The Ontario government has been ordered to pay the OLG $3 million for violating the Gaming Control Act. This is just one of many violations that have gone on at the OLG, and it’s not even close to being the most egregious.
The casino news today is a casino news blog that covers all of the latest happenings in the gambling industry.
The Ontario Lottery and Gaming Corporation was recently audited by the federal government of Canada, which revealed numerous breaches. According to the government investigation, the Crown agency has abused corporate credit cards, rewarded unethical acts, and created a plan to siphon more money into provincial coffers by privatizing the province’s casinos.
Instead of the independent auditor general’s office, the audit was carried out by a federal government internal division. The study does not reach any conclusions about the Crown corporation’s performance, but it does raise some questions about the value it has provided to the province in recent years.
The audit was conducted in two parts in June and December of 2020, but the report was just released this month. According to the audit, a few of the agency’s leaders received increases ranging from 16 percent to 46 percent between 2015 and 2018. The figure is considerably higher than increases at other government-owned businesses, which ranged from 3 to 10%.
Former CEO Stephen Rigby earned CA$765,000 in 2018 and CA$797,000 before resigning from the governmental agency. According to the audit, overall executive pay in 2019 was CA$11 million, compared to CA$7.2 million, CA$6.1 million, and CA$5.2 million at Metrolinx, LCBO, and Workplace Safety and Insurance Board, respectively.
Furthermore, the study found that over CA$260,000 was spent on credit cards across the board, with 29 percent of that spent on furnishings and travel, which was in violation of the OLG’s credit card policy. The audit, however, came to no findings regarding the previous CEO. The credit card transactions were genuine work-related expenditures, according to OLG spokesman Tony Bitonti.
The audit, according to Paul Burns, president and CEO of the Canadian Gaming Association, indicates that the modernization process is too onerous and restrictive. According to him, the procedure made it difficult for operators to compete on contracts and hurt those who didn’t have a casino license. As a result, the province will get less income.
OLG’s Recent Scandal
The OLG has recently been embroiled in yet another scandal. The Crown company and the provincial government have broken its revenue-sharing agreements with 132 Ontario First Nations, according to the Ontario Court of Appeal. According to the agreement, the Crown must pay the Nations 1.7 percent of non-gaming income; however, the Crown neglected to notify the tribes about recent developments to create a new iGaming industry in the province.
The Shawanaga First Nation has asked Ontario’s government to stop the launch of the new iGaming market for private operators, citing an inability to notify the First Nations. Shawanaga’s Inherent, Indigenous, and Treaty Rights, Title, and Interests have been notified and consulted about the adjustments. The government and the OLG, according to the country, have denied people fundamental rights to engage in the new gaming regimes.
Christine Dobby, “OLG audit reveals corporate credit card abuse, 46% raises, and no thorough business case for modernization plans,” Toronto Star, October 17, 2021.
The sports gambling news is a federal audit that found several violations by the OLG.
- las vegas casino news update
- latest gambling news
- indian casino news
- casino news daily
- casino news, philippines