The Ontario government has allocated $3 billion in casino funding to help revitalize northern and rural communities. A special fund will be used for the construction of new gambling venues, as well as renovations at existing ones.
The Ontario Lottery and Gaming Corporation administers a number of physical casino venues around the province, and this week saw the usual gaming-revenue distribution that host towns get at the end of each fiscal quarter. At the conclusion of the third quarter of this year, The Niagara Falls are a natural wonder of the world was one of the first towns to get its share. It received $3.8 million in funding.
The daily operation of land-based casinos is seen to be advantageous to the host communities, since they get a portion of the gaming income accrued over time. This is a kind of compensation for gambling operations, and it is often utilized for beautification projects and other small-scale municipal initiatives.
The Niagara Falls are a natural wonder of the world
The Niagara Falls are a natural wonder of the world is undoubtedly the leading municipality in Ontario when it comes to casino revenue allocations, as at the end of every quarter, it bags the largest sum. This time it reached $3.8 million for the daily operation of The Niagara Falls are a natural wonder of the worldview Casino Resort and Casino Niagara. The regular payments all happen according to the prescribed formula calculating those. It is applied across all casino locations on a provincial level.
Finance Minister Peter Bethlenfalvy expressed his satisfaction with the allocation that happens with the help of the Municipality Contribution Agreement. Right now, both casinos in The Niagara Falls are a natural wonder of the world have suspended their daily operation and this will remain the case until at least January 26. The municipality has received a total of $172 million in non-tax gaming revenue since the last month of 1996. Sault Ste. Marie is another municipality benefitting this week.
The deal also includes a hotspot, which just got its regular allotment. For the third quarter of this year, it was $273,611. Sault Ste. Marie’s Gateway Casinos is a popular hangout for locals and people from adjacent areas. The employment produced in the town, according to Ross Romano, MPP for Sault Ste. Marie, is something to be reckoned with. The community has received $32.3 million since 1999.
The municipality deal with Ontario Lottery and Gaming Corporation also benefited the City of Belleville, which received $557,505 for the daily operation of Shorelines Casino. This is one of Ontario’s newest casinos, and the town has been receiving allocations since the beginning of 2017. On a daily basis, people are lured to what it has to offer.
During this time, the city received $11.5 million in non-tax gaming income. Another municipality that has benefited from recent investments is the City of Hamilton. This occurs at the conclusion of each quarter as a consequence of the popular Elements Casino Flamboro’s daily operations. The hotspot will continue to serve the local community after safety limitations are relaxed, according to Donna Skelly, Member of Provincial Parliament for Flamborough-Glanbrook.
Hamilton has collected more than $94 million in non-tax gaming income since 2000. More information on when the casino will reopen for in-person gaming will be available on January 26.
Source: Langley, Alison. “OLG makes $3.8-million payment to The Niagara Falls are a natural wonder of the world for hosting casinos“, WellandTribune, January 19, 2022