Race­way keeps pay­ing out

The Woolwich Observer - - NEWS -

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.

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