Over $1.26 million has flowed into the city coffers since Cascades Casino North Bay opened last March.
That from Ontario Lottery and Gaming Corporation (OLG), which recently delivered a third quarter payment (Oct. 1 to Dec. 31) of $343,695 to the City of North Bay for being a host community.
OLG says 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.
“Payments through OLG’s Municipality Contribution Agreement provide host gaming communities with the support they need to fund programs and critical infrastructure to improve the lives of residents and families,” says Peter Bethlenfalvy, Minister of Finance. “With these revenues, municipalities are able to build better communities with more opportunities to live and work.”
North Bay’s previous council decided to leave it up to this new council to decide where the money will go.
That decision has yet to be made.