Ontario Also Looking at Legalized Online Gambling
10 August 2010
On Saturday, The Star Canada’s largest daily newspaper, reported that Premier Dalton McGuinty’s administration is facing a $19.7 billion budget deficit. Due to this, McGuinty is looking into the possibility of Ontario expanding into the online gambling industry.
The government needs money, and sources say legalizing online gambling could bring in up to $500 million a year. The Ontario government is reporting that this would be in addition to the Ontario Lottery and Gaming Corporation’s $1.9 billion profit reported in 2009.
Ontario Lottery and Gaming Corporation’s chairman Paul Godfrey said in a Star article:
“It’s something that I would explore . . . (because) money is going out of this province to other provinces as well as offshore sites. The fact is that it’s there at the present time all around us.”
Of course there is political opposition to this solution lead by Progressive Conservative Leader Tim Hudak. He told reporters Monday,
“Listen, this guy has had two consecutive major scandals at the OLGC, they’ve gone through five CEOs, they can’t run the existing casinos let Internet gambling. They have a voracious appetite for more and more tax dollars. They can’t control the OLGC as it is. This will be a disaster if Dalton McGuinty is running an online casino.”
Like most other countries currently looking into some sort of legalized and regulated online gambling, they want to recoup the money that is currently being gambled on sites located offshore and bring that money back where it can help put money in the local coffers.
Right now, like some other Canadian provinces, Ontario is keeping a close eye on British Columbia who recently legalized online gambling. B.C. estimates that close to $100 million was leaving their area and going to outside gambling websites.
Many in Ontario are already leery of existing brick and mortar casinos after a couple recent scandals involving the Ontario Lottery and Gaming Corporation so it may be a tough sell to convince them that they are capable of running an online gambling site. However the promise of additional monies to aid the local economy may be all the push needed.
14 May 2010Canadian Man Pleads Guilty in U.S. Online Gambling Charge
Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies. Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months.Read full article
02 June 2010France to Award 30 Licenses for Online Gambling
Today the government of France approved a new online gambling bill. The bill passed the French parliament by a narrow 299-233 vote. The French will grant only 30 licenses to operate online casinos and poker rooms within its borders. Though it is now official and France says that licenses will be granted in time for the 2010 World Cup, not everyone is excited about the French market.Read full article
09 June 2010France Issues 11 Licenses For Online Gambling
France acknowledged that 11 companies have been granted license and have been registered to conduct online sports and horse race betting as well as online poker within France. According to Arjel president Jean-Francois Vilotte, the regulator of gaming in France, “There were 35 requests for licenses and we have retained 17 at this stage. None have been formally rejected.Read full article