The Ontario Lottery and Gaming Corporation is once again sending out its quarterly casino payments to provincial host communities. Greater Sudbury is once again on the receiving end, as the municipality is the home to Gateway Casinos Sudbury. For the quarter ending on March 31, 2023, the city got a payment of almost CA$445,000.
By means of the Municipal Contribution Agreement, the government of Ontario is required to allocate a portion of its casino profits to the localities that host its land-based gambling sites. The payment is determined using a standardized formula that is uniformly applied across all provincial gaming facilities and features a gradual scheme of gaming income for each location.
* Cashing in on Casino Revenue
Just last week, the Crown agency provided its latest quarterly payment to Sudbury which applies to the period of January 1, 2023, through March 31, 2023, for hosting Gateway Casino Sudbury. For Q4, the allocation was Ca$444,925, thus putting the total sum for the whole of OLG’s 2022-23 fiscal year to CA$1,929,529. Since the launch of the venue, the amount nears CA$48 million.
Ontario Finance Minister Peter Bethlenfalvy expressed that the payments made through the Municipal Contribution Agreement of OLG are contributing towards the development of robust communities that offer a superior standard of living for individuals and families. The generated revenues aid in backing regional initiatives and vital public facilities, thus playing a significant role in enhancing the living conditions of the host communities.
In addition to Sudbury and other Ontario municipalities, Wasaga Beach has also been accredited a Q4 payment for hosting the recently launched Playtime Casino Wasaga Beach. For the last quarter of FY, the property brought CA$$286,000 in tax-gaming revenue to the town. Its first payment for hosting the casino was around CA$152,000 and was awarded in January 2023.
Under the current agreement, the town is set to receive 5.25% of the first CA$65 million of slot revenue and 3% of the next CA$135 million from slot operations. Now, the town’s council is tasked with finding where to invest it. A draft was submitted of how to spend the casino revenue to the previous council. Meanwhile, revenue is added to the casino’s reserve account
Sandra Watts, the town’s director of communications and intergovernmental relations shared that a second draft of the policy should be shown to the council at a meeting on May 25, 2023. She further mentioned that the draft will review feedback from councillors, as well as the survey from last fall, which questioned locals on how the money should be spent.
* Niagara Falls Collects a Cheque
In the meantime, OLG’s round of payments does not end here, as Niagara Falls has also received its fair share for hosting two of the country’s most premium casinos. The city bagged a Q4 payment of CA$3.93 million for being host to the Crown corporation’s Fallsview Casino Resort and Casino Niagara.
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