Ontario’s iGaming marketplace created more than 12,000 jobs in its first year
According to a recent Deloitte study, Ontario’s regulated gambling market has provided permanent jobs for more than 12,000 people in its first year. It also contributed almost 1.6 billion Canadian dollars ($101.3 billion) to the province’s GDP.
These and other economic benefits are discussed in the report, The Economic Contribution of Ontario’s Regulated Gambling Market. Researchers predict that the province’s regulated market has the potential to create up to 22,000 full-time jobs. The contribution to GDP could rise to $4.7 billion (R$297.6 billion) annually. The province’s gaming industry is likely to reach these figures by 2031-2032.
Dave Forestell, chairman of iGaming Ontario, said, Today’s report shows that Ontario’s newly regulated gambling market is bringing real benefits to every resident, whether they gamble or not. The iGaming industry is truly the engine of Ontario’s economy. Together, we can help realize our goal of leading the global gambling market right at home.
The report shows that workers in the province’s gambling industry make an average of $103,000 (R6.5 million) a year. That’s 41% higher than the average wage across all industries in Ontario.
Between 2022 and 2023, the provincial economy added about $1.14 of GDP for every dollar gambling operators spent on operating or capital spending. By 2031-2032, this will rise to $1.78 of GDP for every dollar spent, according to the report.
The study provides a market analysis as of April 26, 2023. It is based on data sharing, secondary research, and interviews with gaming industry stakeholders.
Notable: total revenue for Detroit’s three casinos exceeded $105 million in May.
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