Ontario iGaming Brings in CA$1.6b and Supports 12k Jobs
LISTEN TO THIS ARTICLE:Speaking at the recent Canadian Gaming Summit in Toronto, Martha Otton, the iGaming Ontario executive director, highlighted the strength of the young market and what it is contributing to the local economy.
The full performance in the first quarter was not revealed; however, Otton said that the year-on-year results are expected to be more than triple in size. The first quarter will end on June 30. Instead, the results from a report by Deloitte were released. The “Economic Contributions of Ontario’s Regulated iGaming Market” report concluded that the iGaming industry in Ontario supports 12,000 full-time jobs and brought in CA$1.6 billion.
Otton also said that those working in the industry were commanding a salary that was above the provincial rates. She said that the average iGaming employee earns $103,000 a year, 41% higher than Ontario’s average annual salary.
Furthermore, Deloitte has predicted that the industry may grow to support 22,000 full-time jobs and bring the government revenue of CA$2.1 billion. However, the report said that it is more likely that the government will receive CA1.4 billion in revenue from iGaming by 2031 or 2032.
iGaming Ontario is a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO), and Otton was part of a panel discussing the Ontario market at the Summit. AGCO CEO Tom Mungham, as well as iGaming Ontario board chair Dave Forestell and Ontario AG Doug Downey, joined her.
The conclusion was that the prospects for iGaming in Ontario seem excellent, and as such, there is a real chance of further provinces legalizing iGaming and sports betting.
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