Throughout the last 7 days, the Ontario Lottery and Gaming Corporation has actually begun to send its quarterly gambling establishment payments to host neighborhoods throughout the province. The City of Niagara Falls has 2 of the most exceptional video gaming residential or commercial properties in the nation, and for the 3rd quarter of 2022-2023, it has actually gotten a significant allotment of more than CA$ 4 million from OLG.
The Crown company is sharing a portion of its gambling establishment profits with neighborhoods that host gambling establishment homes through the Municipality Contribution Agreement. The agreement dates to a number of years ago and awards towns for hosting gambling establishments, however each area is qualified for a various payment which is computed by an established formula.
Niagara Falls Receives Allocation
In a news release from recently, the OLG validated that the City of Niagara Falls has actually now gotten its third-quarter video gaming payment for hosting Fallsview Casino Resort and Casino Niagara. The allowance for Q3 of the FY 2022-2023 total up to CA$ 4,433,189. Far for the present OLG financial year, the city has actually bagged more than CA$ 15 million in payments.
It must be kept in mind that the allowance is for hosting the 2 video gaming hotspots in between October 1, 2022, to December 31, 2022, which is Q3 for the Crown. Considering that the finalizing of the brand-new revenue-sharing arrangement in 2013, the city has actually gained from more than CA$ 20 million a year in non-tax earnings. Prior to that, the area took roughly CA$ 3 million yearly.
In addition to the City of Niagara Falls, other Ontario host neighborhoods have actually likewise bagged their quarterly payments. Point Edward got CA$ 421,424 in Q3 for hosting Starlight Casino Point Edward. This adds to an overall of CA$ 1,304,084 for the FY year, and more than CA$ 50 million given that the town initially released the gambling establishment back in April 2000.
The City of Sault Ste. Marie has actually likewise gotten its quarterly reasonable share from the OLG for hosting Gateway Casinos Sault Ste. Marie. In Q3, the gambling establishment contributed CA$ 333,117 to the regional coffers. It must be pointed out, that the town has actually gotten US$ 1.1 million for the very first 9 months of the OLG’s FY and CA$ 33.5 million considering that May 1999.
Payments Already Sent
In its report, the Crown corporation likewise notified that in overall has actually sent CA$ 32,385,278 for Q3 of its present FY. This amount was shared by 29 neighborhoods. A few of them consist of Brantford, which filched CA$ 1,372,633 for the stated quarter for hosting Elements Casino Brantford. Elora has actually bagged a substantial CA$ 717,647 for hosting Elements Casino Grand River.
Lastly, the City of Peterborough filched an amount of CA$ 707,495 for hosting the video gaming facility, Shorelines Casino Peterborough. The OLG sent out a Q3 payment to the Cavan Monaghan Township has actually likewise gotten a quarterly allotment from the OLG, worth CA$ 85,880 in non-tax video gaming income for hosting Shorelines Slots at Kawartha Downs in Fraserville.
Source: “Niagara Falls gets $4.4 M in most current gambling establishment payment from OLG” Niagara Falls Review, January 18, 2023
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