Slots Fill City CoffersApril 21, 2017 2:10pm
More than $800,000 poured out of the slots at Western Fair and into city of London coffers in the first three months of 2017.
The Ontario Lottery and Gaming Corporation (OLG) gave $808,091 in slot machine revenue to the City of London in a fourth-quarter payment issued on Friday.
“Revenue from OLG gaming sites allow host communities to invest in important local initiatives such as infrastructure and community programs,” said Deb Matthews, MPP for London North Centre. “These funds also help to provide public services, such as health care and education, to people across the province.”
An equitable formula in the Municipality Contribution Agreement determines the funds municipalities receive for hosting an OLG gaming facility. The payments are based on an escalating scale of gaming revenue that is consistent across all sites in Ontario.
Last year, the city’s cut of slot machine revenue totaled $4.5-million. That money was used for an array of projects including restoration of the Windermere Bridge and upgrades to multi-use park pathways.