Last full quarter revenue for Dresden casino is over $200K
In its last hoo-rah Gateway Casinos Dresden brought in a fair amount of money for the municipality.
In a statement issued on Friday, the Ontario Lottery and Gaming Corporation (OLG) said the quarterly results were tallied between April 1 and June 30 and resulted in non-tax gaming revenue payment of $237,847 to the Municipality of Chatham-Kent for hosting the casino.
These payments are made under an equitable formula in the Municipality Contribution Agreement that determines the amount of money municipalities receive for hosting a gaming facility. The number is based on a graduated scale of gaming revenue that is consistent across all sites in Ontario.
Since April 2001, Chatham-Kent has received more than $12 million in non-tax gaming revenue.
OLG provides the Ontario government with its largest source of non-tax revenue from Government Business Enterprises. In 2017-2018, this amounted to $2.49 billion, the release stated.
Shortly after 4:30 p.m. on July 16, Cascades Casino in Chatham officially opened it’s doors to the public and it was met with excitement and awe. With over 150 people waiting outside, casino officials opened the doors a few minutes ahead of the 5 p.m. scheduled time. When the doors finally opened, cheers erupted from the crowd as people poured inside.
The opening of the new casino resulted in the closure of Gateway Casinos Dresden the night before.