Peter M Deeb, Chairman of the Ontario Lottery and Gaming Corporation (OLG), announced that President and CEO Stephen Rigby will leave the company after an agreement has been reached with the Board.
Having spent five years at the helm of OLG, Rigby is expected to remain in the position of CEO until the summer, working with new leadership to ensure a smooth transition after an appropriate replacement is obtained.
A Deeb Statement read: “The Board of Directors thanks Stephen for his outstanding service as the President and Chief Executive Officer of OLG. During that time, OLG has delivered unprecedented value to the Province. OLG’s returns have grown from $1.7bn in 2015 to nearly $2.5bn and are on track to attain over $3bn by 2022-23. This growth reflects a healthy and thriving land-based gaming, lottery and digital business.”
Through his time as Group CEO, Rigby also oversaw the appointment of four operators to handle day-to-day casino operations, spend money, and invest in communities across Ontario. It has proven to be one of Canada’s largest public-private partnership ventures in terrestrial gaming.
In addition, Rigby was also in charge of the opening of four new facilities in Belleville, Peterborough, Chatham and Sarnia, with the construction of new casinos in Pickering and North Bay, as well as the Niagara Falls Entertainment Centre, all already well underway.
In addition, OLG also saw increasing returns on its lottery sector throughout the tenure of Rigby, with revenue under his leadership reaching an incredible $4bn.
According to Deeb: “As Chair of the Board of Directors, you have my assurance that OLG’s commitment to its business and stakeholder partnerships, and dedication to world-class gaming entertainment is unwavering, today and in the future.
“I have launched a process to identify a successor to the outgoing President and CEO. We thank Stephen Rigby for his outstanding tenure which positions OLG for continued success going forward.”