It’s time for Ontario lottery and gaming companies to repay municipalities for hosting casino property. 바카라사이트 This week, Crown Corporation began sending second-quarter payments to host regions, including Niagara Falls. The city hosted Fallsview Casino Resort and Casino Niagara in the second quarter, earning a hefty CA$5.3 million.
Under the municipal contribution agreement, Ontario must share part of its casino revenue with municipalities hosting land-based gaming properties. Payments are consistently applied across all local gaming facilities and are based on a formula that utilizes the graduate size of the game revenue for each location.
This week, OLG reported that it began sending gambling allocation payments to the host community in the second quarter of 2022. This applies from July 1, 2022 to September 30, 2022. And during that time, the city of Niagara Falls received a payment of CA$5,285,233 to host the Fallsview Casino Resort and Casino Niagara.
For OLG’s current financial year from April 1, 2022 to March 31, 2023, the city has already received a total of C$11,542,491. And since the first casino began in the area in 1996, Crown Corporation has delivered C$186,531,021 to the area. This money was used to help local governments as they were reinvested in the local economy.
Ontario’s finance minister, Peter Betlenfalby, said the revenue from OLG’s municipal donation agreement supports communities hosted, and it is used to invest in programs and services that benefit everyone, from neighborhood parks to local festivals. According to him, the payments help improve the quality of life and make the province an interesting place to live, work, and play.
During the first quarter of the 2022-2023 financial year, OLG issued payments of C$6,257,258. Payments are significantly larger in the current fiscal year, as 2021-2022 has been largely affected by unprecedented conditions and the subsequent closure of provincial casinos. But their operations are now back to normal and running at full capacity.
In addition to Niagara Falls, the city of Peterborough also received second-quarter payments from the Crown Agency. In Q2, the city received a payment of C$791,037 for hosting Shorelines Casino Peterborough. This is slightly larger than the first-quarter payout of C$719,930 or higher. Therefore, the total amount for the current fiscal year is over C$1,510,427.
Cavan Monaghan Township also received a second-quarter payment from OLG, amounting to C$112,579 to host the Shorelines Slots at Kawartha Downs in Fraserville. This allocation is a slight increase from the first-quarter payment of C$109,068. Since the game venue opened in November 1999, the town has recorded a non-tax game revenue of C$61,209,510