Casino revenue for North Bay nears two million dollars
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The latest casino revenue payment to the City of North Bay pushes the grand total close to two million dollars Cascades Casino opened in March of 2022 so that total has been reached in 17 months.
The Ontario Lottery and Gaming Corporation (OLG) announced three month payment (April 1 – June 30) totaling almost $318,00 to the City of North Bay.
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.
“Host communities support important community programs and services and strengthen their local infrastructure with these gaming revenues,” said Peter Bethlenfalvy, Minister of Finance. “These financial supports help fund the vital programs and services that residents can depend on for their future.”
OLG is proud to share proceeds of casino gaming with local communities, contributing to economic recovery, infrastructure development and job creation. Payments to host communities are part of OLG’s commitment to Ontario – 100 per cent of OLG’s profits are reinvested in the province.
Over the past eight years, casino service providers have invested more than $2 billion in private sector capital across the province. Since 2017, these investments have led to the development and opening of seven new casinos, one planned development and additional gaming expansions and non-gaming amenities.
