The time has come again for Ontario Lottery and gaming companies to share casino revenue with municipalities that serve as hosts for gaming properties across Ontario. The Crown Agency said in a press release that the local host community received more than CA$32 million in non-taxable gaming revenue for the third quarter from October 1 to December 31, 2022.
Municipalities receive their share of gambling proceeds to attract casino properties to their territory through municipal contribution agreements. The deal, signed decades ago, requires OLG to share some of its casino revenue with the host. However, each municipality receives a different allocation based on a predetermined formula.
According to OLG’s quarterly report, a total of 29 communities received allocations in the second quarter of the fiscal year 2022-2023 at a joint total of C$32,385,278. Some of these areas include brantford, the home of element casino brantford. The municipality received quarterly non-tax gambling revenue of C$1,372,633.
Meanwhile, in the third quarter of the fiscal year, Gateway Casino Woodstock secured C$369,638 in gaming funds, which OLG has now delivered to Woodstock. Elora also pocketed C$717,647 to host Element Casino Grand River in Q3. And Camp Belleville took C$1,435,055 to host Element Casino Mohawk.
The City of Peterborough also paid C$707,495 to host the Game Amenity Shorelines Casino Peterborough, which would be a huge sum for the city’s coffers. This payment was slightly lower than the previous second quarter ended September 30, 2022, with a size of C$791,037.
Cavan Monaghan Township also received a quarterly allocation of C$85,880 from OLG. The Township hosts the Shorelines Slots in Kawartha Downs, Fraserville. Payments fell slightly to C$112,579 recorded in Q2 and C$109,068 compared to Q1.
Not long ago, Ontario’s finance minister, Peter Bethlenfaly, commented that payments through municipal donation agreements provide funding for hosting gaming communities for programs and capital projects to improve Ontario people’s lives. He believes that game funding allows communities to create a better environment with more life and work opportunities.
In October 2022, Crown Agency delivered a Q2 gaming revenue-sharing payment to Innispil Village. Applied from July 1, 2022 to September 30, 2022. The community hosted Gateway Casino Innispiel and received a generous allocation of C$2,075,105 for the quarter. Since the casino’s opening in November 2001, the town has received a total of C$97,475,109.
BY: 파워볼사이트 추천