TORONTO, May 17, 2013 /CNW/ - Today OLG announced a new funding formula as part of our Municipality Contribution Agreement (MCA). The new formula provides more money to all host municipalities, while ensuring equal treatment across the province.
The City of Windsor as host of a resort casino, which has until now been receiving fixed fees, will now also be compensated under the new MCA.
Under the new formula, the City of Windsor could receive approximately $11.2 million annually to host Caesars Windsor.
Last year, Windsor received $5 million, which included a flat hosting fee and payments for police services.
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 Windsor is calculated using revenue figures at Caesars Windsor for Fiscal 2013, and is meant for illustrative purposes only.
For further information:
OLG MEDIA RELATIONS 1.888.946.6716