Brantford and Woodstock have received their first quarter payments from the Ontario Lottery and Gaming Corporation (OLG) for hosting casinos in their respective cities.
According to the OLG, Brantford received a total of $4.2 million for the first quarter of 2021, while Woodstock received $1.2 million. These payments are part of the revenue sharing agreement between the OLG and the host municipalities.
Brantford Mayor Kevin Davis expressed his gratitude for the payment, stating that it will help the city in its economic recovery from the COVID-19 pandemic. He also highlighted the importance of the casino in providing jobs and supporting local businesses.
Similarly, Woodstock Mayor Trevor Birtch emphasized the positive impact of the casino on the city’s economy, stating that the payment will help fund important projects and services for the community.
The OLG also announced that a total of $38.4 million was distributed to 25 host municipalities across Ontario for the first quarter of 2021. This revenue sharing agreement has been in place since 1998 and has provided over $1.4 billion to host municipalities to date.
In addition to the quarterly payments, the OLG also provides host municipalities with a one-time payment of $500,000 for hosting a new gaming facility and an annual payment of $100,000 for each gaming site.
The OLG’s revenue sharing agreement with host municipalities is just one of the ways in which the corporation supports communities across Ontario. It also contributes to local charities and organizations, as well as the provincial government’s general revenues.
As the OLG continues to navigate the challenges brought on by the pandemic, these payments to host municipalities serve as a reminder of the important role that casinos play in supporting local economies and communities.
