The Ontario, Canada government of Premier Kathleen Wynne won’t be selling off the province’s .8 billion a year lottery business, despite expectations that it would.
The non-action was revealed when the premier released the “mandate letters” for her cabinet, which creates the roadmap for her government’s policies until the 2018 election.
Finance Minister Charles Souza clarified that instead of asking for proposals from private companies to take over the lottery and modernize it that the government now wants to move, “in favor of a revised modernization approach.”
The Labour government had in 2014 announced that it hoped to cash in on the lottery by selling off the franchise. However, those in the know in the industry believe the province would actually make 25 percent by increasing online and cell phone sales to expand the market.
Several bidders showed interest initially, only to drop out.
Ontario Lottery and Gaming Corporation CEO and President Stephen Rigby released this statement: “After a period of due diligence and consultation with globally experienced proponents, OLG has determined that the selection of a single service provider would not provide sufficient value for the province,” adding “in order to unlock the full potential of the business, our approach to lottery modernization is evolving.”
