Casino News

Niagara Falls Bags Casino Payment for Q3

Over the course of the last seven days, the Ontario Lottery and Gaming Corporation has started to send out its quarterly casino payments to host communities across the province. The City of Niagara Falls has two of the most premium gaming properties in the country, and for the third quarter of 2022-2023, it has received a hefty allocation of more than CA$4 million from OLG.

The Crown organization is sharing a percentage of its casino revenue with communities that host casino properties via the Municipality Contribution Agreement. The contract dates to several decades ago and awards municipalities for hosting casinos, but each region is eligible for a different payment which is calculated by a predetermined formula.

Niagara Falls Receives Allocation

In a press release from last week, the OLG confirmed that the City of Niagara Falls has now received its third-quarter gaming payment for hosting Fallsview Casino Resort and Casino Niagara. The allocation for Q3 of the FY 2022-2023 amount to CA$4,433,189. So far for the current OLG fiscal year, the city has bagged more than CA$15 million in payments.

It should be noted that the allocation is for hosting the two gaming hotspots between October 1, 2022, to December 31, 2022, which is Q3 for the Crown. Since the signing of the new revenue-sharing agreement in 2013, the city has benefited from more than CA$20 million a year in non-tax revenue. Before that, the region pocketed approximately CA$3 million annually.

In addition to the City of Niagara Falls, other Ontario host communities have also bagged their quarterly payments. For example, Point Edward received CA$421,424 in Q3 for hosting Starlight Casino Point Edward. This contributes to a total of CA$1,304,084 for the FY year, and more than CA$50 million since the village first launched the casino back in April 2000.

The City of Sault Ste. Marie has also received its quarterly fair share from the OLG for hosting Gateway Casinos Sault Ste. Marie. In Q3, the casino contributed CA$333,117 to the local coffers. It should be mentioned, that the municipality has received US$1.1 million for the first nine months of the OLG’s FY and CA$33.5 million since May 1999.

Payments Already Sent

In its report, the Crown corporation also informed that in total has sent out CA$32,385,278 for Q3 of its current FY. This sum was shared by 29 communities. Some of them include Brantford, which pocketed CA$1,372,633 for the said quarter for hosting Elements Casino Brantford. Meanwhile, Elora has bagged a hefty CA$717,647 for hosting Elements Casino Grand River.

Last but not least, the City of Peterborough pocketed a sum of CA$707,495 for hosting the gaming amenity, Shorelines Casino Peterborough. Also, the OLG sent a Q3 payment to the Cavan Monaghan Township has also received a quarterly allocation from the OLG, worth CA$85,880 in non-tax gaming revenue for hosting Shorelines Slots at Kawartha Downs in Fraserville.

Source: “Niagara Falls receives $4.4M in latest casino payout from OLGNiagara Falls Review, January 18, 2023