New OLG Accounting Procedures Will Net Gaming Host Municipalities 5.25%

Beginning in 2013, all host municipalities will see their share of revenue from Ontario Lottery and Gaming facilities effectively bumped from 5 to 5.25%.

The increase reflects a change in OLG accounting procedures, as it moves from Canadian to International standards, and the attendant effect on the calculation of net revenue.

The new net for municipalities will continue under the OLG’s controversial modernization strategy which calls for gaming facilities to become privately run.

More details are available here in a story in the Bullet News Huron.

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