Over the past seven days, the Ontario Lottery and Gaming Company has begun sending quarterly casino payments to host communities across the state. Niagara Falls has two of the country's most premium gaming properties, and received a huge allocation of more than C$4 million from OLG during the third quarter of 2022-2023.
The Crown organization shares some of its casino revenue with the community hosting casino properties through the municipality contribution agreement, and the contract goes back decades and awards the municipality to the municipality for the casino attraction, but each region can receive a different payment calculated by a predetermined formula.
In a press release last week, OLG confirmed that Niagara Falls City received Q3 gaming payments for hosting Fallsview Casino Resort and Casino Niagara. Q3 FY2022-2023 ALLOCATION IS AT C$4,433,189. To date, the city has paid more than C$15 million for the OLG fiscal year.
It should be noted that this is an allocation to host a two-game hotspot between October 1, 2022 and December 31, 2022. Since the signing of the new revenue sharing agreement in 2013, the city has enjoyed more than C$20 million in annual non-tax revenue benefits, and before that, it had collected approximately C$3 million annually from the region.
In addition to Niagara Falls, other Ontario host communities have also collected quarterly payments. For example, Point Edward received C$421,424 in the third quarter for attracting Starlight Casino Point Edward. This contributes to a total of C$1,304,084 in the fiscal year, accounting for more than C$50 million since the town first started its casinos in April 2000.
Sault Ste. Marie City also received a quarterly fair shareholding from OLG to attract Gateway Casino Sault Ste. Marie. In Q3, the casino donated C$333,117 to a local safe. It should be mentioned that the municipality received C$1.1 million and C$33.5 million in the first nine months of OLG's fiscal year since May 1999.
The Crown Corporation also reported in its report that it spent a total of C$32,385,278 in the third quarter of the current fiscal year. This amount was shared by 29 communities. They include Brantford, which pocketed C$1,372,633 in the quarter to attract Element Casino Brantford. Meanwhile, Elora has spent an enormous amount of C$717,647 to host the Element Casino Grand River.
Finally, the city of Peterborough collected a total of C$707,495 to host its game amenities, Shoreline Casino Peterborough. OLG also sent Q3 payments to Cavan Monaghan Township, and received a quarterly allocation from OLG to attract Shoreline slots in Kawasa Downs, Frazerville, with C$85,880 worth of non-tax gaming revenue.
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