The Toronto Star announced on the 1st of March 2021 that the company will open an online casino business this year to support journalism. Levitt, the co-owner of the newspaper, said: “We will enter the Ontario gaming market and create our own gaming brand in Ontario. As an extension of Torstar’s business, doing so will help support the development of community-based quality news. And grow stronger.”
“Toronto Star” was founded by a family business in the form of trust in 1892, and was recently acquired by Nordstar Investment Company, which promised that the company will continue to produce “world-class news that fits the traditional characteristics of the Star.” The Toronto Star has been adhering to the Atkinson principle (Atkinson is one of the main members of the newspaper’s founding family), that is, focusing on labor protection, civil liberties and other social justice issues to promote social justice and progress.
The Star News quoted government data showing that the annual output value of Ontario’s online casino industry is about 500 million Canadian dollars (about 1.6 billion ringgits), but most of the output value comes from the gray market lacking government supervision and legal blanks, and it flows overseas without giving the Ontario economy any benefits.
According to current laws and regulations, the Ontario government implements license management and monopoly operations on the online casino industry. Last year, Ontario eased the control and allowed other companies to start online gambling business starting this year. Warren, a senior consultant in the gaming industry employed by The Star, said: “The government is reviewing our plan. It is still unclear how much revenue the new gaming industry can bring to the company. It is certainly true that the implementation of diversified business development can create diversified sources of income to better support our main news business.”