According to the stipulations of the Municipality Contribution Agreements, Niagra Falls and Thunder Bay have each been granted a payment from OLG totaling $6.2 million. This amount is derived from a standard calculation based on revenue figures. The funds reflect the earnings recorded during the first quarter of the fiscal year 2022-2023.
Give Back to The Community
Since the Gateway Casino Thunder Bay commenced operations in 2000, Ontario has benefited by receiving approximately $7 million from the Casino Host Community Agreement, which forms part of a total revenue of $704 million accrued from the Gateway Casino.
This situation illustrates the commitment of Ontario casinos to support their local communities. For instance, Gateway Casinos Sudbury contributed $500,000 to local initiatives this quarter, and overall, the city has profited over $46 million from the casino's operations.
What exactly is the Municipality Contribution Agreement?
The term Municipality Contribution Agreement refers to a contractual arrangement between a successful business entity and a specific municipality. This agreement specifies the conditions under which a business's revenue is allocated to the municipality for community-related purposes. Typically, these contributions are directed toward the development or improvement of communal facilities and services.
Established in 1990, the Ontario Lottery and Gaming Corporation (OLG) facilitated the creation of the municipal agreement alongside the city's mayor. Since then, millions of Canadian dollars have been funneled into community support.
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