Another quarter of the fiscal year has passed, meaning the Ontario Lottery and Gaming Company is now sharing casino revenue with the host community. 온라인카지노 For the fourth quarter of 2023 between January 1 and March 31, Niagara Falls reportedly received a total of C$3.93 million for hosting two provincial casinos.
Through a municipal contribution agreement, Ontario is obliged to distribute a portion of its casino revenue to municipalities that house physical gaming facilities. Remuneration is calculated using a formula that is implemented uniformly in all provincial gaming facilities and incorporates a progressive system of gaming revenue for each location.
In a press release, OLG announced that it sent C$28,753,394 in gaming payments to 29 communities hosting gaming facilities during the fourth quarter of the 2022-23 financial year. The city of Niagara Falls pocketed around C$3.93 million in the fourth quarter to host Crown Corporation’s Falls View Casino Resort and Casino Niagara in the city.
In the fiscal year ended March 31, 2023, Crown Agency donated approximately C$19.9 million to attract the two casinos. Since opening the city’s first casino, Casino Niagara, in December 1996, the city has received a total of C$194.9 million in gambling funding that powers the local economy and boosts local finances.
Not long ago, Ontario’s finance minister, Peter Betlenfalvy, said OLG’s city contribution agreement and allocation create a strong community where people and families can enjoy a high quality of life. According to him, the proceeds are making a real difference to host municipalities while supporting local programs and critical infrastructure.
Meanwhile, OLG shared that it was happy to share the revenue from casino operations with the community, contributing to economic recovery, infrastructure development and job creation. It also reminded us that 100% of our revenue is reinvested in Ontario, and allocation to host communities is part of this commitment.
In addition to sharing game proceeds, OLG is organizing many events to help Ontarians. Recently, OLG announced that it will hold the Baawating Career Expo with its community partners at Shinwauk Kinomage Kamig on April 26, 2023. Open on Wednesday, April 26, 2023, from 10:00 a.m. to 3:00 p.m., with special drumming and smudging events.
This month, Crown Corporation announced that it and the Toronto Raptors donated a total of C$91,132.00 to six basketball organizations in the province. As part of the initiative, OLG and the team made donations whenever users played free Borough Bowlers games on the Toronto Raptors app from March 23 to April 6, 2023.