The Municipality of Chatham-Kent was recently apportioned its quarterly casino revenue-share by the Ontario Lottery and Gaming Corporation (OLG).
This regular allocation is due to the fact that the municipality hosts Cascades Casino Chatham, and this most recent transaction was for the fourth quarter of the fiscal 2021-2022 year.
The Crown corporation, as per the Municipality Contribution Agreements, shares percentages of its proceeds with communities where land-based casino properties are situated. The payments are calculated based on a graduated scale of gaming revenue at individual sites.
Money Out
Chatham-Kent’s payment for the stated period comes to $255,748 and it brings the casino’s total allocation across all four quarters to $921,281. From Cascades Casino Chatham’s first opening in 2001, the municipality has received $14,453,931 in gaming revenue.
Peter Bethlenfalvy, the province’s Minister of Finance, explained that municipality contribution agreements channel vital funding into communities, and that land-based casinos are job creators that boost local economies.
The municipality has seen a decline in its average revenue share, largely due to the sweeping economic turmoil created in the wake of the global pandemic. The 2021-2022 fiscal year was particularly affected as many of Ontario’s gaming amenities were shut down for 26 days.
Shares All Around
Another Ontario municipality, Greater Sudbury, has also been handed its quarterly revenue portion, taking in $285,000 for the quarter and over $1.1 million for the whole fiscal year. Niagara Falls received $2.9 million for the quarter and Windsor was given $1,010,143 for hosting Windsor Casino & Resort.
The revenue-sharing agreement is only part of the OLG’s re-investment into the province as the Crown corporation also regularly supports deserving causes. Its recent donation of over $120 000 to United Way Halton & Hamilton exemplifies its dedication to the larger community.
