In 2018-2019, the casino sector continued to transition to a private sector operated model under OLG’s modernization strategy. The sector also fully transitioned to a standards-based regulatory approach, under which the AGCO is establishing clear industry objectives and standards. Regulated entities then determine the most efficient and effective way to meet them. The AGCO assesses compliance by obtaining assurance these objectives and standards are being achieved. The approach benefits the AGCO and the operators by allowing for:
- more operational flexibility while strengthening regulatory outcomes in a way that does not unnecessarily burden those we regulate
- the AGCO to proactively manage the evolving nature of its regulated industries and provide flexibility to be able to assume new regulatory responsibilities.
In carrying out an audit at a casino facility, the AGCO auditor assesses the site’s compliance with the requirements under the Gaming Control Act (GCA), Registrar’s Standards for Gaming, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2001 and related regulations. The AGCO proactively helps regulated entities comply with regulatory requirements using a mix of education, collaboration and deterrence. During 2018-2019, the AGCO carried out four risk-based audits.