OLG makes 4th-quarter payment of $743K in casino revenue to Peterborough
The Ontario Lottery and Gaming Corporation (OLG) issued a fourth-quarter payment of non-tax gaming revenue totalling $743,297 to the City of Peterborough last week.
The payment, which includes revenue from Jan. 1 to March 31, 2019, is for hosting Shorelines Casino Peterborough, which opened last fall.
During OLG’s fiscal year, which ran from April 1, 2018 to March 31, 2019, the city received $1,448,903.
Since October 2018, Peterborough has received more than $1.4 million in non-tax gaming revenue.
“OLG shares revenues with host municipalities to help them invest in local priorities, including community services and infrastructure,” said Peterborough-Kawartha MPP Dave Smith.
“These payments are part of our government’s commitments to support municipalities and to protect what matters most — our critical services, including our world-class health-care and education systems.”
Additionally, the OLG made a fourth-quarter payment of $81,059 to Cavan Monaghan Township for hosting Shoreline Slots at Kawartha Downs in Fraserville.
During OLG’s fiscal year, the Township of Cavan Monaghan received $1,692,634.
Since November 1999, Cavan Monaghan has received more than $60.1 million in non-tax gaming revenue.
Payments are made under an equitable formula in the Municipality Contribution Agreement that determines the amount of funding that municipalities receive for hosting a gaming facility and are based on a graduated scale of gaming revenue that is consistent across all sites in Ontario.
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