Revenue in Ontario's iGaming market surged by 105% in the second quarter of 2023
According to the published figures, gaming revenue reached CAD 540 million (approximately USD 400 million). While this represents a decrease of CAD 5 million (around USD 3.7 million) compared to the first quarter, it marks a 105% increase over the same quarter last year.
The total amount wagered during this period hit CAD 14.2 billion (about USD 10.5 billion), excluding bonuses. This figure surpasses the previous quarter's record of CAD 14 billion (approximately USD 10.4 billion) and is up 132% compared to the second quarter of the previous year.
The report indicates that the number of gaming websites remained stable at 71, while the number of operators in Ontario's regulated market increased from 46 to 47. There was also a rise in the number of active user accounts, which grew from 920,000 in the first quarter of 2023 to 943,000 in the second quarter. However, the average monthly spend per account decreased from CAD 197 (around USD 145) to CAD 191 (approximately USD 141).
Slots, table games, and other casino games accounted for 84% of the total wagers, amounting to nearly CAD 11.9 billion (over USD 8.8 billion). This category also generated 75% of gaming revenue, totaling CAD 407 million (more than USD 300 million).
Speaking at the Global Gaming Expo (G2E) earlier this week, iGO CEO Martha Otton highlighted the stability of the second quarter's results compared to the first quarter. Otton noted, "One of our challenges is the quality of the data we receive from operators. When you're dealing with 47 companies, many of which have never operated in Canada or Ontario... frankly, this has been a challenge for us. We want to ensure that the data is accurate before we publish it."
In related news, Urban One is advancing its casino resort project ahead of a referendum in Richmond.
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