Canada
PlayCT.com: Connecticut opening door to market that could draw more than $1.5B in sports bets annually
Connecticut could evolve into a market that generates more than $1.5 billion in annual sports wagers and more than $100 million in operator revenue according to estimates by PlayCT, which analyzes and researches the state’s regulated online gaming and sports betting market. Meanwhile, online casinos could generate as much as $350 million in gross gaming revenues annually, becoming a huge tax generator for the state.
“Connecticut is a relatively small state, but the market has a handful of attributes that should help it punch a bit above its weight,” said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayCT.com. “Geographically, the state is in a good place, with the potential to draw significant out-of-state business from New York and Massachusetts. And Connecticut features one of the highest median household incomes in the U.S. Both factors should help the market reach maturity relatively quickly.”
Gov. Ned Lamont, who negotiated the agreements with the Mashantucket Pequot and Mohegan tribes to amend gaming compacts, signed the bill that would legalize retail and mobile sports betting, online casinos, online poker rooms and iLotteries. Now the U.S. Bureau of Indian Affairs will have to sign off on the compacts.
Once that happens, Connecticut will join more than two dozen states with legal sports betting in some form, and join New Jersey, Pennsylvania, Michigan, Delaware, and West Virginia as the only states with full-scale legal online casino gambling.
With a population of more than 3.5 million people, Connecticut could produce more than $1.5 billion in retail and online sports wagering by the market’s third year, according to PlayCT projections. Assuming a 7% “hold,” which is the percentage sportsbooks keep after paying out winning bets, those wagers could produce more than $100 million in operator revenue. With some significant variables still yet to be defined, tax revenue for the state is more difficult to project. But with a hypothetical effective tax rate of around 25%, more than $25 million could be injected into state coffers annually.
Iowa — which launched retail sports betting in 2019 and online sports betting in 2020 — may be Connecticut’s closest comparison in terms of population among current legal sports betting markets. With some 400,000 fewer residents but with a more open market that fosters more consumer choice than Connecticut, the Hawkeye state has produced $572.9 million in online and retail sports bets and $40.2 million in gross operator revenue through the first four months of 2021.
“Connecticut will be a successful market, and likely a significant revenue driver for the state for years to come,” said Dustin Gouker, lead analyst at PlayUSA.com. “The state’s high median income and proximity to New York should be significant contributors to the market’s growth, particularly early on as New York makes its own push into the online sports betting market.”
Online casinos should be even more lucrative, capable of generating close to $350 million in annual gross gaming revenue at maturity, according to PlayCT. If online casinos reach that mark, that would mean as much as $70 million in annual tax revenue for the state.
None of the five states that currently allow full-scale online casino gaming offer a close comparison to Connecticut in terms of market size. But the three largest iGaming markets — New Jersey, Pennsylvania, and Michigan — each generate close to $100 million in operator revenue each month.
“Sports betting grabs more headlines, but in states where it is legal, iGaming has proven to be the far more reliable revenue generator,” Ramsey said. “Plus, history shows that a thriving full-scale online casino gaming market helps spur interest in online sports betting, making it the tide that lifts all boats. And there is no obvious reason that Connecticut won’t follow a similar pattern.”
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AGCO
AGCO Fines Great Canadian Casino Resort Toronto $350,000 for Serious Regulatory Violations Linked to Impromptu After-Party on Gaming Floor
The Alcohol and Gaming Commission of Ontario (AGCO) has issued monetary penalties totaling $350,000 against Great Canadian Casino Resort Toronto for multiple violations of provincial gaming standards. The penalties follow an impromptu after-party that was permitted to take place in the pre-dawn hours directly on the casino’s gaming floor.
On September 27, 2024, an electronic dance music event attended by thousands of people was hosted in the theatre adjacent to the casino at Great Canadian Casino Resort Toronto. The event was marked by widespread intoxication, disorderly behavior, and numerous criminal and medical incidents – both inside and outside the venue – including alleged assaults, drug overdoses, and acts of public indecency. Although paid duty officers were present, additional police and emergency services were required to manage the situation.
In the midst of this high-risk environment, casino management approved an unscheduled request by the performing artist to host an after-party on the active gaming floor. The artist and more than 400 guests were permitted onto the gaming floor where the artist was allowed to perform amidst operational table games and gaming machines – without any prior risk assessment or planning.
As a result, security personnel were unable to effectively control the casino floor, including witness reports that an attendee was seen climbing onto slot machines. Failure to maintain appropriate control compromises the security, safety, and integrity of the casino floor. Following the conclusion of the event, the operator failed to promptly report these incidents to the AGCO as required.
Based on the findings of its review, the AGCO’s Registrar has issued an Order of Monetary Penalty (OMP) totaling $350,000 against Great Canadian Casino Resort Toronto. These penalties address critical failures in their operations, incident reporting, employee training, and the management of disturbances.
A gaming operator served with an OMP has 15 days to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.
“Casino operators have a fundamental duty to control their gaming environment. Great Canadian Casino Resort Toronto’s lapses in this incident compromised the safety of patrons and the security and integrity of the gaming floor,” Dr. Karin Schnarr, Chief Executive Officer and Registrar of AGCO, said.
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International Game Technology PLC announced that its subsidiary, IGT Canada Solutions ULC (hereinafter “IGT”), signed an eight-year agreement with Atlantic Lottery to supply its IntelligenEVO video lottery central system technology across Atlantic Canada. The agreement includes the option for multiple extensions and positions the Atlantic Lottery to become the first World Lottery Association (WLA)-affiliated lottery operator to deploy IGT’s next-generation central management system in a game-to-system (G2S) distributed market.
“By leveraging IGT’s IntelligenEVO technology, Atlantic Lottery will power its video lottery network with the industry’s best-in-class central system and position itself to maximize future contributions to good causes. As an organization that prioritizes system security and exceptional player experiences, Atlantic Lottery believes that IGT’s IntelliegnEVO solution will help generate high player satisfaction and optimal network performance,” said Michael MacKinnon, Atlantic Lottery VP, Product.
“As a long-time supplier to Atlantic Lottery, IGT looks forward to helping the Lottery achieve its growth and player engagement goals with our leading-edge IntelligenEVO video lottery central system. IGT’s IntelligenEVO is a scalable technology for the WLA market that is backed by decades of experience and operator feedback, and maximizes the benefits of real-time data, cloud-based technologies and in-depth analytics,” said David Flinn, IGT SVP Canada, EMEA and LATAM, Gaming Sales.
With peak system security, network availability and responsible gaming functionalities, IntelligenEVO is a reliable, scalable solution that can meet the needs of today and in the future. The solution will accelerate time-to-market and enables the Atlantic Lottery to benefit from the system’s suite of player-focused functionality. The technology’s G2S and open API design optimizes data collection and delivery and will enable Atlantic Lottery to customize their program for evolving player needs.
The post IGT and Atlantic Lottery Sign Eight-Year Video Lottery Central System Technology Agreement appeared first on Gaming and Gambling Industry in the Americas.
NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.
As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.
This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.
Pallavi Deshmukh, CEO of NetGaming, commented: “We are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.”
Richard Schwartz, CEO of Rush Street Interactive, commented: “We are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.”
This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.
The post NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform appeared first on Gaming and Gambling Industry in the Americas.
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