Ontario Reveals Q1 Revenue for Regulated iGaming

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iGaming Ontario has issued a revenue report for the Canadian province’s first quarter. Net profit was revealed at over CA$162 million since the online iGaming market launched in April 2022. 

A Good Start

Aside from net profit, the report also shows that the total stakes, including bonus funds and other related revenues, exceeds $4.07 billion. 

The report also shows that Ontario has 18 operators and 31 iGaming websites in operation at quarter end. These include local brands like North Star and the booming US and international groups such as DraftKings and Entain. 

Ontario’s active online player base is estimated at around 492,000, each generating an average of about $113 a month. 

Optimism for Ontario’s iGaming Future

iGaming Ontario is a subsidiary of the Alcohol and Gaming Commission of Ontario. It was established during the initial stages of regulating Canadian online gambling

Dave Forestell, the Board Chair of iGaming Ontario, is pleased and optimistic about the results. He believes they are an early sign of tremendous growth and success in the province. 

Forestell has also expressed the commission’s aim to make Ontario a leader in international iGaming. He underlines the competitive market, revenue share rate, and low entry barriers as crucial attraction points for a solid player base.

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