If the government will still be receiving as much money when they sell it as they do now, coupled with selling it for Billions.........then I apologize to Ms. Wynne as she is obviously a brilliant negotiator............
Ontario Liberals Shopping To Sell Profitable OLG
- Thread starter tay
- Start date
If the government will still be receiving as much money when they sell it as they do now, coupled with selling it for Billions.........then I apologize to Ms. Wynne as she is obviously a brilliant negotiator............
Gubmint should not be in business.
I'm sure Wynne did all the work.
Better to sell off the tax generating business and tax the people directly. Why Walter, I had no idea you were such a socialist.
If you could get past your own moronic partisanship it might dawn on you that I wasn't paying the Wynne government a compliment.
This is incredibly stupid. As the article mentions, it is a veritable cash-cow! Why would they want to give that up? Oh, I forgot. It's Wynne. Now it makes perfect sense.
The province has scratched a high-stakes scheme to sell off Ontario’s $3.8-billion-a-year lottery business because the prize wasn’t big enough.
But Ontario Lottery and Gaming Corporation, which made the surprise announcement Friday that privatizing the lotto is off the table, will continue with “modernization” that should see players buying tickets on smartphones.
The news came shortly after Premier Kathleen Wynne released the mandate letters for her ministers Friday outlining their “to do” lists leading up to the spring 2018 election.
Wynne’s written directive to Finance Minister Charles Sousa implored him to oversee the “modernization of Ontario’s gaming marketplace to provide more choice and convenience for customers while maintaining a strong commitment to social responsibility.”
After she met with reporters to discuss the mandate letters, OLG revealed it was cancelling the international request for proposals for the lotto business “in favour of a revised modernization approach.”
As first disclosed by the Star in 2014, the Liberal government hoped to reap a cash windfall by selling off the lottery franchise, which includes Lotto 6/49 and numerous other games.
Industry insiders estimated OLG could make up to 25 per cent more money off the lottery by boosting online and smartphone ticket sales and expanding its customer base to a younger demographic.
Rogers Communications, the Ontario Teachers’ Pension Plan — which owns Camelot Group, one of the world’s biggest operators with lotteries in the U.K., Ireland, and several American states — and GTEH-Scientific Games, a joint U.S.-Italian conglomerate, were the only qualified bidders in the auction.
But interest soon began to wane with Rogers abandoning its first lottery venture and it became apparent there wouldn’t be the bonanza Queen’s Park had been anticipating.
https://www.thestar.com/news/queenspark/2016/09/23/wynne-cancels-lotto-sell-off.html
But Ontario Lottery and Gaming Corporation, which made the surprise announcement Friday that privatizing the lotto is off the table, will continue with “modernization” that should see players buying tickets on smartphones.
The news came shortly after Premier Kathleen Wynne released the mandate letters for her ministers Friday outlining their “to do” lists leading up to the spring 2018 election.
Wynne’s written directive to Finance Minister Charles Sousa implored him to oversee the “modernization of Ontario’s gaming marketplace to provide more choice and convenience for customers while maintaining a strong commitment to social responsibility.”
After she met with reporters to discuss the mandate letters, OLG revealed it was cancelling the international request for proposals for the lotto business “in favour of a revised modernization approach.”
As first disclosed by the Star in 2014, the Liberal government hoped to reap a cash windfall by selling off the lottery franchise, which includes Lotto 6/49 and numerous other games.
Industry insiders estimated OLG could make up to 25 per cent more money off the lottery by boosting online and smartphone ticket sales and expanding its customer base to a younger demographic.
Rogers Communications, the Ontario Teachers’ Pension Plan — which owns Camelot Group, one of the world’s biggest operators with lotteries in the U.K., Ireland, and several American states — and GTEH-Scientific Games, a joint U.S.-Italian conglomerate, were the only qualified bidders in the auction.
But interest soon began to wane with Rogers abandoning its first lottery venture and it became apparent there wouldn’t be the bonanza Queen’s Park had been anticipating.
https://www.thestar.com/news/queenspark/2016/09/23/wynne-cancels-lotto-sell-off.html
Being in the lottery or alcohol business puts it in a conflict of interest. How can we trust it to take gambling and alcohol addictions seriously when the government itself is the main seller?
'cuz it's making money off both of them and you can always trust a crook to feed its own greed first
Sell the cash cows!
Burn the furniture!
They need money NOW!
They'll tax us for their revenue losses LATER!
Burn the furniture!
They need money NOW!
They'll tax us for their revenue losses LATER!
Good point. Where else will we get the money for addiction programmes.
Notice how cigarettes are hidden behind the counter but lottery tickets and alcohol are plastered everywhere for all to see.
Common denominator? Cigarettes are not government owned. Thank God for that judging from how lottery and alcohol are advertised.
They sold a major cash cow for peanuts and, amazingly, no one went to jail for it. The whole deal smacks of MAJOR corruption. Maybe, Tony Clement knows something ,eh?