Ontario casinos are either owned or managed by Great Canadian Gaming (GC.TO) or Mohegan Gaming (MGE, Fallsview and Casino Niagara). OLG doesn’t manage these billions in Casino revenue you refer to. They just skim a monthly payment from the operators who handle everything. They’re basically tax collectors. Tough job. Bill, I thought you would know this.
And it’s not surprising that the sale of casinos by OLG to GC.TO in 2018 was so undervalued that Apollo private equity (APO) has since acquired (GC.TO) paying a nice premium on a company that was fortunate to purchase the business from the Ontario government (OLG) at a bargain basement price.
In the meantime OLG continues selling their scratch tickets.