The Municipality of Chatham-Kent has received a $255,748 payment from the Ontario Lottery and Gaming Corporation for hosting Cascades Casino in Chatham.
The Municipality of Chatham-Kent received a $255,748 payment from the Ontario Lottery and Gaming Corporation for hosting Cascades Casino in Chatham.
This is the municipality’s fourth-quarter payment, bringing the total gaming revenue received for the fiscal 2021-22 year, which ended March 31, to $921,281.
Chatham-Kent has received $14,453,931 in gaming revenue since it first began hosting a gaming site in April 2001.
These payments to host communities are based on a formula consistently applied across all gaming sites in Ontario, using a graduated scale of gaming revenue at the hosted site, stated an OLG media release.
The agency is proud to share proceeds of casino gaming with local communities, contributing to economic development, infrastructure and jobs, the release added. Payments to host communities are part of the OLG’s commitment to Ontario since 100 per cent of OLG’s profits are reinvested in the province.
“Municipality contribution agreements are an important source of funding for municipalities and help deliver critical services that the people of Ontario enjoy,” said Peter Bethlenfalvy, minister of finance, in the release.
“Land-based casinos create good, local jobs and play an important role in supporting in our economy, and the government will always support a strong and vibrant gaming sector in Ontario.”
The health and safety of customers, employees and host gaming communities remains a priority for OLG and its service providers.
Gaming sites in Ontario were subject to public-health restrictions through most of the fourth quarter, including closures for a period of 26 days, which had an impact on gaming revenues and the payments to host municipalities, the OLG said. Casinos were able to open at full capacity as of Feb. 17 while all remaining public-health restrictions were lifted as of March 21.
Service providers have invested an estimated $1.8 billion in private-sector capital development across the province. Since 2017, five new casinos have been built in Ontario, including the Cascades Casino in Chatham, while a number of other casinos have been recently enhanced or expanded, the OLG said.
During the fiscal year 2021-22, host communities have received $82,942,969 in non-tax gaming revenue. In total, host communities have received more than $1.8 trillion in non-tax gaming revenue to date.