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When the regulated Alberta online casino market launched on July 13, 22 online casino sites were ready.
That number has since increased to 27, from 22 different operators.
And, by October, that number could double. So says Dale Nally, the province’s Minister of Red Tape Reduction and Service Alberta, which is overseeing the introduction of the legal online gambling space.
“The 22 operators are just the ones that were able to go live by now,” said Nally. “There’s several more companies that are still in various stages of the approval process with the AIGC (Alberta iGaming Corporation) and AGLC (Alberta Gaming, Liquor and Cannabis), and so we anticipate we could even see that number double before Oct. 13. The channelization looks very positive, and this is what it’s been about since day one.”
Nally reiterated that the reasoning for opening the marketplace was never about government revenue; it was about ensuring gambling could be regulated in a way that was a lot more responsible and transparent than the black market. But the province did forecast that its take from the first year of iGaming in Alberta would be $76 million CAD.
Nally said, through the first month of operations, those financial targets still look realistic.
“It’s pretty close,” he said. “It’s early days, so we need more data. But the initial projections, data-wise, suggest that we won’t have a problem hitting our revenue forecasts. And, if all the operators that are trying to funnel into the system are able to successfully meet our requirements, then I have no doubt we’ll meet those revenue forecasts.”
The province retains 20 percent of all iGaming revenue. So, if $76 million in revenue is forecast as the government’s share, that means that iGaming from July-December is expected to bring in a total of $380 million.
Two percent of the revenue will go to Alberta’s First Nations.
A spike in revenue is expected in September, when the NFL season begins, as it is such a major betting attraction. In October, action begins in earnest with the new pro hockey and basketball seasons.
