Casino News

Innisfil Welcomes OLG’s Quarterly Casino Contribution

The Ontario Lottery and Gaming Corporation has delivered its latest portion of casino payments to host communities and Innisfil has struck gold again. For the second quarter of the financial 2023-2024 year, the town received a gambling allocation of over CA$2 million for hosting the OLG-owned Gateway Casinos Innisfil on its territory.

OLG shares profits from its casinos with host communities through the Municipality Contribution Agreement. These payments are calculated using a consistent formula applied to all casinos, with revenue distribution based on a graduated scale at each hosting site. Since 1994, host communities like Innisfil have received over CA$2 billion in non-tax gaming revenue.

Another Hefty Gaming Allocation

For the quarter spanning from July 1, 2023, through September 30, 2023, and after calculations based on the performance of Gateway Casinos Innisfil, the town became eligible for a total quarterly payment of CA$2,167,137. For the current fiscal year that started on April 1, 2023, the town has already received CA$4,149,788 in non-tax gambling revenue.

A while back, Minister of Finance for the Province of Ontario Peter Bethlenfalvy remarked that payments via the Municipality Contribution Agreement help host municipalities with funding of projects like community infrastructure, parks and recreation, and local health-care facilities. Hence, benefitting families and provincial residents, said Mr. Bethlenfalvy.

Brantford was also one of the recipients of a sizeable payment for Q2, as the city hosts Elements Casino Brantford. The city bagged a total payment of CA$1.39 million bringing the total amount for the current FY to CA$2.77 million. Since the launch of the premium gambling facility in 1999, the city has pocketed over CA$99 million in non-tax casino revenue.

Furthermore, OLG sent out a second-quarter allocation to the City of Woodstock worth around CA$434,000 for being host to Gateway Casinos Woodstock. Since its opening, it has delivered nearly CA$26 million to the city coffers. Belleville also got a payment in the amount of CA$920,239, bringing the total revenue to the city since launch to CA$17.3 million.

Disclosing 2022-2023 Fiscal Numbers

Last week, OLG also published its annual report for the fiscal 2022-2023. The Crown corporation reported another record-setting FY in which it delivered CA$2.5 billion in net proceeds to the province via its gambling operations. Hence, smashing the previous FY record of CA$2.3 billion, which was recorded back in 2019-2020 just prior to the unprecedented situation.

In its report the Crown highlighted a substantial 31% increase in digital gambling earnings to CA$669 million or CA$561 million in revenue. During the FY, it also launched retail sports betting at 13 land-based casinos in the province. Among other things, it also paid out CA$123 million to Ontario First Nations via the Gaming Revenue Sharing and Financial Agreement.

Source: Glover, Brett “$2 million to Innisfil for hosting Gateway Casino this, October 20, 2023