OLG DELIVERS $2 BILLION TO THE PROVINCE
June 24, 2011
In fiscal 2011 (F11), OLG delivered a strong financial performance providing a cash dividend* to the Province of $2.068 billion, up $193 million or more than 10 per cent from fiscal 2010 (F10), and the highest contribution since fiscal 2003 (F03). In F11, OLG achieved record consolidated gross gaming revenue** of $6.724 billion, an increase of $400 million over F10.
“The Board of Directors and executive team are very pleased with this year’s results, especially in these challenging economic times,” said Mr. Godfrey. “This year, OLG delivered more than $2 billion to support Ontario’s hospitals, schools, charities, amateur sports and culture. This level of contribution is unique among provincial agencies, boards and commissions.”
Mr. Phillips said, “These results are due to the extraordinary efforts of OLG’s 18,000 direct and indirect employees over the past year. Management and employees set clear targets for providing measurable improvements to our business. They not only met these challenging metrics, but exceeded them. Our future success will continue to require the best efforts of all of our employees”.
“In addition to meeting and surpassing financial targets, OLG has been cutting costs and building efficiencies”, he continued. “In response to the Minister of Finance’s request in the 2011 Budget for agencies to find savings of $200 million, OLG has agreed to find $100 million for the Province by 2014.” Mr. Phillips said, “OLG is becoming a more efficient organization and will continue to transform its structures and processes in order to meet its renewed mandate, including entering the competitive global market of Internet Gaming. These are significant challenges that will take time and resources over the coming months but they are essential to placing OLG on a successful path for the future”.
Mr. Godfrey continued, “Ontarians can be proud of these results. OLG’s employees are working hard to make Ontario a better place to live. Our focus is on providing the highest quality gaming and entertainment experience for our customers, while maximizing returns to the Government of Ontario. And, our goal is to transform OLG into the best-managed, most efficient lottery and gaming corporation in the world.”
* Dividend: Cash dividend to province. This dividend is made twice per week to the Province's Consolidated Revenue Fund and represents surplus discretionary cash not required by OLG in the short term to fund required cash outflows. The Cash Dividend to Province includes the Win Contribution. The Win Contribution provides the Province of Ontario with 20 per cent of gross gaming revenue from the Resort Casinos and the Great Blue Heron Charity Casino.
** Consolidated gross gaming revenue: Lottery and Bingo cash sales plus revenue from slot and table game operations at gaming sites, before deduction of certain promotional allowances.
OLG is a provincial agency responsible for province-wide lottery games and gaming facilities. Since 1975, OLG lotteries, Casinos, Slots, and Resort Casinos have generated more than $34 billion for the benefit of the Province of Ontario. Gaming proceeds support Ontario's hospitals, amateur sport, recreational and cultural activities, communities, provincial priority programs such as health care and education, and local and provincial charities and non-profit organizations through the Ontario Trillium Foundation.
Know your limit, play within it!
THE ONTARIO PROBLEM GAMBLING HELPLINE 1-888-230-3505
Disponible en français
Year End Non Financial Results
In addition to solid business performance, OLG has been a leader in areas including transparency, consumer privacy and corporate responsibility. In F11, OLG has:
- Earned international recognition: OLG attained the highest level of recognition for its Responsible Gaming program from the World Lottery Association (WLA). OLG becomes just the fifth gaming operator in North America and one of only 22 in the world to achieve Level 4 accreditation from the WLA. The WLA is an international organization representing 142 gaming operators from 90 countries.
- Enhanced transparency: OLG was one of first agencies to post expenses online and established a public disclosures section on its website to provide easy access and transparency on items such as expenses, ticket claims and salaries. OLG held a consultation process for its Internet gaming plans with a focus on promoting responsible gambling, preventing access by minors, protecting personal information, ensuring the integrity of games, and supporting the detection of potential criminal activity.
- Protected consumer privacy: OLG was praised by Ontario’s Information and Privacy Commissioner in a 2010 Annual Report released on May 17, 2011. OLG was referenced as an organization “that stood out in their commitment to proactive privacy in 2010.”
- Increased Player Protection: A new, one of a kind, data analytic tool, known as Data Analysis and Retrieval Technology or DART was added to OLG’s player protection arsenal in F11. DART empowers OLG with the ability to search billions of lottery transactions in mere minutes to more quickly identify play patterns that can help confirm legitimate winners and identify potentially fraudulent behaviour. DART builds on dozens of other OLG anti-fraud and player protection initiatives, delivering on the corporation’s pledge to better protect those who play its games and lotteries.
- Committed to stakeholders: As one of the largest public-facing operations of the Ontario Government, OLG has committed to strengthening the relationships that it has with stakeholders including customers, employees, suppliers, media, public and government.
- Strengthened partnerships: In F’11, OLG worked closely with the Ontario Provincial Police (OPP) to identify a group of seven men who are the rightful winners of a $12.5 million lottery jackpot dating back to a 2003 draw. The search was supported by OLG’s investigative team, with information provided by OLG’s DART system. DART also assisted the OPP in its investigation surrounding the original ticket claim for the $12.5 million jackpot, which resulted in criminal charges against three people.
OLG also partnered with the Office of the Information and Privacy Commissioner of Ontario and the University of Toronto to develop a new privacy benchmark for the use of biometric security in OLG’s new facial recognition technology being installed at gaming sites.
For more information:
OLG Media Relations: 1.888.946.6716