London's share of 2022-23 casino profits a cool $5 million
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The city’s slice of gambling profits from Gateway Casinos London at Western Fair District totals $5 million for the year.
The city of London was handed a cheque from the Ontario Lottery and Gaming Corp. (OLG) at a Tuesday city council meeting that will help pay for a range of city services.
“This revenue has played a crucial role in funding not-for-profits and community grant programs,” Mayor Josh Morgan said at the meeting.
London and other Ontario municipalities that host gaming sites receive quarterly payments from the OLG based on a formula.
More than $369,000 of the casino revenue will go to the Boys’ and Girls’ Club of London and $256,000 will be used to support the Middlesex Heritage Museum. The remaining funds will be used for a range of other projects including renovations to Dearness Home, community centre and park upgrades, parking lot improvements and road work, Morgan said.
The revenue is from April 2022 to March 2023. In total, the city has received $93.7 million from OLG in gaming revenue since 1999.
“It is a cornerstone of support for local programs,” Morgan said.
Gateway Casinos employs 244 people at its Western Fair site and an expansion expected to be completed in 2025 will add another 100 jobs, the mayor said.
“We reinvest 100 per cent of our profits into Ontario. We are proud of making a positive impact in the community along with our partners at Gateway Casino,” said Kathleen Devine, a senior manager at OLG at city council for the announcement.
