The City of Peterborough has received more than $716,000 from the Ontario Lottery and Gaming Corporation as part of its second-quarter payment for hosting Shorelines Casino Peterborough.
The $716,653 payment covers the period from July 1st to September 30th, bringing the city’s total earnings this fiscal year to $1.43 million. Since the casino opened in October 2018, Peterborough has collected over $16.5 million in hosting revenue.
These payments are calculated through the Municipality Contribution Agreement, which applies a consistent, graduated formula based on gaming revenue at each site across Ontario.
“Peterborough is able to offer local programs and improve the quality of life of our residents through the economic activity generated through revenue from Shorelines Casino Peterborough,” said Dave Smith, Member of Provincial Parliament for Peterborough–Kawartha. “The people of Ontario benefit from OLG’s gaming revenues as 100 per cent of OLG profits are reinvested in the province to support provincial priorities.”
Since 1994, OLG has distributed nearly $2.3 billion in non-tax gaming revenue to host communities.
The corporation says its payments help municipalities fund community priorities, while also contributing to economic growth, infrastructure improvements, and job creation.
Over the past nine years, OLG’s service providers have invested more than $2.9 billion in private sector capital projects across Ontario — leading to the development of seven new casinos, two major resort expansions, and numerous gaming and non-gaming upgrades.
(Written by: Jordan Mercier)
