TORONTO, May 17, 2013 /CNW/ - Today OLG announced a new funding formula as part of our Municipality Contribution Agreement. The new formula provides more money to all host municipalities, while ensuring equal treatment across the province.
Under this formula, the City of Ottawa will continue to receive approximately $5.7 million annually to host Slots at Rideau Carleton. With the addition of revenue for table games, Ottawa could receive over $11 million in 2017-18.
For host municipalities across the province, the opportunity to host a gaming facility continues to be excellent: jobs, economic development, capital investment, hosting fees and property tax.
Note: The estimated hosting fee for Ottawa is calculated using revenue figures at Rideau Carleton for Fiscal 2013, and is meant for illustrative purposes only.
SOURCE: OLG
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