City losing at the track
Toronto has not received a fair share of the brimming jackpot generated by slot machines at Woodbine Racetrack. A provincial formula for splitting this windfall has long discriminated against Toronto, which is why a new funding deal is needed to fix this unfair arrangement.
The city's executive committee has voted to open talks to that end with the Ontario Lottery and Gaming Corporation. In the interest of fairness, provincial officials should give the city what it needs.
Equipped with about 1,950 "one-armed bandits," Woodbine has more slot machines than any of Ontario's other 16 racetracks.
Cities with racetracks currently keep 5 per cent of what is earned by a site's first 450 machines, and only 2 per cent of what is generated by the rest. But most tracks have 450 or fewer machines and, therefore, provide their cities with a full 5 per cent. This formula, however, leaves Toronto with 1,500 machines generating just 2 per cent. As a result, the city gets less than its share of overall municipal slot commissions.
Toronto is asking for 10 per cent of Woodbine slot earnings, which amounts to about $55 million. This is the same as what horse breeders get and what the track's owner is paid. That seems a fair place to start.
One thing is a sure bet: This city needs all the financial help it can get.
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