OLG makes fourth-quarter payment to hosting city

The Canadian company contributed US$250 million to the province of Ontario for hosting its casinos.

Canada.- Ontario Lottery and Gaming Corporation (OLG) issued this week a fourth-quarter non-tax gaming revenue payment of US$348 million to the City of Sault Ste. Marie for hosting Gateway Casinos – Sault Ste. Marie. The payment corresponds to January to March 2018.

Charles Sousa, Minister of Finance of Ontario, said that OLG provides host municipalities with significant revenues every year, which help communities invest in local priorities and infrastructure projects. “These types of investments also stimulate job growth and promote economic development across the province,” he added.

The payments are made under an equitable formula in the Municipality Contribution Agreement that establishes how much municipalities receive for hosting gaming facilities and are based on a graduated scale of gaming revenue that is consistent city-wide. OLG is Ontario government’s largest source of non-tax revenue with approximately US$2 billion annually.