Ontario Lottery and Gaming’s income from casinos and internet gaming reached a record $2.5 billion for FY 2017-18, which exceeded expectations, which is good news for the provincial government, which collects revenues from OLG’s casinos.
Only lottery revenues were down slightly, according to the OLG annual report. Lottery revenues were $1.07 billion, a decrease of 1 percent. Higher revenues from scratcher were offset by declines from sales in Lotto Max.
OLG operates 25 casinos and slots parlors around the province. Their profits were $1.8 billion, an increase of 7.6 percent from the previous year.
Those casinos played host to 38 million visitors last year. Each visitor spent an average of $101.
OLG is in the process of privatizing the operation of its casinos. It projects that it will make even more profits as the new operators expand the number of casinos and expand existing one.
According to the annual report: “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.”
The annual report blamed the decline in lottery sales on aging technology and a “diminishing core player base.” It also points to a millennial population that is less interested in buying lottery tickets than other cohorts.
