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NorthStar Gaming takes quarterly record revenue in Q4 2023

Toronto-based NorthStar Gaming reported a 103% year-over-year increase in Q4 revenue as it unveiled the financial results for its first full year of operations.

NorthStar took total revenue of $6.5 million in the three months ended Dec. 31, 2023, a quarterly record for the company and more than double the $3.2 million it took in the same period of 2022. Gross gaming revenue for the company’s NorthStar Bets wagering platform in Q4 2023 was $7.6 million, up 85% YOY. Total handle for the betting platform rose 90% in the same period, to $213.3 million.

Given that NorthStar only launched in mid-May 2022 in Ontario, the 12-month period covered by this week’s financial report was its first full year of operations. While revenue was up 240% in 2023 compared to 2022, that period is nearly twice as long as the previous year.

However, NorthStar made $19.4 million in 12 months in 2023 compared to $5.7 million in seven and a half months of 2022. Extrapolating that latter figure to span the whole of 2022 would take the hypothetical Y1 revenue figure to around $9 million, which would represent an increase of more than 100% in Y2.

NorthStar Bets’ handle for 2023 was $648.8 million in 2023, up 251% compared to the $184.7 million in bets during the 2022 operating period. GGR for the betting site was up 208% to $22.5 million in 2023 and gross margin was $7.1 million in 2023, an increase of 492% over $1.2 million in 2022. That margin represented approximately 36% of revenue last year compared to 21% of revenue in 2022.

Though the business reported a net loss of $25.5 million during its first full year. CEO Michael Moskowitz noted in a letter to shareholders that the company has now posted six successive quarters of growth in both customers and revenue.

“We delivered very strong growth in our first full year of operations, with revenue and customers increasing sequentially in every quarter,” said Moskowitz. “Key accomplishments during the year included the public listing of our shares, numerous product innovations to enhance our online betting platform, a strengthening of strategic partnerships, implementation of a marketing plan that has yielded an excellent return on investment, and the Slapshot Media acquisition which has enabled us to expand our addressable market through a First Nations-managed services arrangement.”

Year of progress for NorthStar

In its year-end reporting, NorthStar pointed to a year of progress across numerous verticals.

As well as exceeding the $1 billion mark in total wagers since NorthStar Bets’ launch, the company also introduce branded studios for select live dealer games last year. In the first months of 2024, NorthStar surpassed 600 casino games covering all major categories and curated from renowned vendors worldwide. It also revamped its Sports Insights department, which produces a variety of sports and betting content featured on major Canadian media platforms such as the Toronto Star, and launched a VIP Rewards program.

Notably, the company, which listed on the Toronto Stock Exchange in March 2023, also commenced trading on the U.S.-based OTCQB Venture Market in March this year.

The year-end results were published just a few days after NorthStar announced it extended its strategic partnership with Playtech through a renewal of the pair’s existing marketing agreement. Playtech will also provide another $3 million worth of short-term financing, the proceeds of which NorthStar says will be used to fund the company’s continued growth as well as for general corporate purposes.

In his letter to shareholders, Moskowitz credited that partnership with “giving us access to some of the world’s premier gambling technology and marketing services.”

Ultimately, Moskowitz said NorthStar is well-positioned to capitalize on its momentum, adding that “as we scale the business, we expect to realize operating leverage as revenue continues to grow faster than expenses.”

“NorthStar is a rapidly growing company in a relatively new sector with a lot of runway ahead,” he told shareholders. “We have a differentiated offering and, as a locally-based company, a distinct familiarity with the Canadian market. We are small and nimble enough to introduce innovation to our platform, while at the same time having access to world-leading technology and services through our committed partners. Our business model is gaining traction and has the potential to deliver strong returns.”

Countdown to SBC Summit North America, welcoming 5K delegates next week

The upcoming SBC Summit North America, set to be held at the Meadowlands Exposition Center in New Jersey from May 7-9, will welcome a record-breaking 5,000 delegates eager to expand their connections in the evolving North American market.

