Casino News

OLG Sends Gaming Revenue Share to Point Edward, Sarnia

In the middle of a casino closure across Ontario, the Ontario Lottery and Gaming Corporation has issued its quarterly gambling payments to host municipalities. Both Point Edward and Sarnia properties are affected by the closure but still received their payment from the OLG for being one of the many host communities across the province.

The OLG has settled to share a portion of its casino revenue with host communities via the Municipality Contribution Agreement. Each of the payments varies depending on the casino based on a predetermined formula for its operations. Since 1994, communities have now pocketed more than CA$1.9 billion in non-tax gaming revenue from the Crown agency.

Q4 Payments are Now Issued

As payments have now been sent to Ontario host communities, Point Edward has received an allocation of CA$414,744 for Q4 of fiscal 2022-23. The municipality hosts Starlight Casino Point Edward and the community has grabbed a total of CA$1.7 million in net proceeds for the full fiscal year and CA$50.4 million since its official launch in April 2000.

In the meantime, Sarnia recorded a quarterly payment of CA$108,621 for the last quarter of 2022-23. The region is home to Gateway Casinos Sarnia located at the Hiawatha Horse Park, which as brought in a total of CA$431,865 for the whole fiscal year. For the whole of Q4, the OLG sent out a total of CA$142,672,465 to 29 communities for hosting its gaming amenities.

Gateway Casinos Remain Shut Down

In the meantime, Gateway Casinos and Entertainment which operates 14 properties across Ontario issued an update on its casino closure. The company said that its Ontario establishments will remain closed until Friday, April 21, 2023. It also informed that it has not found any evidence that the cyber-attack has leaked any personal information and is working on restarting services.

Casino Rama Resort in Orillia is also among the operatorโ€™s affected properties and will also remain shut down for a little while. Due to technical issues, the venue announced the rescheduling of live shows. The Chris de Burgh concert will now be moved to Thursday, April 27, 2023, while The Warrant, Quiet Riot and Helix concert has also been rescheduled but with no date at the time.

Kenora Location Could Be Ditched

Currently, Gateway Casinos and Entertainment operates a total of 14 gambling properties across Ontario, and there were plans for more. A while back the company reported that it was looking to launch a CA$21 million project for Kenora on Ninth Street. However, the plans for the site hang in the balance as in 2022 the company said it would focus on existing sites.

In March 2022, the Director of Communications and Public Affairs for the gaming leader, Rob Mitchell, specified that the company has no current plans to start the construction of property in Kenora. He revealed that the company is now focused on increasing its revenue and bringing back employees to work, similar to what other businesses are trying to do.

Source: Morden, Paul โ€œSarnia, Point Edward get quarterly gambling revenue amid casino shutdownโ€ Chatham Daily News, April 19, 2023