Wild Rose Country is embracing change as the Red Tape Reduction States Amendment Act, known as Bill 16, recently received approval, granting the Alberta government the authority to oversee the growth of its gaming and sports betting sectors.
This initiative reflects the Alberta government's aspiration to achieve outcomes akin to those in Ontario, which effectively regulated its gaming market in 2022. “As we develop our policies and transition to a more transparent online gaming framework, the Alberta government is committed to studying effective practices from other regions, including Ontario,” noted a spokesperson for Minister Dale Nally.
With Ontario's iGaming sector featuring over 70 regulated casinos generating $2.4 billion in revenue last year, it serves as a successful model for Alberta to emulate. The Ontario government regulates third-party operators, allowing quicker market access for newcomers while ensuring player safety and fair gaming practices. Only those casinos that receive an endorsement from iGaming Ontario can legally operate. Alberta is now preparing to establish a similar regulatory body.
However, Alberta will not solely rely on Ontario for insights into the new regulations: “In the future, we will engage with all 47 First Nations and the six First Nation casino operators,” the spokesperson added, expressing anticipation for their input on iGaming.
Premier Danielle Smith has emphasized the importance of collaboration with Indigenous communities in her directive to Nally regarding the bill. She instructed Nally to “Work alongside Indigenous partners to finalize the development and implementation of Alberta’s online gaming strategy, focusing on responsible gambling and revenue generation for both the province and Indigenous communities.”
Future discussions with Indigenous communities regarding the Red Tape Reduction are on the horizon. The province also plans to connect with other stakeholders, including operators from local casinos and racetracks, to ensure that the regulatory framework is optimally designed.
This Bill was introduced following the allocation of $1 million to review the Gaming, Liquor, and Cannabis Act. Premier Smith has tasked Nally with thoroughly investigating the iGaming market to discover the most beneficial ways for Alberta to tap into the opportunities presented by this regulatory shift. Bill 16 marks a significant leap towards the establishment of Alberta's online gaming market.
According to Bruce Caughill, the Managing Director of Canada for Rush Street Interactive, the timing of the Bill's passage is ideal: “The Alberta government is eager to make this a reality right away,” and rightly so. Alberta's favorable population dynamics, low corporate tax rates, and high disposable incomes create an excellent environment for online gaming. Additionally, Alberta ranks among the top provinces in Canada for per-capita gambling expenditures, which makes it a particularly lucrative market.
While it might have been preferable to launch sooner, Albertans can expect a fully regulated gaming market to debut by 2025.
Latest Casinos to Launch in Canada
