Over the past seven days, the Ontario Lottery and Game Company has begun sending quarterly casino payments to host communities across the state. Niagara Falls has two of the nation's most premium gaming properties, and received huge allocations of more than CA$4 million from OLG during the third quarter of 2022-2023.
The Crown organization shares a certain percentage of casino revenue with communities that attract casino property through municipal contribution agreements. Contracts date back decades and are awarded to municipalities hosting casinos, but each region may receive different payments calculated by a predetermined formula.
In a press release last week, OLG confirmed that the city of Niagara Falls received payment for its third-quarter games to host the Fallsview Casino Resort and Casino Niagara. Q3 ALLOCATIONS FOR FY22-2023 AMOUNT TO CA$4,433,189. To date, the city has collected more than CA$15 million in payments for the OLG fiscal year.
The allocation is intended to host a two-game hotspot between October 1, 2022 and December 31, 2022, which is Crown's third quarter. Since the signing of a new revenue-sharing agreement in 2013, the city has benefited from non-tax revenues of more than C$20 million per year. Prior to that, the region collected about three million Canadian dollars a year.
Niagara Falls, as well as other Ontario host communities, collected quarterly payments. Point Edwards, for example, received C$421,424 in the third quarter for hosting Starlight Casino Point Edwards. This contributes to a total of C$1,304,084 for the fiscal year, and has accounted for more than C$50 million since the town first opened the casino in April 2000.
The City of Sault St. Marie also received a quarterly fair share from OLG for hosting the Gateway Casino Sault St. Marie. In Q3, Casino donated C$333,117 to local vaults. It should be mentioned that OLG received $1.1 million, CA$33.5 million in the first nine months of its fiscal year since May 1999.
In the report, Crown Corporation also said it had sent a total of C$32,385,278 in the third quarter of the current fiscal year. This amount was shared by 29 communities. Some of them include Brantford, which pocketed C$1,372,633 in the same quarter to host Element Casino Brantford. Meanwhile, Elora has pocketed C$717,647 to host the Element Casino Grand River.
Finally, the city of Peterborough collected a total of C$707,495 to host the Shorelines Casino Peterborough, a game amenity. OLG also received a quarterly allocation of C$85,880 to Cavan Monaghan Township for non-tax gaming revenue to host the Shorelines slot in Praserville's Kawarta Downs.
BY: 동행복권파워볼