Ontario offers loan of up to $500 M to lottery and gaming corporation
TORONTO -- Ontario is extending a line of credit of up to $500 million to its lottery and gaming agency.
The province says the loan will temporarily support the Ontario Lottery and Gaming Corporation's operational costs during the COVID-19 pandemic.
The loan will also help OLG meet its contractual obligations over the short term as its operations remain closed.
The government says the loan will ensure the OLG's casino operations can quickly resume after shutdown orders lift in order to generate revenue for the province.
A spokeswoman for the province's finance minister says the government is confident OLG will be able to repay the line of credit once emergency orders loosen.
She says OLG will remain in contact with public health officials to determine when it is safe for its facilities to reopen.
- Ontario government extends pandemic emergency orders until Sept. 22
- Great Canadian Gaming to reopen casinos in Ontario
- Ontario government extends emergency orders for COVID-19 until July 10
- GoodLife Fitness to receive loan of over $300 million from federal government
- Ontario government extends emergency orders for COVID-19 pandemic
- Mississauga man murdered at Wasaga Beach, Brampton man one of two charged
- VIDEO: Aftermath of multi-vehicle crash involving Mississauga Transit bus sends four to hospital
- Oakville driver stabbed in face, Mississauga man now charged
- Mississauga firefighters dealing with blaze at Petro Canada refinery
- Doner kebab chain opens Mississauga location