Did the old man set up the Squid Game?

Did the old man set up the Squid Game? Clearly foreshadowing the reveal, it only comes near the end of the show when Il-nam is revealed to be behind all the events of the show. He, with the help of other wealthy elite, set up the Squid Games decades ago.

Clearly foreshadowing the reveal, it only comes near the end of the show when Il-nam is revealed to be behind all the events of the show. He, with the help of other wealthy elite, set up the Squid Games decades ago.