Town of Milton receives $1.8 million ...

Town of Milton receives $1.8 million in Slots at Mohawk revenue

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Halton Hills got OOOO

Georgetown, Canada

#1 Jul 27, 2013
Town of Milton receives $1.8 million in Slots at Mohawk revenue

Milton Canadian Champion
The Town of Milton has received more than $1.8 million from the Ontario Lottery and Gaming Corporation (OLG) for hosting slots at Mohawk Racetrack.

The revenue was the Town’s first quarter payment under the new fee agreement between host municipalities and the provincial agency responsible for province-wide lottery games and gaming facilities.

Based on an escalating scale of slots machine revenue that’s consistent in host sites across Ontario, municipalities receive 5.25 per cent on the first $65 million of slot revenue, three per cent on the next $135 million, 2.5 per cent on the next $300 million and 0.5 per cent on the revenue above $500 million. Municipalities also receive four per cent on table game revenue.

The new payment formula is part of the OLG’s efforts to modernize the province’s lottery and gaming industry and improve its delivery in Ontario.

“Host communities are able to invest in important local programs and infrastructure with revenue from OLG gaming sites,” said Minister of Finance Charles Sousa.

“The modernization of Ontario’s lottery and gaming business will stimulate economic development, create new jobs and continue to support public priorities like health care.”

To date, the Town of Milton has received more than $80 million in gaming revenue.

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