The Ontario Lottery and Gaming Corporation has come up with a revised funding formula for any casino in downtown Toronto — and sources tell CBC News that figure will be $100 million annually, or more.

The money would be paid to the city from the casino coffers.

But sources also say the premier and the finance minister have not given final approval to the proposal.

"The government is still considering a formula that in order to be fair will be the same across the province, with no special deals for any one municipality," an official in the premier's office said.

Officially the OLG will only say that it "has completed its province-wide review of the Municipal Contribution Agreement " and the decision is now in the hands of the government.

The casino debate has split Toronto with Mayor Rob Ford and his supporters in favour of a waterfront casino and resort.

Other councillors are dead against the proposal. Opponents say residents don't want a casino downtown.

On Friday, Ford said he believes his side will win when the full council holds a special debate on May 21.

"Absolutely," Ford told reporters at City Hall. "You've asked me this question 10 times."

A major sticking point for everyone involved in the debate is figuring out how much money the province will kick into city coffers if it agrees to host the casino.

Many councillors have said $100 million is the magic figure.

But now that a number is emerging some are saying it's still not enough.

"You obviously have to think seriously about what that [$100 million] could do for the city, not to say it would be a good idea to put a casino at Exhibition," said Coun. Peter Milczyn.

Coun. Adam Vaughan doubts the figure is possible.

"I don't think a figure like this going to get through the premier's office let alone cabinet," said Vaughan. "OLG has been asked to give scenarios - they've probably given everything from $0-$100 million. The question for Queen Park is, what can they afford?

The battle to establish a casino in Toronto has involved the biggest players in the business.

MGM has proposed a CNE location, Caesars has pushed for a location at the Metro Convention Centre.

Council will need to give the green light before either scenario could be explored.

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  • "Assgate"

    <a href="">In March, former mayoral candidate Sarah Thomson accused Rob Ford of grabbing her behind</a> while at an event. She <a href="">later suggested the mayor was so out of it that she wondered if he was on cocaine. Ford has denied the accusations.

  • Goodbye, Hello

    <a href="">In November of 2012, an Ontario Superior Court Judge ordered Rob Ford to be removed from office</a> for violating Toronto's Conflict-of-Interest Act. The ruling stemmed from Ford's participation in a council vote to recommend he repay donations that he solicited for his private football foundation using official city letterhead. After weeks of uncertainty about who would replace Ford, the <a href="">mayor won his appeal</a>, allowing him to remain in power.

  • Football Follies

    <A href="">Ford's role as coach of a high school football team</a> has repeatedly landed him in hot water. From a <a href="">city bus used to ferry the team home</a> after a reported brawl, to <a href="">missed council meetings and court appearances</a>, Ford's gridiron exploits have made headlines again and again. Despite the controversy, Ford has maintained that he's not giving up his other job to focus on running the city.

  • Winnipeg, Windsor, What's The Difference?

    On a trade mission to Chicago, <a href="">Ford infamously confused Winnipeg and Windsor</a>, a verbal stumble that <a href="">prompted chuckles on both sides of the border</a>.

  • Falling Down

    <a href="">A video clip of Ford falling</a> while attempting to throw a football at a Grey Cup event was quickly turned into GIF image that went viral.

  • Driving Mr. Ford

    In October of 2012, a photo hit the web of <a href="">Ford reading while driving</a>. The mayor admitted to doing it, but <a href="">refused to hire a driver</a>, despite pleas from the police and political allies. The incident was far from the first Fordian fail on the road. The mayor has also been <a href="">accused of giving a motorist the finger while driving</a> and has admitted that he <a href="">pleaded guilty to refusing to provide a breath sample</a> after driving under the influence of alcohol in Florida.

  • Unfortunate Photo

    A photo hit the web in September of 2012 of <a href="">Ford posing with a neo-Nazi</a> dressed in a foreign military uniform. Ford explained that he was unaware of the man's political beliefs. At least <a href="">one major Jewish group said it was satisfied the mayor meant no harm</a>.

  • Cut The Waist

    For several months in 2012, <a href="">Ford took part in a very public weight-loss campaign</a>. Weigh-ins staged before the press meant the mayor had nowhere to hide, and after some initial success, he actually started putting on pounds. Ford admitted to giving up soon after.

  • Confrontation With Reporter

    <a href="">Ford called the police in May of 2012 and alleged that Toronto Star reporter Daniel Dale trespassed on his property</a>. Dale denied the allegations and said Ford approached him with a raised fist. Ford would subsequently refuse to speak with reporters from the Star or to co-operate with the paper in any way.

  • No Pride

    <a href="">Ford has twice bucked tradition and refused to attend Toronto's Pride parade</a>, prompting widespread criticism.

  • Calling The Cops On Marg

    Late in 2011, <a href="">Ford called the police after Marg Delahunty (Mary Walsh) and the crew of CBC's satirical show "This Hour Has 22 Minutes" showed up at his home</a>. While other politicians have reacted with laughter when approached by Delahunty, Ford said the "ambush" at his family home crossed the line.