It has been reported that Ottawa City Council has agreed on a new revenue-sharing deal between itself and the Ontario Lottery and Gaming Corp. The deal has to do with the split of revenue from slot machines housed at Rideau Carleton Raceway.
As a report by metronews.ca explains, the new deal will take effect after the current slots-at-racetracks agreement ceases on April 1, 2013.
The deal, which has become somewhat standard in 'racino' jurisdictions across the province, will see the City of Ottawa retain 5.25 per cent of the first $65 million in slot revenues. The revenue-sharing breakdown beyond the initial $65 million is varied through a sliding-scale breakdown.
According to the article, the deal is expected to see the City of Ottawa reap roughly $1.3 million more than what it does under the current deal.
(With files from metronews.ca)