City receives nearly $867,000 from casino revenues
The City of Peterborough has received $866,935 from the Ontario Lottery and Gaming Corporationues from the year-old Shorelines Casino Peterborough in the city’s south end.
Since its opening, the casino has paid more than $3.1 million in non-tax gaming revenue into city coffers.
“Revenues generated at local gaming sites directly contribute to better quality of life for Ontarians,” stated PeterboroughKawartha MPP Dave Smith in a press release from OLG.
“Projects to improve local infrastructure like roads and public transit as well as community programs and services all benefit from OLG’s tremendous partnerships with host municipalities.”
The money is paid to casino host communities through a formula in the Municipality Contribution Agreement that determines the funds municipalities receive for hosting a gaming facility and are based on a graduated scale of gaming revenue, the release states, adding the OLG contributes $2.47 billion per year to the Ontario government.
The city received $743,297 and Cavan Monaghan Township $81,059 from Ontario Lottery and Gaming in April, revenues generated at Shorelines Casino Peterborough and Shorelines Slots at Kawartha Downs in the January to March quarter.
Cavan Monaghan receives funding from the slots still in operation at Kawartha Downs.
Shorelines left some of its operation in place there after opening the larger facility in Peterborough in 2018.
Shorelines Casino Peterborough features 22 table games and some 500 slot machines, while Shorelines Slots at Kawartha Downs continues to operate with about 150 of its previous 500 or so slot machines.