Ontario iGaming contributes CA$2.7bn to GDP in second year of regulation

Figures published in the official report, Deloitte’s Economic Contributions of Ontario’s Regulated iGaming Market, highlight a contribution of CA$2.7bn (US$1.97) towards the province’s GDP, already reaching 92% of the five-year forecast.

Ontario officially opened its fully regulated iGaming market in April 2022. Now, the second full year of data has revealed that the thriving market is exceeding financial expectations already.

Full-time jobs sustained by iGaming in Ontario were also up this year, reaching 14,935 compared to the 12,072 generated in 2022/23. The province sustained 2,675 direct jobs in its second year of regulation, 120% of the predicted figures.

Deloitte’s report estimated that CA$790m of the revenue generated in 2023/24 was put towards supporting the provincial government revenues, CA$75m toward municipal government revenues and CA$380m to the federal government.

Ontario Attorney General, Doug Downey, spoke on the latest figures, saying, “Our made-in-Ontario iGaming sector is being recognized internationally for its success as a leader in this space. Working together with our partners and industry, we will continue to drive innovation and deliver robust player protections, all while displacing the unregulated market. Our iGaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible iGaming industry.”

Ontario has seen a flurry of iGaming activity recently, with Greentube and Thunderkick both going live in the Canadian province this month. Read our Jan/Feb edition of Gaming America magazine to see why Ontario has become such a desirable market for online gaming operators.

Will Underwood

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