Casino pays out to the tune of $337,732Monday, July 21, 2014 by: SooToday.com Staff
ONTARIO LOTTERY AND GAMING CORPORATION
The Ontario Lottery and Gaming Corporation has issued a first-quarter (April to June, 2014) non-tax gaming revenue payment of $337,732 to the City of Sault Ste. Marie for hosting OLG Casino Sault Ste. Marie.
To date, Sault Ste. Marie has received more than $23 million in non-tax gaming revenue.
“OLG host communities benefit in many ways from their partnerships with local gaming sites, including increased tourism, community sponsorships and job opportunities,” said MPP David Orazietti. “In addition, these gaming revenue payments allow municipalities to invest in local priorities for their residents.”
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.
At $2 billion annually, OLG provides the Ontario government with its largest source of non-tax revenue.
Modernization will enable OLG to provide additional revenue to the Province to help fund the operation of hospitals and other provincial priorities.
At the same time, it could help to create jobs across Ontario and trigger private sector investment.
In 2014-2015, the province will allocate $115 million in gaming revenue to support charities through the Ontario Trillium Foundation.
Every year, the Government of Ontario allocates funding to the province’s problem gambling program for research, treatment and prevention.
The amount for 2014-2015 is $39 million.
OLG is a provincial agency responsible for province-wide lottery games and gaming facilities.
Since 1975, OLG has provided nearly $38 billion to the Province and the people of Ontario.
OLG’s annual payments to the Province have helped support health care; education, research, prevention and treatment of problem gambling; amateur sport through the Quest for Gold program; and local and provincial charities.
OLG is modernizing Lottery and Gaming for a better Ontario, modernolg.ca.
“Know your limit. Play within it.” The Ontario Problem Gaming Helpline: 1-888-230-3505