Casino News

Pickering Casino Resort Brings in CA$6M Revenue in Q1

Over the course of last week, the Ontario Lottery and Gaming Corporation sent out its quarterly gaming allocations to casino host communities. The City of Pickering received one worth just over CA$6 million for hosting Pickering Casino Resort. According to the OLG, in total 29 host communities received CA$43,534,007 for the first quarter of 2023-2024.

Inked more than two decades ago, the Municipality Contribution Agreement allows the Crown corporation to share a portion of its gambling revenue with communities which host its casinos. Its host community allocations are determined on a formula applied across all Ontario gaming locations via a graduated scale of gaming income at each property.

Q1 Payment Arrives

For the quarter of April 1, 2023, through June 30, 2023, or Q1 for 2023-2024, the City of Pickering bagged a payment worth CA$6,126,075 for hosting Pickering Casino Resort. Despite the casino only launching in July 2021, it has already contributed over CA$30 million in non-tax gambling revenue to the cityโ€™s coffers. Hence funding important projects in the community.

A while ago, Pickering-Uxbridge MPP Peter Bethlenfalvy stated that the host communities support important community programs and services and boost their local infrastructure via these gaming allocations. He added that these allocations aid in financing the crucial programs and services that residents can depend on in the future. Since 1994, communities have received more than CA$2 billion in such revenue.

Sharing Proceeds with Durham

In March 2023, the city agreed to share a portion of its casino revenue with the Region of Durham. Pickering Mayor Kevin Ashe commented that the city is taking proactive steps towards building a stronger, more equitable community for everyone by sharing casino allocations. It is expected that Durham will use a percentage of the money towards funding social housing projects.

The contract backdates to January 1, 2023, and states that Pickering will keep the first CA$10 million in revenue from the OLG, and then share the balance evenly with Durham. There is a cap of CA$8 million per year. Estimates find that the city gets approximately CA$16 million from the casino annually, which would mean CA$3 million every year for the region.

Now Touting a Premium Hotel

As a relatively new gambling resort, Pickering Casino Resort launched operations in July 2021, but its hotel commenced operations this January. Pickering Casino Resort Hotel boasts 275 rooms which vary from 388 square feet to 775 square feet. There are also 33 luxurious and spacious suites equipped with separate living spaces and 22 accessible rooms with thoughtful and convenient adjustments.

Each room and suite come with a residential feel and numerous conveniences, stunning city or lake views, amenities, such as free Wi-Fi, fridge, safe, a 55-inch smart TV, as well as complimentary parking. For the launch, the operator has introduced a special benefit until January 31, 2023, for Great Canadian Rewards members were able to benefit from special discounts.

Source: โ€œPickering receives more than $6 million for hosting casino from April 1 to June 30โ€ Durham Region, July 21, 2023