The city received a payment of more than CAD 5 million (US$ 3.93 million) made by the Ontario Lottery and Gaming Corporation.
Canada.- Niagara Falls have received more that CAD 5 million (US$ 3.93 million) after The Ontario Lottery and Gaming Corporation (OLG) issued its fourth-quarter (January to March, 2016) non-tax gaming revenue payment.
In total, the City have received CAD5,275,019 (US$4,145,284) for hosting Casino Niagara and Fallsview Casino Resort. Since December 1996, Niagara Falls has received more than CAD66.4 million (US$52 million) in non-tax gaming revenue. This year alone, payments to the city amounted over CAD23 million (US$18 million.)
“OLG gaming site revenue provided to host municipalities helps communities invest in infrastructure projects and important local programs and services which benefit Ontario families,” explained Charles Sousa, Ontario’s Minister of Finance. “Along with supporting local development, these funds directly benefit vital public services such as health care and education in communities across Ontario.”
The casinos had a record breaking year, raking in close to CAD700 million (US$550 million) in gross gaming revenue based on a record number of visitors. At approximately CAD2 billion (US$1.57 billion) annually, OLG provides the Ontario government with its largest source of non-tax revenue.