The Ontario Lottery and Gaming Corporation (OLG) has issued a third-quarter (October to December, 2013) non-tax gaming revenue payment of $485,670 to the Township of Centre Wellington for hosting OLG Slots at the Grand River Raceway.
To date, Centre Wellington has received more than $19 million in non-tax gaming revenue.
“OLG gaming sites generate substantial revenues for municipalities and makes available greater resources to invest in their priorities,” said Charles Sousa, minister of finance.
“Host communities are able to access more funding and improve local programs and services. Additional revenues to the province also go towards important public services like health care and education,” Sousa added.
These payments are made under an equitable formula in the Municipality Contribution Agreement that determines the fee municipalities receive for hosting an OLG gaming facility and are based on an escalating scale of slot machine revenue that is consistent across all sites in Ontario.
Under the agreement, municipalities receive:
– 5.25% on the first $65 million of slot revenue;
– 3.0% on the next $135 million of slot revenue;
– 2.5% on the next $300 million of slot revenue;
– 0.5% on slot revenue above $500 million; and
– 4.0% on table game revenue
Officials say OLG’s modernization will increase revenue for the province, create some 2,300 net new industry jobs and about 4,000 service sector jobs, improve how lottery and gaming is delivered in Ontario, and expand OLG’s approach to responsible gambling.
In 2013-2014, the province will allocate $115 million in gaming revenue to support charities through the Ontario Trillium Foundation. Every year, the Ontario government allocates funding to the province’s problem gambling program for research, treatment and prevention. The amount for 2013-14 is budgeted at $41 million.
