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Pragmatic Play Strengthens Ontario Market Reach with Caesars Digital Launch

PRAGMATIC-PLAY-STRENGTHENS-ONTARIO-OFFERING-WITH-CAESARS-DIGITAL-ROLLOUTPragmatic Play has further extended its influence in the North American iGaming market by launching its captivating slots portfolio with Caesars Digital in Ontario. This strategic partnership will initially feature Pragmatic Play’s extensive range of slots on Caesars Palace Online Casino and Caesars Sportsbook & Casino, with the company’s live casino suite set to be rolled out in the near future.

The agreement also underscores Pragmatic Play’s strategy of expanding its product offering in regulated markets like Ontario. The company’s ability to continuously innovate and develop new content, while ensuring compliance with local regulations, has allowed it to gain traction quickly in Canada’s competitive market.

Lots of Surprises for Ontarian Players

The integration brings top-performing titles like Gates of Olympus and Sugar Rush to Ontario’s players, alongside newer offerings such as Forging Wilds and Mustang Gold Megaways. This collaboration is a testament to Pragmatic Play’s growing presence in Canada and highlights the strong demand for their innovative and engaging content.

Pragmatic Play’s Chief Operating Officer, Irina Cornides, emphasized the significance of the deal, stating:

“Caesars Sportsbook and Casino is a prestigious gaming and entertainment brand. Pragmatic Play’s partnership with them reinforces our commitment to delivering player-favourite content to the world’s leading casino operators.”

Echoing Cornides’ sentiments, Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital remarked that Pragmatic Play’s award-winning portfolio of gaming titles represents an exciting addition to the company’s fast developing platforms. Having in mind that ten studio’s games have already proven popular with players across Ontario, he’s positive that this deal will result in numerous benefits.

The partnership with Caesars Digital is just the latest in a series of successful collaborations that have helped Pragmatic Play strengthen its position in North America. In recent years, the company has made significant strides in expanding its reach, not only in Canada but also in the U.S. and Latin America.

Firm Position on Global Level

Pragmatic Play has become well-known for its ability to produce high-quality gaming content at a rapid pace. The company currently releases up to eight new slot titles per month, in addition to providing Live Casino and Bingo products. These offerings are available through a single API, making integration smooth for operators.

Looking ahead, Pragmatic Play’s continued expansion in Ontario and other regions is expected to drive further growth for the company. The partnership with Caesars Digital, a leading operator in North America, is a crucial component of this strategy. With both companies committed to providing high-quality gaming experiences, players can look forward to even more exciting developments in the near future.

At the beginning of the current month, the supplier attended GAT Showcase Bogotá in Colombia. Held at the Sheraton Bogota Hotel, this event gathered numerous iGaming professionals.

In second half of September, Pragmatic Play will take part in another GAT event, this time to be hosted in the Renaissance Santo Domingo Jaragua Hotel & Casino in the Dominican Republic. Welcoming more than 300 delegates, this event will be crowded with informative presentations on new regulations and innovations withing online platforms.

Source:

“Pragmatic Play Strengthens Ontario Offering with Caesars Digital Rollout”, pragmaticplay.com, September 10, 2024

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Ontario iGaming Market Surpasses $2 Billion in Revenue, Sustains 15,000 Jobs

ONTARIO_IGAMING_MARKET_SUSTAINING_15000_JOBS_IN_SECOND_YEAR_SINCE_LAUNCHOntario’s regulated iGaming market has made significant economic strides, generating more than CAD$2 billion in revenue for the provincial government since its inception two years ago. According to a recent report by Deloitte, in its second year, Ontario’s competitive iGaming market (excluding the Ontario Lottery and Gaming Corporation’s iGaming offering) has sustained nearly 15,000 full-time equivalent jobs, marking an increase of 2,800 jobs from the first year.

A Recognized Leader in iGaming

“Our made-in-Ontario iGaming sector is being recognized internationally for its success as a leader in this space,” said Ontario Attorney General Doug Downey. “Working together with our partners and industry, we will continue to drive innovation and deliver robust player protections, all while displacing the unregulated market. Our iGaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible iGaming industry.”

