GANANOQUE, TOWNSHIP SHARE $697,262 IN CASINO
PROFITS
Leeds and Thousand Islands and Gananoque received
$697,262 today for hosting the Thousand Islands
Charity Casino, announced Leeds-Grenville MPP
Bob Runciman. The payment was for the host municipalities’
third-quarter share of the slots revenue (October
to December 2002).
Under the hosting agreement agreement, each
municipality received $348,631. To date, Leeds
and Thousand Islands and Gananoque have received
more than $1.6 million in non-tax gaming revenue.
Payments are made on a quarterly basis according
to the government fiscal year (April –
March).
Runciman says, “today’s payment
highlights this Government’s pledge to
maximize the economic benefits of the charity
casino program for host communities. Thousand
Islands Charity Casino has generated over 400
new jobs and created an annual payroll of more
than $12 million – money which ultimately
re-circulates back into the local economy.”
In total, more than $16.8 million in third-quarter
non-tax gaming revenue payments were issued
today by OLGC to 20 host communities of charity
casinos and slots-at-racetrack facilities. “To
date, we have distributed more than $174 million
to our host communities since these programs
were launched,” said Ron D. Barbaro, OLGC
Chair and CEO. “The positive relationships
we have developed with our host municipalities
have contributed enormously to the success of
the charity casino and slots-at-racetrack programs.”
Thousand Islands Charity Casino opened on June
20, 2002. Since opening, the facility has attracted
more than 570,000 visitors – an average
of approximately 3,100 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 is estimated
at $29 million.
Thousand Islands Charity Casino is owned, operated
and managed by OLGC.