The three-day event will feature a pre-day Player Protection Symposium, an expansive exhibition floor, and a comprehensive conference. In collaboration with +More Media, SBC will also host the inaugural Capital Market Forum, on Monday, May 6.

“The North American market is still undergoing a pivotal and transformative shift. Despite some regulatory roadblocks, sports betting is continuing to go from strength to strength as evidenced by the recent developments in Vermont, Kentucky, Maine, and North Carolina,” said SBC CEO and Founder Rasmus Sojmark.

“With that said, there is still much more to be achieved in the market, and alongside discussions on the slow progress of iGaming, SBC Summit North America will serve as the ideal opportunity for delegates to equip themselves with the tools to prosper and continue pushing the market forward.”

A notable feature of the event will be the conference program spanning eight dedicated tracks across four stages. The conference, featuring 300 speakers, will aim to address crucial issues affecting the North American markets. Throughout the event, delegates can anticipate discussions encompassing the reinvention of land-based experiences through digital integration, strategies to build upon the ongoing success of tribal gaming, methods for forging successful operator-league partnerships, an exploration of emerging technology set to innovate the sports betting market, and more.

The first core day of the event will feature notable appearances from Rep. Dina Titus, President of the National Council of Legislators from Gaming States (NCLGS) Delegate Shawn Fluharty, Caesars Entertainment Board Member Jan Jones Blackhurst, former President of the WNBA (Women’s National Basketball Association) Donna Orender and Robert Norton, President of Cordish Companies Casinos & Hotels.

The second day will commence with an exclusive Q&A keynote session with nine-time Pro Bowl quarterback, and former Miami Dolphin, Dan Marino. Marino will reflect on his decorated career playing for the Miami Dolphins, his work with the Dan Marino Foundation and will share his views on the wider sports industry.

Additionally, the second day of the conference will feature a keynote presentation by Trustly’s Vice President of Gaming, John Parsons, as he shares strategies for operators seeking to utilize open banking solutions to enhance player loyalty.

The exhibition floor will host over 75 global and regional brands, showcasing cutting-edge technology, the latest game releases and innovative services and products. Companies appearing on the show floor include leading operators such as Bet365 Partners, well-known affiliates like Key Affiliates, innovative game studios such as RLX Gaming and White Hat Gaming, and suppliers like BetConstruct, Continent 8 Technologies, Kinectify and Trustly.

In addition to showcasing the industry’s latest offerings, the exhibition floor will provide delegates with a variety of daytime networking opportunities. The first day of the summit will see daytime events such as the Global Gaming Women Meet-Up Breakfast, sponsored by PayNearMe and VDX.tv, the African Americans In Gaming Meet-Up, and a Drinks Reception sponsored by BTI Labs. The second day will see the exhibition floor host both the Tribal Gaming Breakfast Meet-Up, sponsored by Strive Gaming and the Responsible Gambling Affiliate Association (RGAA) Launch & Networking Drinks, sponsored by Affiliate Leaders and Better Collective.

Away from the exhibition floor, SBC Summit North America will offer all those with a full event pass an array of exciting evening networking opportunities. These networking events include the SBC Summit North America Opening Party, held at Slate NYC (May 7), the Official Networking Party and Sports Betting Hall of Fame at Red Bull Arena (May 8) and the Official Closing Party and Awards After Party at the Magic Hour Rooftop Bar & Lounge at Moxy Times Square (May 9).

Closing the event will be the prestigious SBC Awards Ceremony, taking place at Hilton Midtown on the evening of May 9. The ceremony will serve as an excellent opportunity to shine a light on the tremendous achievements of companies and individuals over the past twelve months, celebrating the best operators, affiliates and suppliers in the industry.

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Please note that a separate ticket is required to attend the SBC Awards ceremony. Details regarding available table and ticket options can be found here.

