ON - Lotteries churn out cash for Ontario government
Star News Services, Wednesday, December 20, 2006, Windsor Star
TORONTO - Lotteries are still the biggest source of gambling revenue for the Ontario government, far outpacing casinos and slot machines at racetracks.
The Ontario Lottery and Gaming Corp. says it sold $2.3 billion in lottery tickets and instant scratch games in 2004-05.
The province’s four commercial casinos pulled in almost $1.6 billion in revenues in the last fiscal year, while charity casinos and slot machines at racetracks earned $1.9 billion.
After operating expenses were figured in, the $6.2 billion in total gaming revenues was reduced to $1.7 billion, but a so-called “win tax” of 20 per cent of revenues from casinos boosted the net cash flow to the province to $1.96 billion.
Most of the profits from the lotteries, charity casinos and slot machines — about $1.5 billion — will be used to fund hospitals, with another $100 million going to community groups through the Trillium Foundation, $36 million for a problem gambling strategy, and $3 million for amateur athletes.
Profits from the commercial casinos — about $334 million in 2004-05 — go into general government coffers.
© The Windsor Star 2006
© 2006 CanWest Interactive, a division of CanWest MediaWorks Publications Inc.
