The Township of Cavan Monaghan got a $724,000 windfall today from the Ontario Lottery and Gaming Commission.
The non-tax gaming revenue payment of $724,045 to the Township is for hosting Shorelines Slots at Kawartha Downs. Since November 1999, Cavan Monaghan has received more than $55.3 million in non-tax gaming revenue according to OLG.
“Revenue from OLG gaming sites allow host communities to invest in important local initiatives such as infrastructure and community programs,” said Jeff Leal, MPP for Peterborough. “These funds also help to provide public services, such as health care and education, to people across the province.”
These payments are made under an equitable formula in the Municipality Contribution Agreement that determines the funds municipalities receive for hosting an OLG gaming facility and are based on an escalating scale of gaming revenue that is consistent across all sites in Ontario.
The Township is set to lose this money after the Casino moves to the City of Peterborough.