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Ontario Lottery & Gaming Corporation Appointments & Vacancies VideoOLG sells the dream but collecting can be a nightmare
NASDAQ: WKHS booked its largest order of electric last-mile delivery vans to date. But the order is contingent on Workhorse being able to fulfill it.
Pride Group Enterprises, which operates 17 retail and rental truck locations in the U. Slowed by a COVID outbreak at its factory in Union City, Indiana, Cincinnati-based Workhorse expects to build 1, vans this year, gradually reaching production of vans a month.
It built just seven vans in the third quarter, two of which were delivered to Ryder System Inc. NYSE: R for use in its COOP short-term rental program.
Workhorse plans to begin fulfilling a pending order from United Parcel Service NYSE: UPS for C-Series vans this year.
It had a total backlog of about 1, vans at the end of the third quarter of , not counting a truck order from commercial vehicle distributor Pritchard Cos.
The Pride Group order is subject to "various production and delivery conditions," according to a Workhorse press release Monday.
A company spokesman did not immediately return a call seeking clarification of the conditions. Workhorse shares traded at EST Monday. A slight lead?
Workhorse may have a slight lead in building last-mile delivery vans over market startups Arrival and Rivian, which expects to fulfill an order for , electric delivery vans from Amazon NASDAQ: AMZN by FedEx NYSE: FDX is purchasing Chanje V electric delivery vehicles and leasing more from Ryder System Inc.
Pride Group is moving to make all its offerings electric. It reserved Tesla Semis in November. It might purchase as many as of the oft-delayed electric heavy-duty trucks.
Benzinga does not provide investment advice. All rights reserved. When looking for the best artificial intelligence stocks to buy, identify companies using AI technology to improve products or gain a strategic edge, such as Microsoft, Netflix and Nvidia.
Speculation has mounted over the reason behind his disappearance, which some publications have connected to a late October speech in which he appeared to call for a reform of China's banking system.
In a major reversal, the New York Stock Exchange said it no longer intends to delist three Chinese telecom companies following an executive order by President Donald Trump.
Tesla's Chinese rivals delivered robust December sales in a white-hot market for electric cars. Nio stock jumped near a buy point. Chip makers are set up well for the long term because so many industry trends are in their favor, according to B.
Riley analyst Craig Ellis. NIO NIO is starting with record electric vehicle deliveries and the launch of a used car service and trading platform.
Bloomberg -- U. To combat the economic fallout from the Covid pandemic, the central bank cut rates to almost zero. The equity gauge finished the year at an all-time high of 3, Pessimism over tech giants such as Apple Inc.
For the coming year, Wien and Zidle expect the Fed and the Treasury will continue their accommodative policies to bolster the economy. Faster inflation, while still modest, is set to fuel gains in gold and boost the allure of cryptocurrencies, they say.
The duo also project a reversal in the U. Below are his other calls for The Fed extends the duration of bond purchases in order to prevent higher rates at the long end of the curveFormer President Donald Trump starts his own television network and plans his campaignChinese shares to lead emerging markets as President Joe Biden begins to restore trade relationships with ChinaCyclical shares lead defensives, small-caps beat large-caps.
Both energy bonds and stocks rally Updates with more predictions starting in seventh paragraph For more articles like this, please visit us at bloomberg.
The company also overpaid for Time Warner in , but that bet could eventually pay off, with the new HBOMax streaming service growing at a healthy pace.
Northern Genesis Acquisition Corp NYSE: NGA shares are rallying on news the company has a deal with Amazon. What Happened: Lion Electric is set to go public with SPAC Northern Genesis Acquisition Corp.
The company issued an SEC filing last week that showed the company has a deal in place with Amazon. The filing calls for the purchase of up to 2, Lion 6 and Lion 8 electric trucks from Lion Electric.
Amazon Logistics is listed as the specified customer after being unnamed in previous Northern Genesis filings. Under the terms of the deal, Lion Electric is required to reserve a portion of its manufacturing capacity for up to trucks per year from to Lion Electric will also provide maintenance and training to Amazon.
Related Link: 10 SPAC Picks For Investors To Consider In Why It's Important: Lion Electric had previously signed a deal with Amazon for 10 Lion 6 trucks and has delivered two.
As part of the deal, Amazon is not required to purchase a "specified minimum quantity of vehicles from Lion" other than the existing purchase order.
Lion Electric said it had purchase orders for up to 6, vehicles at the time of its SPAC merger announcement. Disclosure: The author has a long position in shares of NGA.
The news that Haven, the joint health-care venture between Amazon, will disband next month came as no surprise to many health-care experts.
Bitcoin is charting a typical bull market correction amid increased expectations for price volatility. Dow Futures 30, Nasdaq Futures 12, Russell Futures 1, Crude Oil Gold 1, Silver Vix BTC-USD 31, CMC Crypto FTSE 6, Nikkei 27, Read full article.
