Readers may be aware that the Ontario Lottery and Gaming Corporation (OLG) is modernizing the provincial lottery and gaming industry to ensure its long-term success.
OLG generates about $2 billion annually in profit which is returned to the province of Ontario. This money is used to help fund provincial priorities such as hospitals and municipal infrastructure. When modernization is complete, additional revenue will be available for these provincial priorities. Also, a modern OLG will help create thousands of jobs and drive more than $3 billion in capital investments across Ontario.
OLG has prepared a chart, which clarifies a few issues that have been raised recently regarding horse racing and OLG’s modernization procurement process.
A change to what’s included in the hosting fee for OLG Casino Brantford could mean a more than 50% increase in the cash the city collects each year.
The change, announced by the Ontario Lottery and Gaming Corp. on May 17, covers the hosting fee payments Brantford receives as of April 1. The new formula to determine the city’s quarterly payments replaces the one that was in the agreement approved by city council in November.