The Canadian province of Ontario announced a six year plan to expand and modernize the current lottery and gaming system, which will include an online gambling site.
Speaking during a press conference, Provincial Finance Minister Dwight Duncan said that a "socially responsible and secure internet gaming site" will be operated by Ontario Lottery and Gaming and open by 2013. The site is being launched in order to fight competition by offshore internet casinos, which are believed to have taken CDN $400 million from Canadian gamblers.
Paul Godfrey, the Chairman of the Ontario Lottery and Gaming said that Ontario residents will be able to buy lottery tickets online as well as at their local Wal-Mart. A new casino located near Toronto will also be opened in order to boost gambling revenues for Canada's most populous province.
The OLG also announced that they are ending a revenue sharing agreement with racetracks that gave the horse racing facilities a share of casino profits.
Godfrey said that the modernizing measures are expected to create 2,300 jobs and bring in $4.6 billion over six years.
Minister Duncan commented on the upgrades, saying "It's about jobs, and it's about updating a Crown corporation that - as we pointed out - has a strategy that was designed in the early 1990s in a very, very different world."