As it prepares for a launch in Ontario that its CEO expects to be “transformative” for its business, online casino operator High Roller Technologies believes it has the brand and operational strength to make a splash in the crowded province.
The Las Vegas-headquartered company is awaiting sign-off from the Alcohol and Gaming Commission of Ontario (AGCO) after applying to the regulator in May to enter Ontario’s regulated iGaming market. Once it gets the green light and signs an agreement with iGaming Ontario (iGO), it will be able to step into one of the most lucrative online casino-heavy markets in North America.
High Roller CEO Ben Clemes said on a company earnings call on Tuesday that things are looking good for an Ontario launch in the final quarter of 2025, pending regulatory approvals.
The company’s focus in the province will be on leveraging its online casino-centric brand to capture a share of what it labels a $2.5 billion market.
As well as launching in Ontario, the company plans to refresh its flagship High Roller brand and its secondary Fruta brand and add an unspecified third brand to its portfolio. It will also strengthen its geolocation and compliance, add hundreds of new games to the library, optimize its strategy to improve its economies of scale, and ultimately launch in Alberta when that province opens a dual online sports betting and online casino market in 2026.
Ready to make a splash in a deep pool
High Roller offers more than 5,600 games from over 90 game providers, which it says is one of the widest online casino game portfolios in the world. It offers products such as video slots, blackjack, roulette, baccarat, craps, video poker and more.
In preparation for its Ontario launch and its broader expansion, the company has put together a new executive team below Clemes, which includes Seth Young as chief strategy officer and Carlo Scappaticci as managing director of Canada. It has also partnered with a number of renowned service providers in Ontario. It will use Playtech’s tech platform, Xpoint’s geolocation services, Kinectify’s AML compliance tools and CheckIn’s ID verification capabilities.
Young outlined that with a clear casino-focused brand name and strong operational foundations, High Roller is confident of making waves in a market that already hosts more than 50 online gaming operators running more than 85 sites.
“Ontario is the sixth-largest regulated online gambling market in the world, it has a total addressable revenue opportunity of roughly $2.5 billion and counting,” Young said on the earnings call. “Almost 75% of that is casino revenue as opposed to sports betting revenue. It’s also growing every day.
“We’re a casino-led brand. We have one of the best brand names I’ve ever seen. Our product is super strong. The Canadian player is educated. And typically, casino-led brands backed by strong operators have shown a proclivity to over-index their fair market share of the casino portion of the total addressable revenue opportunity in these markets. So we definitely believe we’re going to be successful in Ontario and then eventually in Alberta following that.”
Young noted that it’s too early for High Roller to provide any guidance about what its potential revenue could look like for Ontario, but Clemes said the launch will be “transformative” for the company. Both executives noted that, as well as launching its third brand, the company is exploring other strategic opportunities for further expansion.
‘Complete turnaround’ in financial fortunes
Clemes and Young were speaking as High Roller reported a Q2 2025 that brought “a complete turnaround.”
EBITDA moved into the black at $362,000 USD, reversing a Q1 loss of $2.5 million USD and representing a year-over-year improvement of 138.9%, while revenue rose 19.5% YOY to $6.9 million USD. Executives said the results were driven by a 12% increase in net gaming revenue and better strategic cost management.
Average revenue per user rose by around 80% from Q1, boosted by refocusing marketing spend in key markets and a focus on acquiring more high-value users, while operating expenses and cash burn fell significantly. Chief Financial Officer Adam Felman said that each customer wagered an average of nearly $8,000 USD in between April 1 and June 30.
