Fourth-quarter gaming revenue payments decreased from the third quarter for both the City of Peterborough and Cavan-Monaghan Township, the Ontario Lottery and Gaming Corporation reports.
On Friday, the OLG announced a fourth-quarter (Jan. 1 to March 31) payment of $678,417 to Peterborough for hosting Shorelines Casino Peterborough.
That payment is down from the third-quarter (Oct. 1-Dec. 31, 2023) payment of over $704,000 and also the second-quarter (July 1 to Sept 30) payment of more than $800,000.
It’s also down from the $716,378 issued as a fourth-quarter payment a year ago.
During the OLG’s fiscal year ending March 31, 2024, the City of Peterborough received $2,973,019.
Since the casino opened in October 2018, the city has received $12,377,384 in non-tax gaming revenue, the OLG reports.
Cavan-Monaghan Township
Cavan-Monaghan Township received a fourth-quarter payment of $72,868 for hosting Shorelines Slots at Kawartha Downs in Fraserville.
It’s a dip from the $76,278 issued in the third-quarter.
A year ago, the fourth-quarter payment in 2023 was over $85,000.
During OLG’s 2024 fiscal year, the township received $324,499 in gaming revenue.
Since Shoreline Slots opened in November 1999, the township has received $61,698,336, 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.
Since 1994, host communities have received more than $21 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.
“For decades, profits from gaming have been an important source of funding for Ontario communities, helping to deliver vital services and making a real difference for gaming host municipalities,” states Peter Bethlenfalvy, Minister of Finance.
“This is one of the many different ways Ontario continues to create good-paying, local jobs that play a critical role in supporting our economy, while ensuring a socially responsible gaming environment for people to enjoy.”