For groups of three or more, you can purchase the ‘Group Pass Ticket’ gaining you access to all three days of SBC Summit North America for the discounted price of $895 per person. 

Additionally, operators and affiliates can apply for a free pass to the event.

Alberta to begin consultations with gaming stakeholders this year

After Alberta set aside $1 million in its 2024 budget to assess the potential of a regulated gaming and betting market, the province says it will begin discussions with industry stakeholders later this year.

The province has not formally announced a timeframe for taking solid steps toward exploring the potential of gaming in the province. But after the announcement of the funding for a review of the province’s Gaming, Liquor, and Cannabis Act in March, Canadian Gaming Business reached out to the office of Dale Nally, Minister of Service Alberta and Red Tape Reduction.

A spokesperson for the minister told us that the government will hold discussions with a variety of parties this year.

“The province will engage with traditional casino operators, Racing Entertainment Centre operators, and First Nations starting this year to hear their perspectives on opportunities to expand iGaming in Alberta in a way that makes sense for our province, its market, and Albertans,” said the spokesperson.

“Alberta’s government is committed to working with all partners to finish developing and implementing Alberta’s online gaming strategy, with a focus on responsible gaming. It is important that any expansion of Alberta’s iGaming strategy is done in a way that makes sense for our unique gaming market and serves the interests of all Albertans.”

The province’s gaming act was last updated in December 2022.

The Alberta Court of Appeal upheld PlayAlberta’s right to exclusively operate last year, but the push from Nally and other proponents for a regulated opening of the industry continues.

Alberta looks to Ontario’s success

The review outlined in the budget seeks to determine how viable an open online gaming market would be for Alberta. A particular focus is on exploring ways of “reducing the regulatory burden on business and finding ways to increase contributions to Alberta charities and community facilities.”

Alberta currently offers online gambling only through its government-owned platform, PlayAlberta, managed by the Alberta Gaming, Liquor and Cannabis Commission (AGLC). That gives legal Alberta online sports betting a similarly monopolised set-up as the one that was in place in Ontario before that province opened its doors to privately operated iGaming providers and sportsbooks in April 2022.

Alberta is the fourth-largest province in Canada by population at around 4.7 million, roughly comparable to U.S. states such as Kentucky and Louisiana. It is also home to numerous sports teams including the Edmonton Oilers and Calgary Flames NHL franchises as well as two CFL teams.

Advocates of a provincial regulated market argue that allowing third-party online gaming and betting within an established legal framework to serve a sizeable audience of betting enthusiasts and sports fans would bring significant revenue for the province. Nally said last month that Alberta’s “low corporate taxes, streamlined regulations, and high disposable income” suit it well to becoming an iGaming destination.

Comparing the existing Ontario open market with a hypothetical Alberta expansion is challenging, not least because there is no guarantee that Wild Rose Country will adopt a similar framework. Ontario’s push for an open gaming market, from advocacy to establishing the regulatory framework, took years before the province ultimately decided not to limit the number of operators who could apply for licensing. That may or may not be the approach Alberta would take.

But it’s easy to understand why Nally and fellow advocates are keeping an eye on Ontario.  The province took nearly $2.5 billion in revenue in its second year and has yielded hundreds of millions of dollars from gaming in tax revenue alone in its first two years. Several companies active in the Ontario market, such as PointsBet and BetMGM, have publicly stated they see a big opportunity in Alberta should it open its doors to third-party operators.

The Alberta budget projected that as things stand with PlayAlberta as the only legal avenue for gaming, net income from gaming, lottery, liquor and cannabis sales in 2024-25 will decline due to a rise in operational expenses from system upgrades and modernization.

Working with First Nations top of mind

It is not surprising he statement from Nally’s office specifically mentions First Nations as a consultation group. The province has long insisted that it will keep indigenous communities front and centre when discussing potential gaming expansion.

Alberta has numerous brick-and-mortar casinos on First Nations land and operated or jointly operated by First Nations, including Bear Hills Casino, Eagle River Casino and River Cree Resort. Ensuring they are an important part of the conversation around expanding the province’s digital gaming market is top of mind.

