GANANOQUE AND TLTI EACH RECEIVE $246K IN CASINO REVENUE
The town of Gananoque and the Township of Leeds and the Thousand Islands (TLTI) have recently received a significant boost in their finances, thanks to casino revenue. According to a report released by the Ontario Lottery and Gaming Corporation (OLG), both municipalities have received $246,000 each as their share of the casino revenue.
This amount is part of the $38 million that the OLG has distributed to 25 communities across Ontario. The distribution is based on a formula that takes into account the number of slot machines and table games at each casino, as well as the population of the municipality.
Gananoque Mayor Ted Lojko expressed his gratitude for the additional funds, stating that it will be put towards important community projects. He also acknowledged the hard work of the OLG and the casino staff in generating this revenue.
Similarly, TLTI Mayor Corinna Smith-Gatcke also welcomed the news, stating that the funds will be used to support local initiatives and services. She also highlighted the positive impact of the casino on the local economy, providing jobs and attracting tourists to the area.
The OLG’s revenue sharing program has been in place since 1998 and has provided over $1.5 billion to municipalities across Ontario. This funding has been used for various community projects, such as infrastructure improvements, community events, and social services.
In addition to the revenue sharing program, the OLG also provides host municipalities with a percentage of the slot machine revenue generated at their respective casinos. This has resulted in an additional $7.5 million for Gananoque and $1.5 million for TLTI in the 2019-2020 fiscal year.
The OLG’s commitment to supporting local communities through casino revenue is a testament to their dedication to responsible gambling and community development. As the OLG continues to expand its gaming offerings, it is expected that the revenue sharing program will continue to benefit municipalities across Ontario.
In conclusion, the recent distribution of $246,000 to Gananoque and TLTI is a welcome boost to their finances and a testament to the success of the OLG’s revenue sharing program. These funds will undoubtedly have a positive impact on the communities and their residents, further highlighting the benefits of responsible gambling.
