Ontario Lottery and Gaming (OLG), in its financial report for 2017/18, has revealed revenues from casinos, slots and online gaming were ahead for the period, while sales of lottery products had fallen slightly. Overall, the company said that net profit to the province was $2.49bn, more than five per cent ahead on the previous financial year.
The lion’s share of revenue was driven by OLG’s 25-strong estate of casino and slot venues in the province which experienced almost 38 million visits and realized profits of $1.8bn; an increase of 7.6 per cent on 2016/17. Lotteries, meanwhile, achieved a $1.07bn profit, down by one per cent from a year earlier.
Stephen Rigby, president and CEO, commented on the outlook, saying: “Our investments in the player platform and terminal network will allow us to introduce new games and improve the online and retail experiences for customers. This includes an enhanced and expanded sports betting offering. OLG is seeking a service provider to help us offer a variety of new sports products at retail locations, as well as online and through mobile devices.”
He added: “This coming year will be a pivotal one for OLG – a year in which we largely complete our modernization and continue our digital evolution. I am proud of the organization we are building and the benefits it will provide Ontarians for generations to come.”
In what might be viewed as a vague reference to the need for US-style legal sports betting, the report stated: “Gaming is changing not only in Ontario but around the world. Choice and convenience expand every day. OLG needs to keep up with that change and anticipate where that market is going.”