Payday for Milton as OLG hands over $1.4 million from Elements Casino Mohawk
Published January 19, 2024 at 11:28 am
Milton’s coffers have grown by nearly $1.4M thanks to another payment from the Ontario Lottery and Gaming Corporation.
The third-quarter payment to the town for hosting Elements Casino Mohawk was $1,386,976, bringing the fiscal year total to $5,994,643. Since the gaming site opened in 1999, Milton has received $141,130,613.
“OLG continues to provide Municipality Contribution Agreement payments to gaming host communities for vital programs and services that benefit all Ontarians,” said Peter Bethlenfalvy, Minister of Finance.
“Land-based casinos offer good, local jobs and play an important role in supporting strong, vibrant communities for families to live, work and play.”
These 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 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 as 100 per cent of OLG’s profits are reinvested in the province.
Since 2017, casino service providers have invested more than $2 billion in private sector capital across the province. These investments have led to the development and opening of seven new casinos, one planned development and numerous casino expansions and non-gaming amenities.
Since 1994, host communities have received more than $2 billion in non-tax gaming revenue.inhalton's Editorial Standards and Policies advertising