Ontario Lottery and Gaming Corporation has now sent its latest set of casino revenue-sharing payments to Ontarian minimalities, which host its casino properties. For the first quarter of the fiscal 2023-2024, the Crown issued an allocation of CA$3.39 million to the City of Windsor. The city is the home of its Caesars Windsor Casino.
Each quarter, the OLG shares a portion of its revenue with host communities via the Municipality Contribution Agreement. Payments to host communities across the province are based on a formula which is consistently applied across all gaming sites by using a graduated scale of gaming revenue at each of the gambling locations.
Sending Out Payments After Q1
In a recent statement, the City of Windsor revealed that for the first quarter of fiscal 2023-2024, the city bagged a total payment of CA$3,397,096 for hosting Caesars Windsor Casino. Since the opening of the gaming amenity in May 1994, the city has received a grand total of CA$85,836,602 from the Crown corporation, which came in handy for its coffers through the years.
On the topic of sharing casino revenue with host communities, Ontarioās Minister of Finance, Peter Bethlenfalvy said these allocations help to support programs, services, and infrastructure in host communities. In his words, these financial boosters enable funding for crucial programs and services which will provide a better future for Ontarians.
OLG reported that for Q1 of 2023-2024, it sent out gambling payments of over CA$43 million to 29 host communities in the province. It said it is proud to share proceeds of casino gaming with local communities, contributing to economic recovery, infrastructure development and job creation. These allocations are part of OLGās commitment to Ontario as 100% of its profits are reinvested in the province.
In the last eight years, providers of casino services in Ontario have invested over CA$2 billion in private sector capital. Since 2017, these financial efforts have led to the creation and launch of seven new casinos, one planned development and additional expansions. Host communities have contributed over CA$2 billion in non-tax gaming revenue since 1994.
Looking for the Casinoās Next Operator
At the start of April 2023, OLG announced that it will be looking to select the next operator of the casino property in Windsor. It started its Request for Pre-Qualification process and to hear proposals from candidates who wish to conduct the day-to-day operations at the casino. Currently, it is operated by Caesars Entertainment, but its contract expires in 2025.
Then nearly two months later, the Crown agency reported that the Request for Pre-Qualification has been concluded. This was the first step in finding a suitable service provider for the Windsor property. OLG is now reviewing applications from the RFPQ process and will select the proponents who will be eligible to advance to the second stage, the Request for Proposal stage.
Source: Chen, Dalson āOLG makes first-quarter payment to Windsor for hosting casinoā Winsor Star, July 20, 2023
