The bill still needs to be reviewed by the Senate for reading and adoption before everything is official. But theScore CEO has already voiced his praise to lawmakers in a statement.
Founder and CEO of theScore, John Levy, said: “We commend the members on all sides of the House of Commons for quickly passing this much-needed legislation.
“Today’s development is a major step forward and we are increasingly encouraged by the widespread industry and strong cross-party support that Bill C-218 has garnered. Now that Bill C-218 has been passed by the House, we look forward to the Senate swiftly carrying the ball over the goal line.
“We also want to recognize MP Kevin Waugh for his tireless work in sponsoring and shepherding Bill C-218 through the House of Commons."
According to theScore, online gaming in Canada has a market potential of between $3.8bn and $5.4bn in annual gross gaming revenue. It reached this estimation by analysing historical data from legal gaming markets in the US and globally.
The Canadian-based media and gaming company will hope to bank on this legislation and tap into the market potential, as the operator has already found some success with its news and data apps as well as its mobile sportsbook.
Recently theScore was valued at around $1bn and it hopes to expand further in the US. Perhaps with the passing of more US gaming bills, Canadian legislation isn’t the only area of optimism for CEO Levy.