The Ontario Lottery and Gaming Corporation has issued a fourth-quarter (January to March, 2014) non-tax gaming revenue payment of $443,902 to the Township of Centre Wellington for hosting OLG Slots at the Grand River Raceway in Elora.
To date, Centre Wellington has received more than $20.4 million in non-tax gaming revenue.
“Host OLG municipalities invest the shared gaming site revenues in important local programs and infrastructure projects, creating robust communities,” said Charles Sousa, minister of finance.
“The modernization of Ontario’s lottery and gaming business will also result in additional revenues for the province to protect key public services like health care and education.”
These payments are made under a 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 consistent across Ontario.
Under the agreement, municipalities receive:
– 5.25 per cent 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.
