Pickering cashes $3.5 million Q2 casino hosting cheque

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Published October 20, 2022 at 9:54 am

The City of Pickering has been gifted a tidy cheque for more than $3.5 million for hosting the Pickering Casino Resort during the Ontario Lottery and Gaming Corporation’s fiscal second quarter (July 1 – September 30).

So far, during OLG’s fiscal year (April 1, 2022 to March 31, 2023), Pickering has received $8,553,876. Since the gaming site opened a little more than a year ago in July 2021, the City has received $16,396,169 in hosting fees.

These payments to host communities are based on a formula consistently applied across all gaming sites in Ontario using a graduated scale of gaming revenue at the hosted site.

“Revenue from OLG’s Municipality Contribution Agreements supports host communities so they can invest in programs and services that benefit everyone, from neighbourhood parks to local festivals,” said Peter Bethlenfalvy, Member of Provincial Parliament for Pickering-Uxbridge and Ontario’s Finance Minister. “These payments help to improve the quality of life and make Ontario a vibrant and exciting place to live, work and play.”

Payments to host communities are part of OLG’s commitment to Ontario since the casinos were first established, with 100 per cent of OLG’s profits reinvested in the province.

Over the past seven years, service providers have invested an estimated $1.8 billion in private sector capital investment across the province. Since 2017, these investments have led to the development and opening of six new casinos, with one under construction, one planned development and additional gaming expansions.

Since 1994, host communities have received almost $1.9 billion in non-tax gaming revenue.

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