Canadian Towns Benefit from Lottery Funds
The Ontario Lottery and Gaming Corporation makes quarterly payments to cities and towns that host slot machines on behalf of the group.
Towns such as Hamilton and Fort Erie enjoyed significant payments this week, and the money will be used towards local projects and education.
Hamilton, for example received $1.149 million more from the OLGC this week, as its second quarter share of slots revenue.
Hamilton has been hosting slot machines at Flamboro Downs since October, 2000 and is currently celebrating 10 years of this service.
OLG executives and municipal dignitaries marked the event with a toast at Flamboro Downs on Friday.
So far, Hamilton has enjoyed payments of $44 million since it started hosting slot machine at the Downs, with payments made on quarterly basis.
Slots also added $400,000 to the coffers of the town of Fort Erie this week.
This is for the town's share of revenues generated by slots located at the Fort Erie Race Track for the quarter of July to September, 2010.
The OLGC pays the town 5% of the gross slot machine revenues on the first 450 machines and 2% beyond those first 450.
Like Hamilton, Fort Erie has been hosting slot machines for the Ontario Lottery and Gaming Corporation for over a decade.
Since slots were first introduced to Fort Erie in 1999, the town has received over $30 million in revenues.
The slots are operated by the OLGC, while the rest of the track is run by the Fort Erie Racing Consortioum.
