Georgian Downs is paying off for Innisfil.
The Ontario Lottery and Gaming Corporation (OLG) has just issued a third-quarter payment of more than $970,000 to the Town of Innisfil for hosting slots at Georgian Downs.
“OLG’s host fees provide municipalities with important funds to enable investments in their communities,” said Ontario Finance Minister Charles Sousa. “People all across Ontario benefit from OLG revenues that support broader public services including health care and education.”
Although the year-end figures are not yet available, Innisfil stands to make just under $4 million from the slots this year. Under the current payment system, the town has received more than $75 million from the OLG since 2001 as non-tax gaming revenue. The payments are made under a formula devised for slot-hosting municipalities on a graduated scale of revenue.
The OLG pays out about $2 billion annually and is Ontario’s largest source of non-tax revenue.