Ontario Lottery and Gaming Corp offered $500m loan
State government offers to support lottery organisation during the Covid-19 pandemic.
Canada.- The Ontario government has offered a CA$500million loan to to the state-run Ontario Lottery and Gaming Corp to support operational costs during the Covid-19 pandemic.
The loan will also be used to help the OLG meet contractual obligations and payments over the coming months while its operations remain closed.
The government said the loan would also ensure OLG can quickly resume its casino operations once restrictions are lifted, helping to generate revenues for the state.
A spokeswoman for the state’s finance minister said the government is confident that the OLG will be able to repay the loan shortly after emergency orders are lifted.
No date has been confirmed for the lifting of lockdown measures in Ontario, unlike many states across the border in the US where restrictions are being slowly lifted.