December 26, , PM. TORONTO , Dec. Latest Stories. Investor's Business Daily. Whereas OLG is responsible for, and operates a variety of gaming services, the Alcohol and Gaming Commission of Ontario AGCO regulates casino gaming.
OLG reports through its board of directors to the Minister of Finance. From to it was under the Ministry of Public Infrastructure Renewal.
The OLG operates a self-exclusion program for people with gambling addictions,  although this program has been controversial.
The ConnexOntario — Problem Gambling Support hotline is The Ontario Lottery Corporation was created in February under the Ontario Lottery Corporation Act, repealed in and replaced with the current Ontario Lottery and Gaming Corporation Act.
Wintario was the first lottery game offered by the fledgling OLC on April 3, and the first drawing took place on May 15, Global gaming options are more accessible — particularly online.
At the same time, U. All of these shifts have put the industry and its contribution to the province at risk in the long term.
Modernization will enable OLG to provide additional revenues to the Province to help fund the operation of hospitals and other provincial priorities.
Modernization will help to create jobs across Ontario and trigger private sector investment. The capital costs of expanding, improving or simply maintaining gaming facilities will no longer be carried by taxpayers.
Ontario residents and visitors will have access to more innovative and fun games. In addition, the existing lottery distribution network will be expanded to include multi-lane sales at large retailers, accommodating a broader customer base.
As part of modernization efforts OLG has introduced iGaming. OLG has launched PlayOLG. These are new secure online gambling programs that features fun and exciting games, along with a comprehensive Responsible Gambling program.
OLG has established this website in an attempt to protect consumers from offshore internet gaming sites. Offshore gaming sites do not verify the age of the participant, and have no player protection or secure transactions.
OLG takes a strong stand against underage gambling and the PlayOLG. OLG has five business divisions: . The corporation also offers instant scratch games under the brand Instant Games, and sports games under the brands Pro-Line, Point-Spread and Pro-Picks.
This service is now discontinued since September 7, OLG owns and manages casinos. OLG operates slot machine facilities at racetracks across Ontario.
OLG operates a number of bingo centres throughout Ontario, including e-bingo. Violators who sell OLG lottery tickets to anyone under the age of 18 can face significant fines under the legislation passed in In addition OLG reserves the right to suspend violators found to have sold OLG lottery tickets to anyone under the age of People can collect bigger prizes by visiting an OLG Casino or Slot facility.
This can be done by mailing the ticket to the OLG Prize Centre or by visiting the OLG Prize Centre in Toronto.
When claiming the prize at the OLG Prize Centre, the prizewinner must have valid government identification as well as providing a signature. The ticket will be double checked in case of fraud.
OLG will inform the winner directly of how to claim their prize. Once approved, there will be a picture taken of you with your cheque.
On October 25, , the CBC program The Fifth Estate aired an investigative report on lottery retailers winning major prizes, focusing on the ordeal of year-old Bob Edmonds.
For the next four years, OLG ignored Edmonds' inquiries after the clerk and her husband were falsely named the rightful winners.
Later, when the couple were arrested for fraud, OLG refused to return his winnings, maintaining that it wasn't their responsibility that they had been tricked; in , a judge disagreed, and forced OLG to give Edmonds his money.
They did so, on the condition that Edmonds sign a confidentiality agreement , so that he would never tell the press about certain details of the ordeal.
Also, The Fifth Estate uncovered internal OLG memos where several employees admitted they believed Edmonds' story. Immediately following the broadcast, Edmonds received a call from OLG's president, Duncan Brown, who apologized and claimed he was ashamed about how his staff treated Edmonds.
OLG later released Edmonds from the confidentiality agreement. He died on April 2, He was arrested after the original ticket owners filed a complaint with police.
OLG has since awarded the rightful winners the prize plus interest. The report by the fifth estate added that over lottery retailers in Ontario have won major prizes from to A statistician featured in the report, Jeff Rosenthal , calculated that the chance that this would occur purely out of luck is one in a "trillion trillion trillion trillion" or quindecillion.
OLG has since mandated new security measures to protect lottery customers, notably with customer-facing displays when tickets are checked, as well as special music played with a winning ticket.
As of January 28, , lottery retailers are required to ensure that tickets are signed. There is a signature box shown on the front of all on-line lottery tickets.
In March , OLG announced that it had recalled over 1,, scratch and win tickets. The "Super Bingo" series of tickets were removed from retail stores after it was announced that a customer made the claim that he could visually tell which tickets were winners.
It was the largest recall ever of a lottery ticket in Canada, and were prompted in part from greater media scrutiny regarding ongoing fraud investigations.
In January , OLG announced it has recalled over 1, scratch and win tickets. The "Fruit Scratch" series of lottery tickets were removed from retail stores after it was discovered that over dozens of lottery tickets were reportedly misprinted.
Up to of the misprinted tickets were reportedly purchased at eight stores across Southern Ontario one-week before the recall was issued.