{"id":8938,"date":"2024-07-11T19:10:52","date_gmt":"2024-07-11T19:10:52","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=america&#038;p=8938"},"modified":"2024-07-11T19:10:53","modified_gmt":"2024-07-11T19:10:53","slug":"is-alberta-the-new-gold-rush-for-canadian-gaming","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/is-alberta-the-new-gold-rush-for-canadian-gaming\/","title":{"rendered":"Is Alberta the new gold rush for Canadian gaming?"},"content":{"rendered":"\n<p>\u201c<em>Don\u2019t screw up what you\u2019ve built in the past 20 years, which is a well-developed, well-penetrated market.\u201d<\/em> Is Alberta the new gold rush? <em>\u201cIt\u2019s always been a gold rush,<\/em>but we have to do our homework.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.youtube.com\/watch?v=4d0WZjXrn98&amp;t=29s\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/feria24\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl.png\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p>In light of the Alberta government\u2019s review of potential paths towards a commercial gaming industry, and Minister Dale Nally\u2019s declaration that the province will follow an Ontario-style open model, that question was posed to numerous experts at the past 2024 Canadian Gaming Summit.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/is-alberta-the-new-gold-rush-for-canadian-gaming2.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p><a href=\"about:blank\"><\/a><\/p>\n\n\n\n<p>The consensus was that the size of the opportunity is huge and the potential \u201ctremendous.\u201d<\/p>\n\n\n\n<p>According to figures Alberta gaming generated over $2.9 billion last year with Alberta Gaming, Liquor and Cannabis and its Play Alberta platform as the only regulated operator. That number, is expected to soar by $1.5 billion in 2024 with commercial gaming potentially on the horizon.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.mundovideo.com.co\/america\/canadas-race-to-pass-senate-regulating-gambling-adverts-continues-limited-time-for-parliamentary-approval\" target=\"_blank\" rel=\"noreferrer noopener\"><u>Canada&#8217;s race to pass Senate regulating gambling adverts continues, limited Time for Parliamentary Approval.<\/u><\/a><\/p>\n\n\n\n<p>Critics called Alberta \u201cone of the most penetrated gaming jurisdictions in North America.\u201d Even though Play Alberta holds a monopoly over licensed gaming, the province\u2019s gaming market is certainly mature. Experts at CGS noted that the province has a sizeable core of gamblers who have been betting online for years. Estimates suggest more than half of that activity is done on unregulated sites.<\/p>\n\n\n\n<p><strong>Ontario charts the path<\/strong><\/p>\n\n\n\n<p>One only needs to look at Ontario, to understand the potential rewards of bringing that grey-market activity under regulated oversight.<\/p>\n\n\n\n<p>Industry consultant Troy Ross noted on a separate panel titled <em>Alberta\u2019s iGaming Evolution <\/em>that the Ontario model has proven to work \u201cinfinitely better than we thought it would,\u201d reaching a channelisation rate of over 80% within the first year.<\/p>\n\n\n\n<p>\u201cIf Alberta follows a very similar regime with a similar type of regulatory principles and a similar tax rate, it is going to get a similar result,\u201d he said.<\/p>\n\n\n\n<p>Ontario is three times the population of Alberta and home of Canada\u2019s only MLB and NBA team. It recorded $1.5 billion in operator revenue in its second full year of operation. According to Citizens JMP Securities projections, Alberta\u2019s forthcoming iGaming market could generate more than $950 million a year in revenue by the third year.<\/p>\n\n\n\n<p>Albertans ready to spend<\/p>\n\n\n\n<p>In addition to the low corporate taxes mentioned by Nally in his speech, many experts cited the high disposable income of the Alberta population as a factor that should benefit an open market.<\/p>\n\n\n\n<p>Data shows that Albertans typically have anywhere between 22-25% more of their paycheques left over after taxes, rent or mortgage payments and other necessary spending than people in the rest of Canada. That data also suggests Albertans spend anywhere between 30-35% more on games of chance than residents of any other province due to a combination of factors including high income and the widespread availability of VLTs across the province.<\/p>\n\n\n\n<p>Article developed by By Tom Nightingale<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cDon\u2019t screw up what you\u2019ve built in the past 20 years, which is a well-developed, well-penetrated market.\u201d Is Alberta the new gold rush? \u201cIt\u2019s always been a gold rush,but we have to do our homework.\u201d In light of the Alberta government\u2019s review of potential paths towards a commercial gaming industry, and Minister Dale Nally\u2019s declaration [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8939,"menu_order":215,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[],"class_list":{"0":"post-8938","1":"america","2":"type-america","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is Alberta the new gold rush for Canadian gaming? 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