The city has received its second payment from Ontario Lottery and Gaming (OLG) for hosting Cascades Casino North Bay.
The first quarter payment (April 1 – June 30) amounts to $394,725.
Since the gaming site opened in March, OLG says North Bay has received $505,859.
“OLG is proud to share proceeds of casino gaming with local communities, contributing to economic recovery, infrastructure development and job creation,” states a release. “ Payments to host communities are part of OLG’s commitment to Ontario – 100 percent of OLG’s profits are reinvested in the province.”
Mayor Al McDonald previously said the casino money will be put into reserves and the next council will develop a policy on where to spend it.
OLG says since 1994, host communities have received more than $1.86 billion in non-tax gaming revenue.