Deloitte’s report highlights that the total government revenue generated through the iGaming market reached $1.24 billion in the second year. This revenue includes $790 million supporting provincial government revenue, $75 million bolstering municipal government revenues, and $380 million aiding federal government revenue.

“This report puts Ontario’s iGaming market government revenue contribution at over $2 billion since it launched and with job contribution up by 24% from its first year, the benefits to Ontarians are significant,” said Heidi Reinhart, chair of the iGaming Ontario board.

Economic Contributions and Growth

Ontario’s iGaming market contributed $2.7 billion to Ontario’s GDP in its second year of operation, up from $1.58 billion in the first year. For every dollar spent by iGaming operations, an estimated $1.40 of GDP was supported in the Ontario economy, an increase from $1.14 in the first year.

The iGaming market has already achieved or nearly reached many of Deloitte’s year-five projections in its second year, with government revenue at 94%, direct jobs sustained at 120%, total full-time jobs sustained at 9%, and GDP contributions at 93% of the initial expectations.

“Through the development and growth of Ontario’s regulated iGaming market, we’re helping achieve the government’s goals in terms of job creation, innovation, and development while providing a safer experience for consumers,” added Martha Otton, executive director of iGaming Ontario.

Detailed Economic Impact

The report from Deloitte indicates that Ontario’s regulated iGaming market sustained 14,935 full-time equivalent jobs in its second year, a significant increase from the previous year. The market’s contribution to the GDP amounted to $2.7 billion, with a notable portion of $1.3 billion supporting labor income. This economic activity resulted from both operational activities and capital investments by licensed iGaming operators.

The breakdown of government revenue supported by the iGaming market is substantial: $790 million in provincial government revenue, $75 million in municipal government revenue, and $380 million in federal government revenue. These revenues include various taxes such as the Harmonized Sales Tax (HST), property taxes, and corporate and personal income taxes.

Comparing Year 1 and Year 2 Results

The growth from Year 1 to Year 2 of Ontario’s regulated iGaming market is significant. The estimated contribution to Ontario’s GDP grew by 70%, from $1.6 billion to $2.7 billion. The contribution to labor income increased by 45%, rising from $905 million to $1.3 billion. Employment contributions saw a 24% rise, growing from 12,070 full-time equivalent jobs to 14,935. Additionally, the contribution to provincial and municipal government revenue in Ontario increased by 66%, from $525 million to $865 million.

This robust growth illustrates the dynamic impact of Ontario’s regulated iGaming market on the province’s economy. The sector not only creates jobs but also drives significant revenue for the government, supporting a variety of public services and initiatives.

Source:

ONTARIO IGAMING MARKET SUSTAINING 15,000 JOBS IN SECOND YEAR SINCE LAUNCH, gamingintelligence.com, June 20, 2024.

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Playtech Extends Strategic Agreement with NorthStar in Ontario

Established iGaming industry stakeholders Playtech and the NorthStar Gaming Holdings extend the strategic partnership from June 2023 to reinforce their operations in the growing Ontario market. Their respective verticals, Playtech Software Limited and the NorthStar Ontario, will be able to exclusively focus on the operating goals set after Playtech has agreed to funnel CA$3.0m (US$2.2m) in short-term financing to NorthStar to facilitate player pool expansion in Ontario.

$4.0 Million Financing Facility

The original strategic agreement signed in June 2023 included a complete availability of Playtech Software’s services for the operator. The facility valued at $4.0 million was a key driver for NorthStar to increase its presence in the Canadian province in 2023 and grow revenues accordingly.

Six-Month Extension

The strategy seems to have proven successful as the deal is now extended. Under the extension, Playtech Software will continue with the provision of similar marketing services once again valued at $4.0 million. The renewed contract has been set for a six-month performance and will run through 31 October 2024.

Reimbursement Plan

Under the agreement, NorthStar will use the short-term financial facility to boost its marketing activities and repay the funds to Playtech Software from the income generated over the contract period. The operator will benefit from the balance between the revenue generated and the six-month financing cost, while the provider may benefit from the financing conditions.

