Premier Doug Ford to audit OLGC’s operations
The governing body that runs the gambling and lottery services in Canada’s most populous province could be in some trouble. Premier Doug Ford recently said the government is closely monitoring the Ontario Lottery and Gaming Corporation, and it wants to take a closer look into the organization’s spending habits. The premier says he is planning to send a team of auditors to examine the OLGC’s expenses and come up with a full-fledged audit on the topic. Ford said he and his government wouldn’t tolerate corporations such as the OLGC taking advantage of money that is basically taxpayers’ cash. Gaming activities all over Ontario are overseen by the Crown corporation. This includes any land-based casino venues, online gaming offered on its platform and instant or draw-based lottery.
Full inspection to begin soon
The investigation officially launched back in June, as Ford and the government said they wanted to look much more closely at the spending habits of the OLGC. Once the process gets underway more fully, the Premier said it will be completely transparent to all residents so everyone will have a chance to see what the expenses are, and see if there are any extraordinary activities taking place.
As a whole, the corporation is consistently seeking to improve what it offers and improve local communities that host gaming venues as well. This is done through revenues generated from gaming at casino venues and online casinos as well.
There’s already a level of transparency that is mandated by law through the Public Sector Expenses Review Act of 2009. That act mandates that any travel and hospitality expenses of any individual within an agency such as the OLGC must be completely transparent and reported.
Part of the reason for scrutiny is that the OLGC’s CEO, Stephen Rugby, recently redesigned his office space, creating a personal brand new board room for himself. In addition, his current salary of CAD $765,406 is almost 70% higher than it was just five years ago. Want to try your hand at some fun games? Check out the online casino below.
OLGC does do good for communities
The OLGC gives back substantially to local communities through the revenue it takes in from gambling. In just the first quarter of the current fiscal year, both Casino Niagara and Niagara Fallsview Casino allocated CAD $7.1 million. In fact, the local communities have been the beneficiaries of a large CAD $148 million in allocations because of the day-to-day operations of the casinos.
In the past fiscal year total, the OLGC allocated almost CAD $2.47 billion. That being said, the corporation raked in a staggering CAD $480 million in revenue. Slot gaming returning to racetracks in the province is also projected to bring approximately CAD $105 million in allocations each year over the next 19 years.
Audit once stop development
Despite the audit taking place, the OLGC won’t stop moving forward with planned developments. One that’s on the forefront is a 5,000-seat entertainment center that will bring attention and hopefully customers to the Niagara Falls area. It will be linked directly to the premium Fallsview Casino, which already exists. As of now, Niagara Falls Entertainment Partners have already dumped CAD $130 million into the construction of the project. To get in on the gambling action, check out the online casino below.