Tag: revenue

Audit: Niagara Falls will run out of cash reserves by year’s end due to casino dispute

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From the Buffalo News:

The City of Niagara Falls will run out of its fund balance by the end of the year because of a dispute over Seneca casino revenue, according to an audit issued Tuesday by the state Comptroller’s Office.

The city, caught in the middle of a dispute over the sharing of casino revenue between the state and the Seneca Nation of Indians, also has failed to maintain an updated multi-year financial plan, according to the audit.

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Niagara Falls receives nearly $8 million from OLG in first quarter

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From Niagara This Week:

The city is set to surpass the $100-million mark in revenues derived from hosting two OLG casinos.

Niagara Falls received a first-quarter payment of $7.8 million from the OLG as a part of its hosting agreement for Casino Niagara and Fallsview Casino Resort. The payment brings the total non-tax gaming revenue paid to the city to $98.9 million since Casino Niagara first opened its doors in 1996.

“OLG gaming revenue provide essential funding to host communities, which offers greater ability to invest in infrastructure projects as well as important local programs and services that benefit families,” said Charles Sousa, Ontario’s minister of finance. “These funds directly benefit Ontario’s critical public services such as health care and education, and local development.”

Casino operator controversy in Niagara

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From the St Thomas Times Journal:

Niagara’s mayor and regional chairman have asked the province to scrap plans to select new operators for the region’s two casinos.

In a letter to Finance Minister Charles Sousa, Mayor Jim Diodati and Niagara Regional Chairman Alan Caslin asked the government to terminate an ongoing request for pre-qualification and request for proposal process for a new service provider for Casino Niagara and Fallsview Casino. Read More…

Niagara Falls receives latest OLG payout

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From Niagara This Week:

More than $7 million has been added to City coffers after The Ontario Lottery and Gaming Corporation (OLG) its first-quarter share of casino revenues

The City received a non-tax gaming revenue payment of $7,153,022 for hosting Casino Niagara and Fallsview Casino Resort. Since December 1996, Niagara Falls has received more than $73.6 million in non-tax gaming revenue.

Niagara Casinos generate record gaming revenue

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From the Niagara Falls Review:

Niagara Casinos enjoyed a record-earning year in 2015 with nearly $700 million generated in gross gaming revenue.
“We’ve been working towards this for some time,” said Niagara Casinos president Art Frank. “Our winning mix included the right number of great associates working together to deliver superior customer service, a suite of innovative marketing initiatives that resonated with our customers, and favourable economic factors like the weak Canadian dollar and low gas prices that boosted tourism in the area.”

Niagara Falls receives Q4 payment from OLG

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From Niagara This Week:

City coffers have swelled by more that $5 million as The Ontario Lottery and Gaming Corporation (OLG) issued its fourth-quarter (January to March, 2016) non-tax gaming revenue payment.

In total, the City received $5,275,019 for hosting Casino Niagara and Fallsview Casino Resort. Since December 1996, Niagara Falls has received more than $66.4 million in non-tax gaming revenue.

This year alone, payments to the City have come in at more than $23 million.

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NPC exec’s $395,000 expenses to hit Queen’s Park

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From the Niagara Falls Review:

The $395,000 expenses claimed by recently departed Niagara Parks Commission executive Joel Noden are expected to come up during Question Period at Queen’s Park this morning, staff in NDP Leader Andrea Horwath said.

The Globe and Mail reported Noden, formerly the revenue, marketing and business development manager, racked up close to $400,000 in expenses between 2006 and 2009. The paper used access to information legislation to get his credit card records.

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