AGCO Greenlights LuckyDays for Ontario Launch
In July, L7 Entertainment was given the green light to launch its live services on the Swedish market via its gaming brand LuckyDays. Now, it is time for the regulated gaming market in Ontario to welcome the same iGaming brand through a freshly secured Ontario license.
AGCO Has Issued a One-Year License to LuckyDays
The Alcohol and Gaming Commission of Ontario (AGCO) has granted its freshest online gambling operator license to LuckyDays. The license has a one-year expiration date and it will remain valid until October 12, 2023. LuckyDays will operate in Ontario using the LuckyDays.ca platform facing the Canadian public.
The official announcement was made after iGaming Ontario released the numbers for the second quarter in the province. iGaming Ontario (iGO) was set up while the province’s online gaming market was still preparing for take-off, in July 2021. iGO is a subsidiary of the pre-existing AGCO. Working together, the two have brought the freshly regulated gaming market to life in the Canadian province.
All entities that operate internet gaming platforms in the province are required to register as Internet Gaming Operators in Ontario. Operators must pay a yearly $100,000 regulatory fee per each gaming site they own. The fee must be submitted at the time their application is sent. Operators must also agree to enter an operating agreement with iGO. Gaming registrants are allowed to choose between a one-year or a two-year term option. Operators and suppliers alike must fully obey the Registrar’s Standards for Internet Gaming. They must also comply with a series of complex regulations regarding the prevention of money laundering, fraud, and terrorist financing activities. This means they need to check the identity of all new players registering accounts online.
Players Spent CA$6.04 billion on Sports Wagering in Q2
According to the Q2 report published by the iGO, Ontario consumers spent CA$6.04 billion (US$4.37 billion) on sports wagering activities during the said quarter. On average, a player spent $142 on wagering activities compared to just $113 in Q1. At the same time, the total iGaming revenue for the same period went up 64.8% to $267 million compared to the first quarter. Moreover, the number of active players in the market reached the 628,000 mark from 492,000 in the first quarter.
At the end of Q2, Ontario had a total of 24 active gaming operators running 42 licensed gaming websites. At the beginning of the month, Ontario approved nine new iGaming brands belonging to three operators in a desire to add more versatility to the iGaming market that was heavily dominated by offshore brands.
After finishing her master's in publishing and writing, Melanie began her career as an online editor for a large gaming blog and has now transitioned over towards the iGaming industry. She helps to ensure that our news pieces are written to the highest standard possible under the guidance of senior management.