Financing Ontarian Expansion

playtech_renews_ontario_deal_with_northstarAs for these conditions, NorthStar has already issued a $3.0m unsecured, interest-bearing promissory note to Playtech, with interest rate of 8.0% per annum, payable in arrears at maturity. According to NorthStar, the investment will help the company’s balance sheet adjustments and continued expansion in Ontario.

NorthStar chair and CEO Michael Moskowitz commented: “We are very pleased to continue to strengthen our relationship with Playtech, one of the world’s leading gambling technology companies. Their ongoing support has been instrumental in helping us to acquire new customers, provide a premium online gaming experience and fund the expansion of our brand in Ontario and across Canada.”

$12.25 Million Investment Boosts Collaboration

The extension of the 2023 strategic agreement comes after Playtech agreed to make a $12.25 million strategic investment in the NorthStar Ontario-based online casino and sports betting facility a few months earlier. In fact, the strategic partnership between the two companies dates back to December 2021. Since then, Playtech has supported NorthStar and the the existing contract for software and services has now been extended by 10 years.

Repayment Guarantee

Playtech’s investments are converted into equity and warrants related to Baden Resources Inc, a company acquired by NorthStar in March 2023.In this way, Playtech holds around 16% of shares belonging to NorthStar, as well as warrants to potentially acquire above 20% stake in this company. The transaction is additionally secured by the inclusion of Playtech’s chief financial officer Chris McGinnis in the board of directors of the subject entity.

Source: “Playtech renews Ontario deal with NorthStar and advances financing’’. iGaming Business. April 29, 2024.

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Ontario Regulator Stops Betting on World Boxing Association Events

ontario_halts_world_boxing_association_betting_over_integrity_concernsThe Alcohol and Gaming Commission of Ontario, the government body in charge of regulating sports betting and gambling in Canada’s most populous province, has ordered all licensed operators in the region to stop offering bets on events organized by the World Boxing Association (WBA).

The measure was due to concerns over the integrity of those events after the Alcohol and Gaming Commission of Ontario ruled that boxing matches organized by the WBA do not have adequate safeguards in place when it comes to preventing match fixing and insider betting. This all started after the regulator conducted a thorough review of the wagering activity of a title fight organized by the World Boxing Association.

The respective bout was the one between Yoenis Tellez and Livan Navarro, when the Ontario regulator observed suspicious betting patterns in live bets being placed over five and a half rounds during the match. The bout was observed by two registered independent monitors while the betting activity took place at a registered iGaming operator in the Canadian province.

There were also reports in the media claiming that the manager of Yoenis Tellez placed bets worth 110,000 dollars at a casino in Florida on the match going on for over five and a half rounds. The bet was a winning one as the match went on until the tenth round, when Tellez managed to knock out Navarro.

All Eyes on Insider Betting

The match took place in December 2023 in Florida and that is also when the Alcohol and Gaming Commission of Ontario started its review of the matter. One of the conclusions of the respective review was that bets related to boxing matches organized by the WBA don’t meet the current version of the Registrar’s Standards for Internet Gaming. This led to the indefinite suspension of betting on WBA events in Ontario.

The Alcohol and Gaming Commission of Ontario also underlined that its licensed operators were asked to demonstrate that the WBA prohibits betting from insiders and the respective operators were unable to do that. This means that coaches, managers, handlers or medical staff involved with one of the fighters could place bets on the respective matches while having the benefit of knowing non-public information. Moreover, the review found no proof that the World Boxing Association took any action to investigate past allegations of match fixing and insider wagering.

This is not the first time the Alcohol and Gaming Commission of Ontario takes such a measure. In December 2022 the regulator ordered licensed operators to stop offering bets on UFC (Ultimate Fighting Championship) matches following similar concerns over insider betting. That ban lasted just for a few weeks because the UFC then implemented new protocols to prevent insider betting.

Source: “Ontario halts World Boxing Association betting over integrity concerns“. iGaming Business. April 19, 2024.

