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OLG makes payment to hosting city

Published

7 years ago

April 25, 2018

Niji Narayan

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The Canadian company Ontario Lottery and Gaming Corporation (OLG) has made 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 the first three months of 2018.

Charles Sousa, minister of finance of Ontario, said that OLG offers host municipalities significant revenues every year, which the municipalities invest in local priorities and infrastructure projects. He added further: “These types of investments also stimulate job growth and promote economic development across the province.”

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.

Source: focusgn.com

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.