Casino News

OLG Fuels Sault Ste. Marie City Coffers with Casino Cash

Ontario Lottery and Gaming Corporation continues to boost casino host communities with its various allocations and ongoing support. The City of Sault Ste. Marie recently received its latest gaming revenue allocation amounting to some CA$296,980. The fourth quarter of the fiscal year came to its end on March 31 and ended up amassing this sum sending it straight to the city coffers.

Casino venues and gaming locations across Canada strive to support their host community in various ways, as this strengthens the relationship between the casino operator, the Crown corporation, and the locals themselves. The gaming revenue those gaming hotspots generate is then capable of supporting the host community and its various projects down the road. This is also among the main incentives for casino construction.

Casino Revenue Allocation

The City of Sault Ste. Marie is among the popular gaming destinations, as it brings gaming offerings closer to the people interested in gaming and winning big. Gateway Casinos Sault Ste. Marie is the gaming venue welcoming them on a regular basis and striving to meet their expectations. Ever since mid-March, this venue is closed for business and this has impacted the most recent revenue allocation.

About two weeks of no operation on its premises have impacted the fourth quarter allocation and it is lower than expected. It amounts to some CA$296,980, covering the weeks between January 1, 2020 and March 31, 2020. The fiscal 2019/2020 came to an end on March 31 and called for a celebration and revenue allocations to the host communities across Ontario. The Crown corporation has not issued information about a lockdown lift.

Ross Romano, MPP for Sault Ste. Marie, recently pointed out that the support should be stronger now more than ever, as the trying times call for it. Ontario Lottery and Gaming Corporation continues investing in the local community and it has been doing so over the past couple of decades thanks to the Municipality Contribution Agreement in place.

Jule 2020 Brings Next Allocation

The month of July is expected to bring the gaming revenue allocation of the first quarter of the fiscal 2020/2021. That amount is also expected to be impacted by the current lockdown that has left the casino hotspot empty for weeks on end. The fiscal 2019/2020 managed to amass some CA$1,428,879 making their way to the city coffers of Sault Ste. Marie.

Ever since the casino venue launched operation, financial support has been an ongoing one. Over that period, the city has received upwards of CA$31 million in casino cash. Ontario Lottery and Gaming Corporation and Gateway Casinos & Entertainment were once again the main sponsors of the Outstanding Business Achievement Awards in Sault Ste. Marie. February 29 saw the official ceremony praising local businesses for their accomplishments.

The fall of 2019 saw more development surrounding the casino hotspot. The vacant patch of land next to the casino venue Gateway Casinos & Entertainment manages might soon see major development, the details around which would be revealed in the foreseeable future. A non-tourism development has been proposed for the land in question.