July 16, 2012
Ontario Municipalities Receive $61M Annually From Current Slots Revenue System
The Guelph Mercury reports that there is further evidence that taxes will likely rise when the slots-at-racetracks program ends next March, noting the treasurer for the town of Milton advised that town residents could be hit with a tax increase of between 22 and 25 per cent without a cut of gaming revenue.
Other municipalities would also face shortfalls including Toronto, where the loss of direct revenue from the slot parlour at Woodbine Racetrack is estimated to be more than $15 million annually.
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