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Milton Receives Quarterly Payment from Ontario Lottery and Gaming Corporation (OLG)

The Town of Milton has recently received its quarterly payment from the Ontario Lottery and Gaming Corporation (OLG), as part of its hosting agreement with Elements Casino Mohawk.

This payment, totaling $1,338,076, marks the final installment of the fiscal year's four payments, bringing the total received for the year to $7,332,719. Since the establishment of the gaming site in August 1999, Milton has benefited from a cumulative total of $142,468,690.

These payments are determined based on a formula applied consistently across all gaming sites in Ontario, taking into account the gaming revenue generated at the hosted site.

Peter Bethlenfalvy, Minister of Finance, highlighted the significance of gaming profits in supporting Ontario communities, providing essential funding for local services. He emphasized the role of such revenues in creating employment opportunities and maintaining a socially responsible gaming environment.

Part of the funding received by the Town of Milton from OLG is allocated to the Milton Community Fund Program, which supports various community initiatives.

Since 1994, host communities across Ontario have received over $2.1 billion in non-tax gaming revenue, contributing significantly to local development and welfare.

Disclaimer: The information presented in this news article has been gathered from local news sources. Please refer to the provided references for verification. Click Here

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