Alberta Premier Danielle Smith‘s July 2023 mandate letter to Nally emphasized that he must work with indigenous partners to “finish developing and implementing Alberta’s online gaming strategy with a focus on responsible gaming and provincial and indigenous revenue generation.”

The 2024 budget’s wording again makes it clear that one of the key objectives for the ministry is to “work with Indigenous partners and stakeholders to advance the development of an online gaming strategy for Alberta.”

Oddin.gg extends partnership with esports organizer PGL

Oddin.gg has agreed a multi-year deal with esports tournament organizer PGL to remain its data and integrity services provider through 2026.

The company will provide data for PGL’s Dota 2 and Counter-Strike 2 events and this latest agreement comes off the back of PGL Major Copenhagen which was the third-most viewed Counter-strike event of all time.

“At PGL, our core mission is to craft the ultimate esports experience on a global scale. Independence, innovation, and integrity are the pillars we stand on, promoting fairness and sustainability within the esports world,” said PGL CEO Silviu Stroie. “In Oddin.gg, we’ve found an ally that resonates with our ethos, making them the ideal partner as we forge ahead. Our ongoing partnership solidified through a multi-year contract, echoes our mutual commitment to the community of esports.”

The multi-year partnership will encompass a minimum of eight Dota 2 headline events and at least 11 tier 1 Counter-Strike 2 tournaments featuring elite teams competing for prize pools of $1 million or more.

According to Oddin, this latest agreement underscores its ascendancy in the esports official data sphere.

“Our commitment is to affiliate with the premier entities in esports, and PGL stands out as a peak of excellence within the tournament circuit. Their team has masterfully orchestrated the top three most-watched Counter-Strike and the two most-watched Dota 2 tournaments in history, added Oddin.gg Co-founder and Managing Director of Partnerships Marek Suchar. “This partnership is a strategic step towards enhancing the global esports experience, and we eagerly anticipate the groundbreaking advancements PGL will introduce.”

The pair will begin the latest chapter of their partnership with the upcoming Wallachia tournament in May 2024.

Oddin.gg agrees deals to distribute esports contests

Last month Oddin.GG announced it had linked up with Sportradar and as part of the deal Sportradar will offer audiovisual streaming of Oddin’s esports content to its network of more than 900 operators.

The Prague-based firm first entered Canada in the final quarter of 2022 after gaining a betting supplier license from the Alcohol and Gaming Commission of Ontario.

Since then the company has teamed up with Calgary-based online casino platform Lion Gaming to provide an “extensive range of live esports and betting options” to Lion Gaming customers.

NorthStar Gaming, Playtech renew marketing partnership

NorthStar Gaming has announced that it has extended its strategic partnership with Playtech via a renewal of the pair’s existing marketing agreement.

The two companies originally signed a deal in June last year with the main focus on accelerating Toronto-based NorthStar’s player acquisition strategy in Ontario. NorthStar called Playtech’s initial funding of $4 million “a significant driver” of its growth in the province in 2023. Playtech will continue to provide similar marketing services in Ontario, valued at up to $4 million, until October 31, 2024.

NorthStar will compensate Playtech for its contribution through a share of the revenue generated in connection with the marketing initiatives it is helping to fund.

Separately, Playtech has also provided another $3 million worth of short-term financing, the proceeds of which NorthStar says will be used to fund the company’s continued growth as well as for general corporate purposes.

“We are very pleased to continue to strengthen our relationship with Playtech, one of the world’s leading gambling technology companies,” said Michael Moskowitz, Chair and CEO of NorthStar. “Their ongoing support has been instrumental in helping us to acquire new customers, provide a premium online gaming experience, and fund the expansion of our brand in Ontario and across Canada.”

Two parties strengthen union

The partnership between NoerthStar and Playtech has been credited as a factor in both companies’ successes in Ontario in recent months.

