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Third-quarter gaming revenue dips for Peterborough, Cavan-Monaghan Township: OLG

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Third-quarter gaming revenue payments decreased from the second quarter for both the City of Peterborough and Cavan-Monaghan Township, the Ontario Lottery and Gaming Corporation reports.

On Friday, the OLG announced a third-quarter payment of $704,652 to the city for hosting Shorelines Casino Peterborough.

The payment for the third-quarter period (Oct. 1 to Dec. 31) is down from the $800,021 issued in the second-quarter (July 1 to Sept. 30).

However, the payment is nearly on par with last year’s third-quarter payment of nearly $707,500.

To date during the OLG’s fiscal year (April 1, 2023 to March 31, 2024), the City of Peterborough has received $2,294,602.

Since the casino opened in October 2018, the city has received $11,698,967 in non-tax gaming revenue.

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Cavan-Monaghan Township

The OLG reports that neighbouring Cavan-Monaghan Township received a third-quarter payment of $76,278 for hosting Shorelines Slots at Kawartha Downs in Fraserville.

That payment down from the $89,929 issued during the second-quarter in the fall. Relative to a year ago, it is also down from $112,579 issued in the 2023 third-quarter.

So far, during OLG’s fiscal year, the township has received $251,631 in gaming revenue.

Since Shoreline Slots opened in November 1999, the township has received $61,625,468, the OLG reports.

Great Canadian Gaming owns both gaming sites.

The OLG says payments to host communities are based on a formula applied across at all Ontario gaming sites using a graduated scale of gaming revenue at the hosted site.

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Since 1994, host communities have received more than $2 billion in non-tax gaming revenue, the OLG reports.

The corporation also says that since 2017, casino service providers have invested more than $2 billion in private sector capital across Ontario.

“These investments have led to the development and opening of seven new casinos, one planned development and numerous casino expansions and non-gaming amenities,” the OLG stated.

“OLG continues to provide Municipality Contribution Agreement payments to gaming host communities for vital programs and services that benefit all Ontarians,” stated Peter Bethlenfalvy, Minister of Finance.  “Land-based casinos offer good, local jobs and play an important role in supporting strong, vibrant communities for families to live, work and play.”

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