Quarterly payment is city's share of gambling money
“OLG host municipalities invest shared gaming site revenues in important local programs and infrastructure, creating more robust communities,” said Rick Bartolucci, MPP for Sudbury, in a news release. “The modernization of Ontario’s lottery and gaming business will result in additional revenues for the province to protect important public services like health care and education.”
Under the revenue sharing agreement, municipalities receive 5.25 per cent on the first $65 million of slot revenue, three per cent on the next $135 million and 2.5 per cent on the next $300 million.
The OLG is a provincial agency responsible for provincewide lottery games and gaming facilities. Since 1975, OLG has provided nearly $38 billion to the province, helping to fund health care, education, research, prevention and treatment of problem gambling, amateur sport through the Quest for Gold program, and local and provincial charities.