City of Woodstock receives over $370,000 from OLG.
WOODSTOCK -- The City of Woodstock received their first quarter payment from the Ontario Lottery and Gaming Corporation Monday.
A cheque for $370,051 was issued to the Friendly City for hosting OLG Slots at Woodstock Raceway. The non-tax gaming revenue is from April to June 2014.
In a release from the OLG, Minister of Finance Charles Sousa says "host OLG communities benefit in many ways from their partnerships with local gaming sites, including increased tourism and job opportunities."
The revenue is used to support programs and infrastructure projects within the city.
The payments are made under an equitable formula in the Municipality Contribution Agreement that determines the fee municipalities receive for hosting an OLG gaming facility and are based on an escalating scale of slot machine revenue that is consistent across all sites in Ontario.
To date, the city has received more than 13.8 million dollars in non-tax gaming revenue from the OLG.

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