Post by admin on Jul 23, 2010 8:41:29 GMT -5
Innisfil received nearly $1.1 million for hosting OLG Slots at Georgian Downs.
The payment was for the host municipality’s first-quarter share of slots revenue (April to June). To date, Innisfil has received more than $38.7 million in non-tax gaming revenue. Payments are made on a quarterly basis, according to the government fiscal year, which runs annually from April to March.
OLG Slots at Georgian Downs opened on November 27, 2001. Since opening, the facility has attracted more than 9.6 million visitors.
In total, OLG issued more than $18.3 million in first-quarter non-tax gaming revenue payments to 23 municipalities that host OLG casinos and slots-at-racetrack facilities. To date, OLG has distributed $705.9 million to these host municipalities.
Each municipality hosting an OLG slots-at-racetrack facility receives five per cent of the gaming facility’s gross slot machine revenue from the first 450 machines, and two per cent from any additional ones over that number. Funds are used at the discretion of the municipality.
Tracks also share the revenue generated by the slots program, with 20 per cent of gross machine revenue split evenly between the two groups. Since the launch of the program in 1998, more than $3.16 billion has been shared between racetrack and horse owners.
In 2010 and 2011, the province will allocate $120 million in gaming revenue to support charities through the Ontario Trillium Foundation.
Every year, the Ontario government allocates two per cent of gross revenue from slot machines at OLG casinos and slots-at-racetrack facilities to the province's problem gambling program for research, treatment and prevention. The amount for fiscal 2010 and 2011 is estimated at $39 million.
The payment was for the host municipality’s first-quarter share of slots revenue (April to June). To date, Innisfil has received more than $38.7 million in non-tax gaming revenue. Payments are made on a quarterly basis, according to the government fiscal year, which runs annually from April to March.
OLG Slots at Georgian Downs opened on November 27, 2001. Since opening, the facility has attracted more than 9.6 million visitors.
In total, OLG issued more than $18.3 million in first-quarter non-tax gaming revenue payments to 23 municipalities that host OLG casinos and slots-at-racetrack facilities. To date, OLG has distributed $705.9 million to these host municipalities.
Each municipality hosting an OLG slots-at-racetrack facility receives five per cent of the gaming facility’s gross slot machine revenue from the first 450 machines, and two per cent from any additional ones over that number. Funds are used at the discretion of the municipality.
Tracks also share the revenue generated by the slots program, with 20 per cent of gross machine revenue split evenly between the two groups. Since the launch of the program in 1998, more than $3.16 billion has been shared between racetrack and horse owners.
In 2010 and 2011, the province will allocate $120 million in gaming revenue to support charities through the Ontario Trillium Foundation.
Every year, the Ontario government allocates two per cent of gross revenue from slot machines at OLG casinos and slots-at-racetrack facilities to the province's problem gambling program for research, treatment and prevention. The amount for fiscal 2010 and 2011 is estimated at $39 million.