Village of Point Edward will re-evaluate its plans and priorities for this year’s budget after receiving the latest quarterly gaming revenue from Starlight Casino Point Edward. Since March 2020, it has not been operating for a considerable period of time, reducing money flowing into casinos, hurting revenue-sharing agreements due to unprecedented conditions and the closure of casino properties.

Last week, the Ontario Lottery and Game Company began distributing quarterly revenue-sharing payments to municipalities in Ontario. This allocation is provided in connection with Crown Company’s agreement with the municipality to attract casino properties. However, these payments have been severely reduced because casinos have been closed over the past two years.

Point Edward received a quarterly allocation worth C$306,283 for the quarter beginning on October 1, 2021 and ending December 31, 2021. That was roughly the same amount the town received during the previous quarter from July to September 2021, slightly higher than C$316,674. However, both allocations are insignificant compared to unprecedented levels.

Now, due to a decrease in non-tax revenue contributions and a depleted budget, Point Edward will not be able to develop many projects in 2022. For example, upgrading the town’s streets, city facilities and equipment has been discontinued. This is due to a decrease in slot gaming revenue in local gaming hotspots.

Jim Burns, the town’s main manager, said Point Edward received C$620,000 in 2021 slot revenue, which is C$11,000 more than the town had planned, keeping the current situation in mind. Mr Burns also described the amount as still a significant drop from 2019 slot revenue of C$2.4 million.

According to him, one of the projects delayed by a lack of capital is rebuilding a section of St. Clair Street. The town is also considering replacing old fire engines with new ones, as well as doing some work in local sewage treatment plants. According to him, there are smaller pieces of equipment that need to be replaced, but they can wait another year.

OLG’s allocation of non-tax revenue is a big benefit to Ontario’s municipalities. Last week, the Crown agency also transferred a quarterly payment worth C$2,158,545 to the city of Windsor to attract Caesars Windsor Casino. In the period since 1994, it has raised about $72 million in non-tax gaming revenue for the region.

In addition, the Ontario government announced last week that it will ease the recently imposed health and safety measures on January 31, 2022. In light of this news, game operators such as Gateway Casino & Entertainment have announced that they are ready to reopen. Company’s Gateway Casino Salt Ste.

BY: 우리카지노탑

Leave a Reply

Your email address will not be published. Required fields are marked *