Casino News

OLG Returns Gaming Profits to Ontario Communities

This week, the Ontario Lottery and Gaming Corporation announced that it has sent out its quarterly gaming allocations to Ontario host communities. Payments are for the third quarter which concluded on December 31, 2022, and the City of Peterborough and the Cavan Monaghan Township have received their fair share for hosting gaming properties in their territories.

OLG sanctions its revenue-sharing payments to local communities via the Municipality Contribution Agreement, which was inked decades ago. Via the contract, the provincial government must share a percentage of its casino revenue with communities that serve as hosts to the Crownโ€™s casinos. Each municipality received allocation depending on a predetermined formula.

Third-Quarter Payments Arrive

The Crown agency reports that it has sent its quarterly payments to provincial communities. For the third quarter that ended on December 31, 2022, the City of Peterborough pocketed a sum of CA$707,495 for hosting the gaming hotspot Shorelines Casino Peterborough. The funds will be used by the cityโ€™s administration to fund capital projects and other important community initiatives.

It should be noted that the payment is slightly lower that the one from the previous second quarter which concluded on September 30, 2022, and it was in the size of CA$791,037. For the current fiscal year which ends on March 31, 2023, the city has bagged a hefty CA$2,217,922. Meanwhile, since the launch of the casino in October 2018, the community has received CA$8,687,987.

In the fall of 2022, Shorelines Casino Peterborough entered a new era of its gaming operations, as the gaming amenity became one of the first Ontarian properties to offer retail sports betting to its patrons. Located at the Parkway and Crawford Drive, the casino now allows its guests to place wagers on numerous sporting events, either via kiosks or via the casino cash cages.

Besides, Peterborough, the Cavan Monaghan Township has also received a quarterly allocation from the OLG, worth CA$85,880 in non-tax gaming revenue for hosting Shorelines Slots at Kawartha Downs in Fraserville. Its payment is also slightly down from the CA$112,579 recorded in the second quarter and the CA$109,068 from the first quarter.

For the current fiscal year, the town has already received CA$307,572, discloses the OLG. The casino first opened its doors in November 1999, and since then the town has amassed CA$61,295,390 in gaming revenue. It should also be mentioned that the two aforementioned gaming properties are owned and operated by Great Canadian Entertainment Corporation.

Retail Sports Betting is Now Available

After the debut of legal sportsbook wagering across Ontario casinos, most of the gaming establishments now offer retail sports betting. Great Blue Heron Casino & Hotel, Pickering Casino Resort, Elements Casino Brantford and Shorelines Casino Belleville have launched dedicated sportsbooks. Meanwhile, Casino Woodbine, Shorelines Casino Peterborough, Shorelines Casino Thousand Islands, Elements Casino Mohawk, Elements Casino Grand River, and Elements Casino Flamboro offer it via kiosks on gaming floors.

Source: Davis, Greg โ€œOLG makes third-quarter gaming revenue payments to Peterborough, Cavan Monaghan Townshipโ€ Global News, January 18, 2023