The Village of Innisphill is the latest Ontario community to receive the latest quarterly payments from the Ontario Lottery and gaming company to attract casinos. This week, Crown Agency sends more than CA$2 million in allocations to municipalities to attract Gateway Casino Innispil. 카지노사이트 This amount applies to the second quarter of the 2022-2023 fiscal year for OLG.
Under the Local Government Contribution Agreement, Ontario must share some of its casino revenue with municipalities hosting land-based gaming properties. Quarterly payments vary by community, and through agreements since 1994, the community has received nearly C$1.9 billion in non-tax games from the crown.
Recently, OLG informed the public that it has begun sending Q2 gaming revenue-sharing payments to the Ontario host community. During the current quarter of the 2022-23 financial year, Innispiel Town received a generous allocation of C$2,075,105 to host Gateway Casino Innispiel. This money is from July 1, 2022 to September 30, 2022.
For the fiscal year 2022, from April 1, 2022 to March 31, 2022, Innisphill collected an impressive CA$4,274,646. Since the casino property opened in November 2001, the town has received C$97,475,109 for hosting. Payments are determined by a formula consistently applied to all game venues in the province using the game revenue rating of each property.
Ontario’s finance minister, Peter Bethlenfaly, said income from Crown Company’s OLG’s Local Government Donation Agreement comes as support to the host community and is reinvested in programs and plans that benefit everyone. According to his opinion, the payments help improve the quality of life and make the province a lively and exciting place to live, work, and play.
In addition to Innispil, OLG paid Sault St. Marie quarterly for hosting the gateway casino Sault St. Marie. In the second quarter, the city paid C$396,474 from OLG, making a total of C$771,779 this fiscal year. Since the casino opened in 1999, the area has received more than CA$33 million.
Niagara Falls also received stakes from Q2 FY22-2023. The city hosted the gaming hotspots Fallsview Casino Resort and Casino Niagara and received a hefty CA$5,285,233. For this fiscal year, shared revenue with the city totaled C$11,542,491. And since the opening of the first casino in 1996, the community has received C$186,531,021.
Point Edward is also one of the people on the receiving end. The Village was paid C$455,587 to Starlight Casino Point Edward’s home in the second quarter of the fiscal year. Since the launch of the waterfront casino in 2000, the community has exceeded CA$49.5 million in gaming revenue. The revenue increase will be used by the village to fund important capital projects.