Online casino operator High Roller Technologies posted its first quarterly profit as a public company as it awaits entry into two Canadian provinces in 2026.
The operator said it has made significant progress towards Ontario market launch and estimates that it will go live in the regulated iGaming province in the first half of 2026. High Roller applied to the Alcohol and Gaming Commission of Ontario (AGCO) for a license in May and is waiting for approval before executing an operating agreement with iGaming Ontario (iGO) to start offering its flagship High Roller online casino to Ontarians.
“Once High Roller receives its operating license in Ontario, we expect our launch to be a major catalyst for the business,” said CEO Seth Young on an earnings call this week. “Ontario is a huge launch for the business and will be transformative relative to existing operations. We are truly preparing for scale here.”
Alberta on the agenda
Young was speaking after High Roller reported $6.3 million USD ($8.8 million CAD) in total revenue for the three months ended Sept. 30, with approximately $5 million USD ($7 million CAD) in net gaming revenue and its first positive net income as a publicly traded company. Adjusted EBITDA in Q3 reached $622,000 USD ($873,000 CAD), up substantially both quarter-on-quarter and year-over-year.
“We believe this deliberate and thoughtful transformation is, without question, positioning High Roller for the next phase of its evolution and is a major silver lining as we continue to navigate the licensing process and brand launch in Ontario,” added Young.
It’s far from just Ontario entry on the horizon, though. Young confirmed in an interview with Canadian Gaming Business in September that High Roller will be “knocking at the door” to be an early entrant in Alberta when that province opens its regulated iGaming market in 2026.
Beyond that, Young told CGB that while the company is currently focused on Canada and Finland as its core markets, it’s keen to expand its horizons and borders.
“As we continue to execute our shift towards regulated markets, we believe we’re only beginning to unlock the full potential of our brand and our team,” Young added on this week’s call. “In addition to preparing for our launch in Ontario, and in addition to the opportunity we’re pursuing in Alberta, we are actively assessing expansion opportunities in more regulated markets throughout North America, Latin America and Europe.”
Casino specialist brand also looking at sports
Young said that High Roller is also exploring M&A opportunities that could offer opportunities for further product and geographic diversification.
One of the avenues under consideration is adding a sports betting product to supplement what the High Roller team believes is a standout online casino brand and experience.
“We are diligently pursuing strategic product and market diversification initiatives in earnest, which, among other things, represent an expansion of our total addressable revenue opportunity,” added Young. “The opportunity ahead of us is tremendous.”
New COO rolls into High Roller
High Roller has assembled a new leadership team in recent months. Former Chief Strategy Officer Young took over as CEO from Ben Clemes on Sept. 1 and other top-level roles have been filed from both within the company and elsewhere.
As well as reporting its latest results this week, High Roller confirmed it has appointed Jake Francis as its new chief operating officer. Most recently the SVP of operations at Australian sportsbook BlueBet (now betr), Francis has also worked in iGaming director roles at PENN Interactive and Hard Rock Atlantic City.
