THUNDER BAY – Last year Thunder Bay received $2.4 million in shared revenue from the Thunder Bay Casino operated by the Ontario Lottery and Gaming Commission (OLG). A spokesperson for Minister of Finance Charles Sousa stated, “Under the new formula announced on Friday, which includes revenue from table games, it is estimated the city will receive $2.6 million. Again this is an estimate based on customers and how much they will spend”.
“Modernization is about more than benefiting one community or one facility; it’s about benefiting all Ontarians by providing more money for hospitals and community infrastructure projects across the province,” stated Charles Sousa, Minister of Finance.
Under the new formula, host municipalities will receive:
- 5.25 per cent on the first $65 million of slot revenue
- 3.0 per cent on the next $135 million of slot revenue
- 2.5 per cent on the next $300 million of slot revenue
- 0.5 per cent on slot revenue above $500 million
- 4.0 per cent on table game revenue
The Cities of Niagara Falls and Windsor as hosts of resort casinos, which have until now been receiving fixed fees plus payments in lieu of property tax under agreements, will now also be compensated under the new formula.
Based on the new formula and implementing OLG’s modernization plan, OLG would expect to provide over $50 million more annually to host municipalities by 2017-18. This is part of the Ontario government‘s commitment to the OLG’s modernization while providing fairness throughout the entire province.