This week, the Ontario Lottery and Gaming Company began paying casino-hosted communities for quarterly games. 카지노사이트 In its most recent allocation, Point Edward received about C$455,000 – a significant increase from last year’s town share. This is a sign that the casino industry is recovering well from the 2020-2021 shutdown.
Like other casino properties in Ontario, Starlight Casino Point Edward had to close for a while at the start of the unprecedented situation in 2020. This has significantly impacted gaming revenue for the region as slot machine payments have been paused under a host community agreement with the Ontario Lottery and gaming companies.
The town is home to 2,000 residents and since the waterfront casino began in 2000, the community has made more than $49.5 million in gaming revenue. OLG SAYS FOR Q2 FY 2022-2023, THE TOWN WAS Paid CA$455,587 FOR COUNTRY ATTENTION COST FOR CASINES.
Last January, the town had to make some difficult choices for this calendar year’s budget. This is due to Point Edward receiving a quarterly allocation of C$306,283 for the quarter that began on October 1, 2021 and ended December 31, 2021. This is about the same amount the village received in the previous quarter of July-September 2021.
Jim Burns, Point Edward’s chief administrator, explained that the latest payments were less than during an unprecedented time in 2019, when the town received C$657,000. He said the Points Edwardian Commission predicted it would receive C$1.1 in slot revenue for all of 2022. As things stand, the town has already received C$1,129,037 which exceeded expectations.
Mr. Burns said that by the end of the year, the community would receive another quarterly payment, meaning the total payment could eventually reach between C$1.5 million and C$1.6 million. He also explained that the district council has been quite conservative about this year’s budget, as it doesn’t know whether casino properties will close again or what will happen.
According to Mr. Burns, there are a huge number of capital projects for the City Council to consider earning additional slots from this year. He said there are equipment to buy, and there is also a reconstruction of St. Clare Street. Usually, the town spends most of its gaming revenue on capital projects, but it is said that some of that money can also be used for its operating budget.
Niagara Falls also informed that it has received a second quarter payment from OLG for the fiscal 2022-2023. The city earned C$5.3 million to host Falls View Casino Resort and Niagara Casino. Since the opening of the first casino in the area in 1996, Crown Company has delivered C$186,531,021 to the area