In the world of sports, every quarter matters. And for the City of Peterborough, the fourth quarter gaming revenue payment has shown a slight increase compared to the previous quarter. According to data released by the Ontario Lottery and Gaming Corp., the city received $716,378 for hosting Shorelines Casino Peterborough from Jan. 1 to March 31. This is up from the $707,495 received in the third quarter (Oct. 1 to Dec. 31, 2022).
Host communities around the province receive non-tax gaming revenue payments under the Municipality Contribution Agreement formula, which determines the amount of funding they receive for hosting a gaming facility. Since the opening of the Shorelines Casino Peterborough in October 2018, the city has received $9,404,365 in non-tax gaming revenue.
Similarly, neighbouring Cavan Monaghan Township received a fourth-quarter payment of $78,447 for hosting Shorelines Slots at Kawartha Downs south of Peterborough. This payment is down from the $85,880 received in the third quarter (Oct. 1 to Dec. 31, 2022). They have received $385,974 for the fiscal year, while since the gaming site opened in November 1999, Cavan Monaghan has received $61,373,837 in non-tax gaming revenue.
Great Canadian Gaming owns both sites. The OLG states that since 1994, host communities across the province have received more than $2 billion in non-tax gaming revenue. Municipal Contribution Agreement payments from OLG are crucial for building strong communities where families and individuals can enjoy high-quality lives. They help support local programs and crucial infrastructure.
Therefore, the non-tax gaming revenue is an essential source of income for the City of Peterborough and Cavan Monaghan Township. It enables them to support the development of their communities, while also providing vital services to their residents. Hosting gaming facilities has become a critical aspect of their local economy, and they’re now reaping the benefits of their investment.