Casino closure due to COVID-19 cuts Ottawa's revenue from Rideau Carleton Raceway Casino

Tuesday 21st April 2020

OTTAWA -- The City of Ottawa's quarterly cash payout from the Rideau Carleton Raceway Casino is a little smaller due to the COVID-19 pandemic.

Ontario Lottery and Gaming Corporation says due to the temporary closure of all gaming sites, the revenue payments to municipalities was impacted by a loss of revenue for 15 days.

The City will receive $906,338 from OLG for its non-tax gaming revenue payment for hosting the casino in the fourth quarter. For the 2019-2020 fiscal year, the city received $6.3 million from OLG for hosting the casino.

Acting on the advice of public health authorities, OLG closed Rideau Carleton Raceway Casino and all casinos across Ontario on March 16 to help limit the spread of COVID-19.

In a statement, OLG says "due to the temporary closure of all gaming tables, this quarter's payment was impacted by approximately 15 days worth of revenues."

"OLG expects the July 2020 payment will also be impacted."

Municipalities receive payments from OLG under the Municipal Contribution Agreements, using a prescribed formula consistently applied across all sites in Ontario that is based on a graduated scale of gaming revenue at the hosted site or sites.

In the fourth-quarter of 2019, the City of Ottawa received $1.1 million from OLG for hosting the casino in Ottawa.

Source

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