Letter to the editor: Ontario’s iGaming market will be a boon to the economy

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The Canadian Gaming Association (CGA) supports the Government of Ontario’s decision to launch a licensed and regulated iGaming marketplace on April 4, to ensure the people of Ontario have access to safe and legal gaming options, including sports betting , online.

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The CGA also supports the government’s underlying goals for the development of Ontario’s iGaming model: to establish a competitive iGaming market that fosters an exciting gaming experience while protecting consumers, keeping Ontarians safe, and generating revenue for good. public.

This initiative provides a unique opportunity for the province to address the longstanding inequity that the “grey” online gaming market has created for those involved in Ontario’s licensed and regulated gaming industry.

Additionally, as we move through the COVID closures and grapple with the economic recovery, it is imperative that Ontario land-based casino operators have the right framework, tools and playing field to benefit from online gaming that will allow them to diversify your entertainment. options in order to offer a perfect gaming experience to its customers.

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As a significant contributor to Ontario’s economy and workforce for many years, Ontario’s land-based casino operators support more than 27,000 jobs, have invested more than $1.2 billion in Ontario since 2016, and have nearly $4 billion in investments of planned capital between now and 2025.

The CGA believes that the introduction of a regulated iGaming market allows the provincial government to reset its priorities for the gaming industry (online, physical and charity gaming) and encourage competition, while incentivizing capital investment, the creation of employment and economic growth.

Ontario is also home to a strong digital technology sector, a highly-skilled and multilingual workforce, strong capital markets and a competitive tax climate, all key measures that make the province an attractive location for those working in online gaming. Ontario was home to the first wave of online gaming pioneers, including companies like Cryptologic, which launched InterCasino in 1996, and PokerStars (now part of Flutter Entertainment).

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Today we have startups like theScore Bet, a Toronto-based sports betting provider that is currently licensed in four US states; Rivalry, a Toronto-based esports and sports betting platform; and NorthStar Gaming, the newly created gaming company spun out of Torstar Corporation. These companies recognize that Ontario is a great place to do business and have made significant investments in this province to grow their businesses in Ontario.

Take theScore: Has grown its workforce by more than 40 percent over the past year and plans to bring hundreds more employees into Ontario in the next year alone, with a focus on technology and engineering roles. To accommodate its rapidly growing team and online gaming operation, the company is investing in a new 80,000-square-foot office in downtown Toronto.

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Dublin-based Flutter Entertainment is the world’s largest publicly traded online gambling company. Flutter’s Ontario-based technology office employs over 550 people and is one of Flutter’s largest and fastest growing technology offices, representing an annual investment of $80 million in Ontario.

Now the province can use iGaming to encourage businesses to invest in Ontario. This will show technology companies already located in the province that they are valued and will also encourage them to grow their operations.
Paul Burns, President and CEO of the Canadian Gaming Association, Toronto.

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