Chatham-Kent has received $435,454 from the Ontario Lottery Gaming Corp.
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The money is the payment for hosting the Cascades Casino in Chatham in the third quarter, from Oct. 1 to Dec. 31, 2023.
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So far, during the OLG’s fiscal year that ends March 31, the municipality has received $1.19 million, the Crown corporation said in a release. Chatham-Kent has received $17.3 million in host revenues since its first gaming site opened in Dresden in April 2001.
Payments to host communities are based on a formula, applied consistently across the province, using a graduated scale of gaming revenue at the hosted site, the OLG said.
“OLG continues to provide Municipality Contribution Agreement payments to gaming host communities for vital programs and services that benefit all Ontarians,” Ontario Finance Minister Peter Bethlenfalvy said in the release. “Land-based casinos offer good, local jobs and play an important role in supporting strong, vibrant communities for families to live, work and play.”
All of OLG’s profits are reinvested in the province, the release said.
Since 2017, casino service providers have invested more than $2 billion in private sector capital across Ontario, OLG said, leading to development and opening of seven new casinos, one planned development and numerous casino expansions and non-gaming amenities.
Since 1994, host communities have received more than $2 billion in non-tax gaming revenue, OLG said.
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