OLG Offers Quarterly Casino Payments To Niagara Falls
Another quarter of the fiscal year has gone by, meaning that the Ontario Lottery and Gaming Corporation is now sharing its casino revenue with host communities. It was reported that for the quarter of January 1, 2023, through March 31, 2023, the City of Niagara Falls has received a total payment of CA$3.93 million for hosting two provincial casinos.
Through the Municipal Contribution Agreement, the Province of Ontario is obligated to distribute a part of its casino earnings to the municipalities that accommodate its physical gaming facilities. The remuneration is calculated using a formula that is uniformly implemented throughout all provincial gaming establishments and incorporates a progressive system of gaming revenue for each venue.
– Niagara Falls Gets Its Share
In its press release, the OLG announced that for the fourth quarter of the 2022-23 fiscal year, it has sent out CA$28,753,394 in gaming payments to 29 communities that host gaming facilities. The City of Niagara Falls pocketed around CA$3.93 million for Q4 for hosting the Crown corporation’s Fallsview Casino Resort and Casino Niagara in the city.
For the fiscal year that ended on March 31, 2023, the Crown agency contributed roughly CA$19.9 million for hosting the two casinos. Since the opening of the first casino in the city, Casino Niagara, back in December 1996, the city has now received a grand total of CA$194.9 million in gambling allocations, which power the local economy and boost local coffers.
A while back, Ontario Finance Minister Peter Bethlenfalvy commented that the OLG’s municipal contribution agreements and allocations were building strong communities where people and families can enjoy a high quality of life. In his words, the proceeds aid local programs and critical infrastructure, while also making a real difference for host municipalities.
Meanwhile, the OLG shared that it was pleased to split the revenue of its casino operations with local communities while contributing to economic recovery, infrastructure development and job creation. It also reminded that 100 percent of its profits are reinvested into the Province of Ontario and that allocations to host communities are part of that commitment.
– Recent OLG Activities
In addition to sharing its gaming proceeds, the OLG is also organizing numerous events to help out Ontarians. It recently announced that it will host Baawaating Career Expo with its community partners on April 26, 2023, at Shingwauk Kinoomaage Gamig. It will take place on Wednesday, April 26, 2023, from 10:00 a.m. to 3 p.m. and open with special drumming and smudging ceremony.
This month, the Crown corporation also reported that along with the Toronto Raptors, it has donated a total of CA$91,132.00 to six basketball organizations in the province. As part of the initiative, the OLG and the team made a donation every time a user played the free Borough Ballers game on the Toronto Raptors app from March 23 to April 6, 2023.
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