Province sends $1.4 million to Milton as share of Mohawk casino revenues
Nearly $1.4 million has been added to the Town of Milton coffers, their share of money from the Elements Casino Mohawk.
The total of $1,382,515 is for the period of Jan. 1 to March 31 from the Ontario Lottery and Gaming Corporation (OLG).
During OLG’s fiscal year (which ended March 31), Milton has received $7,405,061. Since the gaming site opened in August 1999, Milton has received $135,135,970.
“OLG’s Municipal Contribution Agreement payments are building strong communities where people and families can enjoy a high quality of life,” said Peter Bethlenfalvy, Minister of Finance.
“These revenues help support local program and critical infrastructure, making a real difference for gaming host municipalities.”
The payments to host communities are based on a formula consistently applied across all gaming sites in Ontario using a graduated scale of gaming revenue at the hosted site.
“OLG is proud to share proceeds of casino gaming with local communities, contributing to economic recovery, infrastructure development and job creation,” said an OLG spokesperson.
“Payments to host communities are part of OLG’s commitment to Ontario – 100 per cent of OLG’s profits are reinvested in the province.”
Over the past seven years, service providers have invested approximately $2 billion in private sector capital investment across the province. Since 2017, these investments have led to the development and opening of seven new casinos, one planned development and additional gaming expansions and non-gaming amenities.
Since 1994, host communities have received nearly $2 billion in non-tax gaming revenue.insauga's Editorial Standards and Policies advertising