Report predicts Ontario’s proposed iGaming regulations could cost Milton $11.3 million
A recent report by HLT Advisory (HLT) analyzed the potential impact of Ontario’s proposed igaming regulations on land-based casinos and predicted that it could result in the Town of Milton losing millions in municipal payments and over a hundred paid union jobs.
Last year, the Government of Ontario announced the establishment of iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO), that aimed to advance the province’s plans to create an internet gaming (igaming) market. They also announced that iGaming Ontario would begin entering into commercial agreements with igaming operators.
The report by HLT analyzes the proposed iGaming regulations and their potential impacts on union jobs across the Province of Ontario. It also projects that these current regulations could cost the province millions of dollars in contributions to municipalities and billions of dollars to provincial revenues.
In total, HLT’s report predicts that current regulations could cost the province a total of 2,500 paying union jobs, 143 of which would be lost for the Town of Milton.
HLT’s report broke down the losses of individual municipalities and predicted that Milton could lose a whopping $11.3 million in municipal payments over the course of five years as a result.
Out of all the municipalities in Ontario, the Town of Milton is projected to experience one of the greatest losses and comes in at number four on the list for the greatest projected losses in the province.
HLT’s report predicted that Toronto would come in first place with a projected loss of $31.0 million, Niagara in second with a projected loss of $23.6 million and Pickering in third for a projected loss of $16.5 million.insauga's Editorial Standards and Policies advertising