The Town of Milton has announced that it has just received its quarterly revenue-sharing payment from the Ontario Lottery and Gaming Corporation. The allocation is for the hosting of Elements Casino Mohawk and for the third quarter of 2021 was in the amount of approximately CA$2 million. The money will be now used by the town to support its capital projects.
The OLG is awarding municipalities for the host of gaming properties through the Municipality Contribution Agreement and the Town of Milton is one of those. Since 1999, the town has received a total of CA$126.8 million in proceeding via the agreement. Thus, proving that the casino industry is quite important the regionās budget and revenue.
Funds Start Flowing
Despite casino properties being operational during the whole Q3 which started on October 1, 2021, and ran through December 31, 2021, revenue is still impacted by the restrictions. The payment is in the size of CA$2,000,691, however, the allocation still pales in comparison to what it was before the emergence of the unprecedented situation almost two years ago.
In a media release, Milton MPP Parm Gill said that the town is quite delighted with the allocation for Q3 of last year received via the Municipality Contribution Agreements. In his opinion, once health and safety restrictions are eased by the province, brick-and-mortar properties will continue to have a vital role in the economic recovery of the local communities.
One More Payment Received
Also recently, another Ontario municipality received a hefty payment from the Crown corporation through the Municipality Contribution Agreements. On January 19, 2022, the township of Centre Wellington received an allocation from the OLG in the size of $567,492. The payment was also for the third quarter of last year for the hosting of Elements Casino Grand River in the region.
Since December 2003, Centre Wellington has received more than CA$35.6 million in non-taxing gaming revenue from the OLG in such payments. Minister of Finance Peter Bethlenfalvy commented that the government is pleased to have sent out quarter payments to host gaming municipalities, and he is looking forward to having casinos once again contributing to the provinceās economy.
Niagara Falls Bags Hefty Payment
Last week, the OLG delivered even more quarterly allocation to casino hosts from Ontario. For example, Niagara Falls received a payment worth CA $3.8 million for having Niagara Fallsview Casino Resort and Casino Niagara on its territory. Sault Ste. Marie was also awarded an allocation for the hosting of Gateway Casinos Sault Ste. Marie, which was in the amount of CA$273,611 for Q3 of last year.
Windsor Receives Allocation Too
The City of Windsor was among one of the communities that received a hefty bag for being a casino host municipality. For Q3 of last year, the city received CA$2,158,545 as it operates Caesars Windsor Casino. Since the official opening of the property back in 1994, the municipality has collected a total of CA$72 million in non-tax gaming revenue.
Source: āMilton receives third-quarter payment from OLGā, InsideHalton, January 27, 2022
