The time has come for the Ontario Lottery and Gaming Corporation to once again share profits from its gambling operations with communities which host its casinos in the province. Recently, the Town of Milton revealed that it has been handed a payment worth CA$2.5 million for hosting Elements Casino Mohawk during Q1 of fiscal 2023-2024.
Every quarter, the Crown agency shares a portion of its revenue with host communities via the Municipality Contribution Agreement. It should be explained that these payments to host communities are based on a formula consistently applied across all gaming sites in Ontario using a graduated scale of gaming revenue at each hosted site.
More Municipalities Gets their Quarterly Payments
For the window between April 1, 2023, and June 30, 2023, or Q1 for the 2023-2024 FY, the Town of Milton received CA$2,536,285 for hosting Elements Casino Mohawk. Since the launch of the gaming amenity in August 1999, the town bagged more than CA$137.6 million. This money has come in handy in funding capital projects and initiatives in the region.
Peter Bethlenfalvy, Minister of Finance commented that by being host communities, municipalities are able to support important community programs and services and bolster their local infrastructure by utilizing the casino proceeds. In his words, these financial injections enable funding for crucial programs and services which will provide a better future for Ontarians.
OLG has also issued its quarterly payment to Point Edward for hosting Starlight Casino Point Edward from April 1, 2023, through June 30, 2023. Its payment from the waterfront casino was in the size of CA$375,814. The gaming property opened back in April 2000, and since then it has contributed over CA$50.8 million in tax revenue.
Sarnia has also taken its fair share from the Crown corporation for hosting Gateway Casinos Sarnia’s location at Hiawatha Horse Park. Its allocation was slightly lower than other municipalities as the city clocked CA$ 90,351 in Q1 money. The city has pocketed a grand total of CA$27.3 million since the gaming site at Hiawatha open its doors for patrons in May 1999.
Not long ago, Wasaga Beach, which hosts OLGās Playtime Casino Wasaga Beach, shared plans for how it intends to spend its gaming revenue. town officials shared they considered using the funds on creating a new community health centre and after-hours clinic. The new facility should be up and running as early as September 1, 2023.
Latest from the Local Casino Industry
This July, the OLG inked a new affiliate marketing partnership with Gateway Casinos & Entertainment, which is one of the largest brick-and-mortar gaming operators in the province. Via the new deal, the company the operator will promote OLGās online slots, table games, live casinos, and digital sportsbook, PROLINE+ on OLG.ca to its many customers.
Source: āMilton nets $2.5 million for hosting Elements Casino Mohawkā Burlington Today, July 19, 2023