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Ontario iGaming Q1 2023, Full Year 2022 Numbers Out – Casinos are Smashing It

ontario-igaming_q1_2023_full_year_2022_numbers_out_casinos_are_smashin_itOntario iGaming has released a market report for the first quarter of 2023, and online casinos continue to hammer online single-event sports betting in the free commercial market. More than 80% of the action (83%) and over 70% of the nascent market’s revenues came from casino gaming rather than sports betting.

The numbers starkly contrast with some of the projected estimates coming out of the Canadian province before the market opening in early 2022. Those numbers seem to have all but disappeared from the news, being overwhelmed by the sheer reality of what it is in fact, that Canadians like to bet on casino games a lot more than they care to bet on sports.

iGaming Ontario Fiscal Year Began April 1

When referring to first quarter numbers, the information relates to (Q1) of the 2023-24 fiscal year which ran from April 1 through June 30, 2023.

Outside and casual observers might also be surprised which sports got the most action with basketball leading hockey by orders of magnitude. Sports bettors were “turned off” by betting ads all over television and other media and the country hasn’t won a Stanley Cup in ice hockey for three decades.

That being said, online casinos dominated the money story with over 5x as much in wagers ($11.6B vs $2.B) than sports betting but operator win was much less as a percentage of turnover, as is to be expected, when comparing the amount of money players left on the tables, in the virtual slots, and on the book. Casinos produced $392M in revenue as opposed to the $182M that betting generated.

The market currently has 71 gambling sites in operation, five less than at the end of the year but has picked up one additional operator. The number of active accounts has shrunken a bit as well to less than one million.

However, it must be kept in mind that it does not mean there are a million online gamblers in the province that play at regulated, taxed, and licensed websites as each account is counted separately.

The minimum number of participants could be as few as 12,958 or as many as 920,000. Among other reasons, since many operators only allow one bonus across all of their websites, it’s highly unlikely any but a small handful of customers have over 50 separate accounts, but it’s also a stretch to think that nearly anyone has less than half a dozen – making the probable number of actual active players fall somewhere on the lower end of the spectrum, but still in the hundreds of thousands.

The average spend per active player account during Q1 was $197.

Money wagered on slots was more than that wagered on all table games combined, and here again the apples and oranges must be sorted out. Slots spins happen more rapidly than table game bets in succession so the games will see a lot more betting, however, table game bets – both virtual and live dealer casino bets, are usually larger. Regardless, slots made up some 48% of all wagers while live casino games made up about 32% of all gaming wagers with virtual random number generator-based table games accounting for at least 8% of the remainder while peer-to-peer bingo games made up the rest.

This quarterly report was the first time that game-by-game volumes could be extracted from an iGaming Ontario report.

First Full-Year Numbers Released in Tandem

Following is a breakdown of the 2022/2023 fiscal year numbers (FY2022-23 – April 4, 2022, to March 31, 2023) as provided by the authority.

  • Last year, casino games, including slots, live and computer-based table games as well as peer-to-peer bingo, accounted for nearly $28B (78%) of total wagers and $940M (67%) of gaming revenue.
  • Betting, including traditional sports, esports, proposition, and novelty bets accounted for $7B (20%) of total wagers and $433M (31%) of gaming revenue last year.
  • P2P poker accounted for $992M (3%) of total wagers and $40M (3%) of gaming revenue last year.

None of the numbers above in any section include Ontario Lottery and Gaming Corp. (OLG) information, which will be released at a later date. As such, it is not possible to directly infer any amount of direct losses or cannibalization to the long-existing Crown Corporation public/private partnership operation which formerly ran a monopoly on Canadian-licensed casino games through its PlayOLG website.

As always, Canadians in Ontario and other provinces are free to bet at offshore casinos as well – with those numbers still obscured by a lack of centralized regulatory reporting in jurisdictions such as Malta or any reporting from licensing jurisdictions like Curacao which handle those operators.

The Kahnawake Gaming Commission does not provide market reports either.

“As part of its commitment to sharing aggregate revenue and market insight reports, iGO intends to continue releasing, at minimum, a market report every quarter,” iGO said Wednesday.

Source: iGaming Ontario’s FY 2023-24 Q1 Market Performance Report, iGaming Ontario, July 19, 2023

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