According to an article in The Intelligencer, the Ontario Lottery Gaming Commission is waiting on Baymount to secure necessary equity to begin construction

on the new racetrack in Belleville, Ontario before it provides them with a $14.2-million loan to finance the construction of the slots parlour on the racetrack property.

Kelly McDougald, chief executive officer for the Ontario Lottery Gaming Commission, and other OLG officials met with mayors of both Quinte West and Belleville in Quinte on Friday following a request from Quinte West council, which offered an opportunity to clarify matters and address any confusion over the OLG's role.

"There's no timing tied to the loan. The gaming activity is the requirement for Baymount to have secured their portion of the equity required in advance of us proceeding with the loan," said McDougald.

To read The Intelligencer article in its entirety, click here.

(With files from The Intelligencer)