Ottawa receives $1.3 million for hosting Rideau Carleton Casino
Ottawa City Hall (CTV News Ottawa)
A cheque worth $1,328,790 has been issued to the city of Ottawa from Ontario Lottery and Gaming Corporation (OLG) for hosting the Rideau Carleton Casino.
The payment is coming from OLG's third-quarter revenue for the period between October 1 and December 31, OLG said in a news release on Friday.
So far, Ottawa has received over $5 million from OLG for its share of revenue from Rideau Carleton Casino during the April 1, 2023 to March 31, 2024 fiscal year. Since the gaming site opened in February 2000, the city has received more than $100 million.
Under the Municipality Contribution Agreement, municipalities receive payments from OLG based on gaming revenue at the host casino to help Ontarians and communities, OLG says.
“OLG continues to provide 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.”
Meanwhile, OLG says these payments not only help Ontarians, but also contribute to the province's economic growth and recovery after the pandemic, noting that 100 per cent of its 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," read the release.
Since 1994, host communities have received more than $2 billion in non-tax gaming revenue.
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