Latest OLG payment pushes city’s casino-hosting money over $6 million
The coffers at the City of North Bay have been bolstered by over $6 million since Cascades Casino opened in March 2022.
This after the latest quarterly payment from OLG for hosting the casino in the community.
North Bay received $365,000 for Oct 1. to Dec. 31.
Over the first three quarters of the fiscal year, the city has received $1.2 million.
“Year after year, a share of the revenue from Cascades Casino North Bay through OLG’s Municipality Contribution Agreement has been an important source of funding for North Bay helping to deliver vital services and helping to enhance the quality of life of local residents,” says Vic Fedeli, Nipissing MPP. “Host communities benefit from their share of local casino revenue, while all Ontarians benefit from OLG’s gaming revenues, as 100 per cent of OLG profits are reinvested in communities across the province.”
North Bay’s casino-hosting money is used as a funding source for community capital projects.
Richard Coffinhttps://www.mynorthbaynow.com/ Richard Coffin has been a reporter and news anchor on the radio in North Bay for over 25 years. From premiers to people in the neighbourhood, he enjoys connecting with newsmakers and writing stories that matter to area listeners on a variety of topics including healthcare, education, politics, sports and more.
