Peterborough receives $620K casino revenue payment, $86K for Cavan Monaghan
Tuesday 21st April 2020
The Ontario Lottery and Gaming Corporation (OLG) issued a fourth-quarter payment of non-tax gaming revenue totalling $620,889 to the City of Peterborough this week and $86,016 to the Township of Cavan Monaghan.
The payments, which include revenue from Jan. 1 to March 31, are for the city hosting Shorelines Casino Peterborough and the township hosting Shorelines Slots at Kawartha Downs.
According to the OLG, since the Peterborough casino opened in October 2018, the city has received more than $4 million in non-tax gaming revenue.
In the 2019-20 fiscal year, the city received $3,105,693, while the township received $460,953. Since the slots opened in 1999, Cavan Monaghan has received more than $60 million in non-tax gaming revenue
The OLG closed all of its casinos in Ontario on March 16 following advice from public health authorities due to the coronavirus pandemic.
"During these unprecedented times, we all feel a closer connection to our local community. Often the biggest impacts are the result of actions we take to help our neighbours," Peterborough-Kawartha MPP Dave Smith and Haliburton-Kawartha Lakes-Brock MPP Laurie Scott said in a joint statement.
"This fourth-quarter payment comes at a vital time as all levels of government work together to support people and employers during the COVID-19 pandemic."
This quarter's payment was impacted by approximately 15 days' worth of lost revenue, the OLG stated, and the July payment will also be impacted.
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.