Raceway keeps paying out
The Township of Centre Wellington is $586,624 richer thanks to a secondquarter (July to September) non-tax gaming revenue payment from the Ontario Lottery and Gaming Corporation, received for hosting OLG Slots at Grand River Raceway.
Centre Wellington has received more than $27.9 million to fill its coffers since the facility first opened in 2003. 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 that is consistent across all sites in Ontario. Under the agreement, municipalities receive: 5.25% on the first $65 million of slot revenue; 3% 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, the new element, 4% on table game revenue.
At approximately $2 billion annually, OLG provides the Ontario government with its largest source of non-tax revenue. Some $115 million has been allocated this year for distribution through the Ontario Trillium Foundation.