Latest revenue from Cascades Casino brings in $401K
Wednesday 22nd January 2020
The Municipality of Chatham-Kent is trading in its chips with Cascades Casino Chatham for $401,654 in non-tax gaming revenue.
The third-quarter payment to the municipality from the Ontario Lottery and Gaming Corporation (OLG) is for the time span between October 1, 2019, and December 31, 2019.
Chatham's new casino opened its doors in July of 2019. The first earnings from hosting Cascades Casino Chatham was first seen in conjunction with the now-closed Gateway Casinos Dresden in October 2019, where the second quarter payment amounted to $452,642.
For comparison, the last full quarter revenue payment made to the municipality for the casino in Dresden was $237,847.
"OLG's significant annual proceeds are invested in key government priorities across the province to the benefit of all Ontarians," said MPP Rick Nicholls in a statement.
Chatham-Kent has received more than $12 million in non-tax gaming revenue since April 2001, according to a media release from the OLG.
Payments made to host communities are done under an equitable formula and are based on a scale of gaming revenue that is consistent across all provincial sites.