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For Immediate Release
June 9, 2000

News Release

Agreement Promotes Economic Development in First Nations

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TORONTO – Today, Jim Flaherty, Attorney General and Minister Responsible for Native Affairs, signed the Casino Rama Revenue Agreement on behalf of Ontario. The agreement transfers more than $400 million in net revenues from Casino Rama, and future net revenues, to a First Nations Fund. The Fund will be distributed to more than 100 First Nations across Ontario to promote economic development and self-sufficiency. The other signatories are Regional Vice Chief Tom Bressette of the Chiefs of Ontario, Chief Lorraine McRae of the Mnjikaning First Nation and Ron D. Barbaro, Chair and CEO of the Ontario Lottery and Gaming Corporation.

"The Fund will benefit all of the First Nations throughout Ontario by creating jobs and increasing economic activity," said Mr. Flaherty. "We're fulfilling our Blueprint commitment by building on the progress made under Ontario's Building Aboriginal Economies Strategy, and strengthening self-reliance in Aboriginal communities. We want to ensure that these communities are part of our pro-growth, job creation agenda."

Ontario's Gaming Secretariat will oversee implementation of the Agreement on behalf of the Province to ensure full accountability of the fund. This includes the appointment of an independent financial inspector and yearly audited financial statements.

"It is important that all parties be treated fairly," said Chief McRae. "This meant we had to consider factors such as isolation and population in addition to a base amount, in determining the final distribution formula. While ensuring complete fiscal transparency, we also had to decide how best the revenues should be spent. It was agreed that economic development, health, education, culture and community development would be the five areas for investment."

Regional Vice Chief Tom Bressette commented, "The need for these revenues, especially among our many northern communities, is great. These revenues will provide a much anticipated boost to First Nation communities."

Casino Rama was established in order to permit First Nations to participate in the benefits derived from casino gaming and to help First Nation communities to become self-reliant through economic and community development.

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Rosemary Sampson
Ontario Native Affairs Secretariat
416-326-4780

Andrew Reuben
Chiefs of Ontario
416-972-0212

Anne Rappé
Ontario Lottery and Gaming Corporation
416-224-7034