As Ontario entered a new calendar year, last week, the Ontario Lottery and Gaming Corporation issued its quarterly gaming payments to local host communities. The Crown agency’s payments were for Q3 of its 2022-2023 fiscal year and were sent to 29 municipalities. The City of Toronto was also one of them for hosting Casino Woodbine.
OLG shares revenue from provincial casinos with local communities via the Municipality Contribution Agreement. Each casino revenue-sharing payment is based on a predetermined formula applied across all properties. The gaming funds are then used by municipalities to boost economic recovery, infrastructure development and job creation for a better Ontario.
Q3 Payments Sent Out
In its press release from last week, the Crown corporation reported that for the third quarter of its financial 2022-2023, the City of Toronto bagged a payment worth more than CA$6.3 million. This puts the total tally for the whole financial year to more than CA$21.1 million in non-tax gaming revenue for the city. The funds will be now reinvested into the local economy.
Casino Woodbine first opened its doors for guests in March 2000, and since then the region has received a grand total of CA$357.6 million for being its host community. The gaming amenity is located at 555 Rexdale Blvd. in Etobicoke, and it is considered the home of gaming entertainment, with its live table games, slot machines, sports betting, and electronic tables.
In addition to Toronto, other municipalities that have also acquired their Q3 payments include Greater Sudbury. For the period of October 1, 2022, through December 31, 2022, the city received a payment of CA$463,325 for hosting Gateway Casinos Sudbury. For the FY, the region has already pocketed CA$1.48 million and over CA$47.387 million since the launch of the casino.
Over the course of the last seven years, casino operators have put over CA$1.8 billion in private-sector capital investment across the province. Since 2017, these investments have allowed for the debut of seven new casinos, one planned development and additional gaming expansions and non-gaming amenities. And since 1994, casinos have brought in more than CA$1.93 billion in non-tax gaming proceeds.
Other Recipients
The City of Niagara Falls is the largest benefiter of the Municipality Contribution Agreement, as it hosts Fallsview Casino Resort and Casino Niagara. These two are among the top casino venues in the province. For Q3, the city bagged a hefty payment of CA$4,433,189. So far for the current OLG fiscal year, the city has obtained more than CA$15 million in payments.
Other municipalities which have also received a gaming revenue boost for Q3 include Brantford, Elora, and Woodstock. Hosting Elements Casino Brantford, the city of Brantford received CA$1,372,633 in non-tax gambling earnings. Meanwhile, Elora got CA$717,647 for hosting Elements Casino Grand River, and Woodstock pocketed an allocation of CA$369,638 for being the host of Gateway Casinos Woodstock.
Source: “Here’s how much Toronto gets for hosting Casino Woodbine” Toronto.com, January 24, 2023
