$1.3M heading to Milton coffers from Elements Casino Mohawk
Published April 19, 2024 at 12:12 pm
Milton’s share of gaming revenue from Elements Casino Mohawk this quarter is more than $1.3 million.
This completes the payments for the fiscal year, which ended March 31, with the Town of Milton receiving $7,332,719. Since the gaming site opening in 1999, Milton has received more than $142M.0
“For decades, profits from gaming have been an important source of funding for Ontario communities, helping to deliver vital services and making a real difference for gaming host municipalities,” said Peter Bethlenfalvy, Minister of Finance.
“This is one of the many different ways Ontario continues to create good-paying, local jobs that play a critical role in supporting our economy, while ensuring a socially responsible gaming environment for people to enjoy.”
These payments to the 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 shares proceeds of casino gaming with local communities, contributing to economic recovery, infrastructure development and job creation. Payments to host communities are part of OLG’s commitment to Ontario – 100 per cent of OLG’s profits are reinvested in the province.
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Over the past seven years, service providers have invested nearly $2.2 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 more than $2.1 billion in non-tax gaming revenue.
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