Ajax/OLG Agreement Reached

Published: November 19, 2012 02:27 pm EST

Ajax Treasurer Rob Ford has commented on Town Council approving a new gaming agreement with the Ontario Lottery and Gaming Corp.

As reported by durhamregion.com, Council approved the pact on November 12. The agreement is scheduled to come into effect on April 1, 2013, the day after the current slots-at-racetracks agreement ceases.

“Our revenue’s no longer tied to the number of (slot) machines ... There’s no risk of our revenues going down if the number of slots was to be increased. That’s a very positive change,” Ford was quoted as saying.

“Under the old agreement, if you increase the number of (slot) machines, your percentages actually dropped. So you could, theoretically, if there wasn’t enough additional revenue from the additional machines, you could actually see a drop in your total revenue. We had never experienced that, but other municipalities had.”

(With files from durhamregion.com)