Ontario’s iGaming market revenue grew 105% in the second quarter of 2023

iGaming Ontario (iGO) has published a report on the performance of the Canadian provincial gambling market for the second quarter of fiscal years 2023-2024. We’re talking about the period from July 1 to September 30, 2023. The report contains information on all gaming website operators that were trading during this time period.

According to the released data, gaming revenue amounted to 540 million Canadian dollars (38.6 billion rubles). While the result was $5 million dollars (357.3 million rubles) less than the first quarter, it was 105% higher than the second quarter of last year.

Total bets reached the mark of $14.2 billion (1.015 trillion rubles) excluding bonuses. Thus, the previous quarter’s record of $14 billion (1.0004 trillion rubles) was broken. Also, the amount of bets exceeded by 132% the same figure for the second quarter of last year.

According to the report, the number of gambling sites remained unchanged (71), and the number of operators operating in the legal Ontario market increased from 46 to 47. There has also been an increase in the number of active user accounts. From 920,000 in the first quarter of 2023 to 943,000 in the second quarter. However, the average monthly spend per account decreased from $197 (14,077 rubles) to $191 (13,648 rubles).

Slots, table and other casino games accounted for 84% or almost $11.9 billion (over 850 billion rubles) of the total betting volume. This category of entertainment also accounted for 75% of gaming revenue – 407 million dollars (over 29 billion rubles).

Speaking at G2E earlier this week, Martha Otton, CEO of iGO, noted the stability of the second quarter results compared to the first quarter. Otton added: One of our challenges is the quality of the data we receive from operators. When you’re dealing with 47 companies, many of which have never operated in Canada or the U.S., it’s a challenge to get the quality of data we get from the operators.And Ontario — frankly, that’s been a problem for us. We want to make sure the data is accurate before we publish it.

Of note: Urban One is pushing a casino resort project ahead of the Richmond referendum.






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