Last month, Cavan Monaghan received the first quarter gaming revenue payment for the period running from April 1st to June 30thin the amount of $69,938, bringing the total receipts from this source since the gaming site opened in November 1999 to more than $62 million. It also provided a payment of $721,281 to the city of Peterborough for the same period, bringing their total receipts since the Peterborough casino opened in October 2018 to $15.8 million.
These payments to host communities are based on a formula in the Municipality Contribution Agreement that is consistently applied across all land-based casino sites in Ontario using a graduated scale of gaming revenue at the hosted site.
OLG is proud to share proceeds of casino gaming with local communities, contributing to economic development including infrastructure and job creation. Payments to host communities are part of OLG’s commitment to Ontario, which includes reinvesting 100 per cent of OLG’s profits back into the province.
“OLG is a strong partner that provides substantial benefits to Cavan Monaghan,” said Laurie Scott, Member of Provincial Parliament for Haliburton-Kawartha Lakes-Brock. “In addition to creating jobs at Shorelines Slots at Kawartha Downs, important investments in Cavan Monaghan’s public services are made possible through OLG’s sharing of casino revenue.”