CHARITY CASINO SHARES ARE $342,243
GANANOQUE _ Leeds and Thousand Islands and
Gananoque each received $342,243 today for hosting
the Thousand Islands Charity Casino. The payment
was for the host municipalities’ third-quarter
share of the slots revenue (January to March
2003).
To date, Leeds and Thousand Islands and Gananoque
have each received more than $1.1 million in
non-tax gaming revenue. Payments are made on
a quarterly basis according to the government
fiscal year (April – March).
Robert Runciman, MPP, Leeds-Grenville says:
“I believe the success of the casino has
been beyond everyone’s expectations. It’s
proven to be an enormous attraction for the
entire region.”
In total, more than $16.3 million in fourth-quarter
non-tax gaming revenue payments were issued
today by OLGC to 20 host communities of slots-at-racetrack
facilities and charity casinos.
“Today’s payment brings to more
than $190 million in total distributions to
our host communities since these programs were
launched,” said Ron Barbaro, OLGC chair
and CEO.
Thousand Islands Charity Casino opened on June
20, 2002. Since opening, the facility has attracted
more than 800,000 visitors – an average
of approximately 2,800 patrons per day.
Each charity casino host municipality receives
five per cent of the casino’s gross slot
machine revenue. Funds are used at the discretion
of the municipality.
Revenue from Ontario’s charity casinos
as well as slots-at-racetrack facilities and
lotteries guarantees $100 million annually for
the Province’s charities. This money is
distributed to charities through the Ontario
Trillium Foundation.
Two per cent of the annual gross slot revenue
from charity casinos and slot facilities at
racetracks goes to the Ministry of Health and
Long-Term Care for problem gambling research,
treatment, prevention and public awareness.
This is more than any jurisdiction in North
America. Based on this two per cent formula,
the amount for fiscal 2002/2003 was estimated
at $29 million.
Thousand Islands Charity Casino is owned, operated
and managed by OLGC.
