Ontario reveals cost of moving alcohol to convenience stores and long-term plan for LCBO [Video]

The Ford government is expecting the LCBO to lose hundreds of millions of dollars in the short term after a turbulent strike over the summer and its decision to increase the number of private alcohol retailers but hopes an overhaul to its wholesale and delivery network to lead to higher revenues eventually.

Earlier in the year, the province announced it was earmarking $225 million for The Beer Store to break its exclusive retail contract early and move alcohol into convenience, grocery and big box stores in 2024. The move meant as many as 8,500 new alcohol retailers across Ontario.

The province for months remained tight-lipped on how much the LCBO could stand to lose from the deal, a number that opposition parties speculated could be hundreds of millions.

New figures revealed in the fall economic statement on Wednesday show the short-term costs will be painful for the LCBO. A shakeup of how booze is sold to …