OLGC pays $5.3 million to Niagara Falls, Ont.
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- James Fink
- Buffalo Business First Reporter- Buffalo Business First
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The city of Niagara Falls, Ont. has received a $5.3 million non-tax gaming revenue payment from the Ontario Lottery and Gaming Corp.
The quarterly payment, based on a Municipality Contribution Agreement between the OLGC and Niagara Falls, is based on an escalating scale of slot machine revenues generated by Casino Niagara and Fallsview Casino Resort.
Niagara Falls uses the funds to help with various municipal projects including road and sewer repairs.
The OLGC's fiscal year runs begins on April 1 and runs through March 31.
In this fiscal year's first quarter, the OLGC made a $6.7 million payment to Niagara Falls.
Last year's OLGC second quarter payment to Niagara Falls was $5.6 million
Combined Casino Niagara and Fallsview Casino Resort average more than 21,400 daily visitors. It is the largest employer in Niagara Falls.
James Fink covers real estate, commercial development and government
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