Ontario Lottery and Gaming Corporation has many ways in which it supports casino host communities, improving them consistently. Ottawa expressed its gratitude towards the lottery corporation for the support it has shown to the local Greely West Park with the recent gaming revenue allocation. The recreational area has witnessed ongoing support from the Crown corporation, for its improvement.
Gaming locations have a way of improving the local community with their regular gaming revenue allocations going straight towards the city coffers and various local projects. Ontario Lottery and Gaming Corporation is here to boost the process thanks to the Municipality Contribution Agreement regulating the support. Ottawa is one of the communities being supported by the gambling venues it has up for grabs.
OLG Allocates Gaming Revenue Share
Rideau-Carleton Casino is the gaming venue responsible for the substantial financial support Ontario Lottery and Gaming Corporation allocated at the end of every quarter of the fiscal year. Last week saw yet another gaming revenue allocation that did not go unnoticed by local officials at Stittsville. The suburban community of Ottawa welcomed a share of the overall sum for the Greely West Park development.
Mayor Jim Watson recently expressed his contentment with the way this collaboration has been progressing over the past years. He pointed out that the Crown corporation has worked towards the improvement of city services, as well as the recreation potential in the region. This includes both parks and culture areas, able to attract crowds of individuals down the road and subsequently make the region even more popular.
Ontario Lottery and Gaming Corporation allocates about CA$5 million on an annual basis. In a way, this is a compensation for the gambling operation taking place, as locals are exposed to increased risk of problem gambling. Slots gaming at Rideau-Carleton Casino has been the driving force. Mayor Watson pointed out that the region should remain competitive and meet locals’’ expectations.
Local Projects Funded
Over the past 20 years, the Crown corporation has supported Ottawa and the region, with the entirety of the proceeds going back to the host communities. Projections are that the support is about to grow even further, as the gaming location is on the verge of a major expansion. Back in the spring of 2018, the city council gave its nod to a CA$318 million expansion including a redevelopment of the existing Rideau Carleton Raceway on Albion Road.
As of now, Rideau Carleton Raceway has 35 gaming tables and 1,250 slot machines. Hard Rock plans to introduce another 750 slot machines, pushing the overall number to 2,000 although there are currently no limitations set. In addition to this gaming expansion, the project is about to introduce a family-friendly expansion as well. The project would see a nine-story hotel with 200 rooms, as well as a 2,500-seat concert theatre.
This project is expected to create some 900 new job positions for the locals, improving the employment market in the region. Over the span of the following five years, the expansion is bout to take place. Expectations are that the well-rounded casino would bring in more than CA$70 million a year to Ottawa’s economy, funds that are currently being spent at the Lac Leamy Casino in Gatineau, Quebec.
