The Ontario Lottery and Gaming Corporation recently announced the City of Niagara Falls received its final payment of $5.2 million for the fourth quarter for hosting Casino Niagara and Fallsview Casino Resort. The city totally reaped $23 million in the latest fiscal year.
Since December of 1996, Niagara Falls has received more than $66.4 million in non-tax gaming revenue.
Under a formula the city receives 5.25 per cent on the first 65 million for electronic games revenue, three per cent of the next $135 million, 2.5 per cent on the next $300 million and 0.5 per cent on electronic games revenue exceeding $500 million. In addition the city receives four per cent of the live table games.
The casinos had a record breaking year in 2015 bringing in close to $700 million in gross gaming revenue.
In total the casinos reported 9.2 million people visited the casinos in 2015.