The Government of Ontario has announced that it earned $162 million in gaming revenue
during this year’s second quarter.
The earnings include money generated from the provinces expanded gambling market that
includes online sports betting through private companies. Those private sector companies now
compete against government-run gambling products such as Proline.
U.S. consulting firm VIXIO Gambling estimates that the Ontario gaming market could be worth
as much as $1.6 billion in revenues to the province this year, rising to $2.36 billion in 2023.
iGaming Ontario (iGO), a subsidiary of the Alcohol and Gaming Commission of Ontario,
released its first financial figures, which cover the second quarter that runs from April through
the end of June.
iGO said Ontarians bet $4 billion during the second quarter, and that revenues to the provincial
government during the period totaled $162 million.
Several foreign gaming companies have entered the Ontario market in the past year looking to
capitalize on the legalization of sports betting in the province. These companies include
DraftKings (DKNG) and PENN Entertainment (PENN).
