OLG balances strong growth against corporate priorities in annual report

in Lottery

Stephen Rigby, President and CEO, stated in the report: “The fiscal year has been defined by strong financial performance and determined progress against corporate priorities. The organization exceeded its financial targets and completed important procurement streams for its land-based gaming, lottery and digital gaming operations.

The Ontario Lottery and Gaming Corporation (OLG) has published its annual report for 2018-19. It cites an effective balance between continued strong financial performance and progress toward developing gaming entertainment in a way that benefits the province and its communities. 

During the period, the corporation saw its core business grow, with $8.3bn in proceeds from lottery and gaming, ahead by $480m year-on-year, including record proceeds in lottery and land-based gaming.

According to the report, OLG and its land based gaming service providers contributed more than $5bn in economic activity in the Province of Ontario, with a net profit of $2.47bn. Since the start of OLG’s modernization, this amount has grown by more than 30%, from $1.88bn in 2011–12 to $2.47bn in 2018–19. 

They also made additional contributions, including $992.8m for the employment of 17,600 people at OLG, including the resort casinos they own, and at gaming facilities operated by land-based gaming service providers across Ontario. 

$304.4m in commission was paid to lottery retailers across the province, with a further $160.8m in payments to municipalities and Ontario First Nations that host gaming facilities and charitable gaming centers. Ontario First Nations received $146.4m through the gaming revenue sharing and financial agreement, while $92m in goods and services were purchased from Ontario businesses to support land-based gaming facilities, including Resort Casinos across the province.

In terms of corporate social responsibility, OLG invested $64.4m in programs that support responsible gambling and charitable organizations. This includes $17.3m directed by OLG to its Responsible Gambling program; $43.9m in charitable gaming proceeds distributed to participating local charities; and $3.2m in corporate and lottery festival and event engagements.

Stephen Rigby, President and CEO, stated in the report: “The fiscal year has been defined by strong financial performance and determined progress against corporate priorities. The organization exceeded its financial targets and completed important procurement streams for its land-based gaming, lottery and digital gaming operations. 

“Our achievements this past fiscal year were driven by focusing on our customers, enhancing their experience and being responsive to their changing expectations. To ensure we can advance this customer-centric strategy, we are leveraging data and analytics to enhance our understanding of the market. 

“As we become a more performance-driven organization, we are setting and measuring our progress against key performance indicators that align with our strategic priorities. An imperative for the organization and a key to our continued success is OLG’s commitment to responsible gambling and our industry-leading PlaySmart program. 

“In 2018, OLG was selected from among more than 200 members from 80 countries to receive the World Lottery Association’s (WLA) Best Overall Responsible Gambling Award. In making the announcement, the WLA recognized PlaySmart’s strategic approach to responsible gambling, its commitment to continuous improvement and its success in implementing robust and innovative training programs for retailers and employees.” 

https://sbcamericas.com/2019/10/07/olg-balances-strong-growth-against-corporate-priorities-in-annual-report/