The Casino Host of the Falls is CA$6.2 million

The Casino Host of the Falls is CA$6.2 million

The Ontario Lottery and Gaming Corporation has finished the first quarter of its fiscal year and begun to make payments to casino host communities across the province. For the period of April 1 through June 30, 2022, the City of Niagara Falls received its fair share for hosting both Fallsview Casino Resort and Casino Niagara.

Every quarter of the fiscal year, the Crown corporation awards local communities for their agreement to host gaming amenities. The payments to the hosts are calculated based on a formula which is applied across all provincial gaming amenities and utilizes a graduate scale of gaming revenue for each location.

There are installments that are on the way

For the period of April 1, 2022, through June 30, 2022, the City of Niagara Falls has earned a hefty payment for hosting Fallsview Casino Resort and Casino Niagara. Over CA$181 in non-tax revenue payments has been delivered by the Crown agency since the official opening of Casino Niagara in 1996.

In comparison to the previous quarter or the last quarter of the fiscal year, the city received only a small amount of money through the Municipality Contribution Agreements. This is a positive sign that the casinos are doing well. Over the course of the next two years, the municipality has made more than 12 million dollars from the hosting of the two premium gaming sites.

The Minister of Finance stated that the land-based gaming properties of the Crown agency are once again providing an important stream of revenue to the host communities. Many of those communities are heavily reliant on the funds to support essential programs and services for local residents.

Gateway Casino, which is located in Thunder Bay, has just received its cheque from the OLG. In the first quarter of the current fiscal year, the municipality received an amount of CA$702,604. The community has earned over 50 million dollars in gaming revenue since the opening of the premium casino property in 2000.

The Greater Sudbury has reported that it has received a quarterly payment from the OLG for hosting Gateway Casinos in the area. The community received a cheque from the Crown agency for CA$516,541. Since the launch of the gaming amenity in the region in 1999, the city has received a total of CA$46.4 million.

Proline continues to keep up with the market

Despite the opening of Ontario’s mobile sports betting market, the OLG reported that its sports betting brand PROLINE has been performing well. In order to stay ahead of the curve, the Crown agency added some new offerings, such as “Who will be the first Canadian to be drafted by the Buffalo Bills?” and “Who will be the first to be drafted by the Philadelphia Eagles?”

Insauga, July 21, 2017: “Niagara Falls handed $6.2 million cheque for hosting two casinos”.

Summary:

The Ontario Lottery and Gaming Corporation (OLGC) has started to roll out its payments to casino host communities across the province. Most recently, the City of Niagara Falls received its fair share for hosting both Fallsview Casino Resort and Casino Niagara on its terrain for the period of April 1 through June 30, 2022.