Casino News

OLG’s Spending Habits Under Close Inspection, Premier Ford Says

Ontario Lottery and Gaming Corporation is currently under close monitoring, as Premier Doug Ford and his government want to look into its spending habits. This week saw the announcement that the Premier is going to send a team of auditors ready to extensively examine its expenses and come up with an audit on the subject. Premier Ford said he would not put up with corporations taking advantage of taxpayers’ cash.

The Crown corporation oversees gaming activities across Ontario ranging across brick-and-mortar casino venues, online gaming on its platform, as well as the wide variety of draw-based and instant lottery offerings. This gives it a wide scope of operation, as well as an influence on the local gaming field in its entirety. Premier Doug Ford wants to address some concerns.

Auditors Launch Inspection Soon

June 2019 saw the official launch of investigation around the spending habits of Ontario Lottery and Gaming Corporation, seeking more details about it. Premier Ford said that once the process launches, it is going to be completely transparent so that all taxpayers and everyone interested would have the chance to learn more about expenses, as well as witness first-hand any extravagant spending taking place.

The Crown corporation seeks to improve its offerings and boost host communities on a regular basis thanks to gaming revenue allocations powered by casino venues. It also maintains transparency when it comes to the travel and hospitality expenses of individuals within its structure, as the Public Sector Expenses Review Act of 2009 mandates.

It should be taken into account that the Ontario Lottery and Gaming Corporation’s Chief Executive Officer Stephen Rugby recently worked on the redesigning of his office space including the creation of an entirely new boardroom for him. The recent changes come in a time when his salary has increased to CA$765,406. This amount is nearly 70 percent more than what he bagged about five years ago.

June 2019 Saw Launch of Supervision

The Crown corporation gives back to the communities and strives to make it possible for them to develop and fund their local projects. Casino Niagara and Niagara Fallsview Casino managed to amass allocations reaching CA$7.1 million over the first quarter of this fiscal year. Up until this point, the local community has bagged over CA$148 million thanks to casino operation on a day-to-day basis.

Over the past fiscal year of gaming operation, Ontario Lottery and Gaming Corporation succeeded in allocating upwards of CA$2.47 billion, but it should be taken into account that total revenue reached CA$480 million. The return of slot gaming to Ontario’s racetracks is projected to guarantee CA$105 million in annual allocations over the span of the following 19 years. Now the Corporation would have to be thoroughly reviewed by the audit team.

Niagara Falls is bracing for the launch of a long-anticipated entertainment facility that has the potential to reshape the city’s image and draw an even larger crowd to it. It is going to be directly linked to existing premium Fallsview Casino. The 5,000-seat entertainment center is projected to bring an interest surge to the area but its construction stalls. The overall amount of cash poured into the construction of this venue up until this point reaches CA$130 million provided by Niagara Falls Entertainment Partners.