The Ontario government originally hoped it could squeeze billions more in profit from lottery and gaming.
However the provincial auditor general says the plans were overly optimistic in a special report released on Monday on the so-called modernization of the OLG.
Bonnie Lysyk slams the plan, saying the Liberals virtually ignored the predictable impact on the horse racing sector when it abruptly cancelled the racetrack slots program.
The program generated $347 million to provincial racetracks before it was cut in the spring of 2012.
Lakeshore Mayor Tom Bain says it was a blow to the horse racing industry putting people out of work.
Lysyk. says the original projection the new plan would add 2,300 new gaming jobs never became a reality and revenue projections have so far come up short.
Provincial finance minister, Charles Sousa, says he’s already built the lower profits in his deficit figures.
The provincial budget is scheduled to be handed down on Thursday.
