The Downtown Business Improvement Area has agreed to drop its challenge of the casino in return for $150,000 annually for 20 years.
That money will be used for a number of things including improved security in the city’s core.
The casino is still slated to be built on Crawford Drive, despite earlier reports it could be moved to the downtown.
Great Canadian Gaming Corporation, a majority shareholder and lead operator of the Ontario Gaming East Limited Partnership, plans to build the Shorelines Peterborough casino later this year. The corporation plans to move its slots currently at Shorelines Kawartha Downs in Fraserville.
Monday evening, city councillor Andrew Beamer spoke about the financial advantages the casino is expected to bring once completed: