Finance

Millions in Casino Revenue Power Niagara Falls Coffers

Author: Live Casino Direct
 
Millions in Casino Revenue Power Niagara Falls Coffers
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Niagara Falls has received CA$186.5 million from the Ontario Lottery and Gaming Corporation for hosting the Crown corporation's casino properties. The contract requires the OLG to share a percentage of its casino revenue with communities in Ontario.

Niagara Falls hosts OLG's Fallsview Casino Resort and Casino Niagara Resort. The premium amenities have brought CA$ 186.5 million to the city in the last nine years. CA $177.6 million has been used to fund five council-approved areas and CA.83.9 million for debt avoidance or capital investment. As of September 30, 2022, there is an uncommitted balance of CA £8. 9 million, which is available to be used in 2023 capital budget.

Fallsview Casino Resort and Casino Niagara Resort have launched retail sports betting. The first one will be available on November 23, 2022. Mohegan Gaming & Entertainment partnered with Kambi Group to bring sports wagering to the casinos.

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