In September, UK-based software provider Playtech noted the “significant H1 23 revenue growth” of NorthStar Gaming, after finalizing a $12.3 million strategic investment earlier in 2023. year to expand its partnership. Playtech CEO Mor Weizer said at that time that the company was “excited to see how this grows” as NorthStar accelerates its growth in Ontario and beyond. Playtech’s partners in the Ontario market also include the likes of industry giant FanDuel.

Three months later, NorthStar, which owns and operates casino, sportsbook and media platform NorthStar Bets in Ontario, says it sees Playtech as a key partner.

“They were with us early on, and they’ve invested heavily in our business, love what we’re doing, and love the growth and expansion we’ve seen in the Canadian market,” Moskowitz said in a December earnings call.

More partnerships help NorthStar broaden horizons

NorthStar has also struck deals with other companies in recent months, such as a December agreement with BettorView, which works with bars and restaurants to provide customizable sports and sports betting advertisements within eateries.

Just last month, it teamed up with software provider Tallysight to provide dynamic betting content such as odds widgets and graphics for NorthStar‘s editorial sports and betting content in time for March Madness.

Northstar’s common shares have traded on the TSX Venture Exchange since March last year and it was approved to commence trading in the U.S. on the OTCQB Venture Market in March.

Gateway Casinos seeks to relocate its Innisfil casino

Gateway Casinos is seeking a ministerial zoning order (MZO) to move its Innisfil casino to a new location in the town.

Gateway is hoping to move its Innisfil facility to a recently purchased 25-acre plot at the Innisfil Creek Golf Course from its current location at the Georgian Downs Racetrack.

Due to time constraints on its current lease at Georgian Downs, the operator has an ambitious timeline of obtaining building permits by the end of the year which it won’t be able to do if using the standard planning process.

As a result, Gateway is pursuing an MZO which would expedite this process.

“Gateway has some timing limitations associated with its current lease and in association with their project timelines,” said HMBC Planning partner Jamie Robinson. “Going through a standard planning process — an official plan and zoning bylaw amendment — would not allow them to achieve those timelines.”

Gateway Casinos Executive Vice-President Jagat Nijjar was present at a meeting with the council on April 24 and he confirmed that the planned move was due to the expiring lease, but also a desire to remain in the community.

This was something that was echoed by Innisfil Mayor Lynn Dollin, who hailed the impact of the more than $100 million in revenue the community has received from the casino since it opened in 2018.

“It is a very important part of Innisfil and a way to supply some things that maybe we typically couldn’t afford to give to our residents,” she said. “It’s important to us to keep this opportunity within our borders,” added Dollin.

The casino currently employs 265 people and Nijjar said that the move to the new site would create an additional 200 jobs.

The matter will now be referred to town staff so a report can be created for council’s review and, even if an MZO is granted, additional regulatory approvals would be required before the casino can move locations.

The British Columibia-based company has been renovating or replacing its casinos in recent years and in September last year it began work on a $50 million overhaul of its Gateway Casinos London facility.

BCLC enlists SCCG Management to review gaming operations

The British Columbia Lottery Corporation (BCLC) has signed a contract with SCCG Management that will see the advisory firm review the lottery corporation’s operations.

The advisory company says the partnership aims to undertake “a comprehensive assessment and strategic enhancement” of BCLC’s work, including a study of the corporation’s technological infrastructures, market strategy, and gaming integrations.

Stephen Crystal, founder and CEO of SCCG Management, said in a company statement that the collaboration represents “a remarkable opportunity to push the boundaries of innovation within the gaming industry.”

“We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies,” added Crystal. “It’s an honour to partner with an organization that has a robust impact on the community through its support of public initiatives.”

BCLC declined to comment on the story to Canadian Gaming Business.

BCLC’s PlayNow.com platform is the only legal avenue for online gaming and sports betting in British Columbia and is also used as the online platform provider by the provincial lottery corporations in Manitoba and Saskatchewan after striking deals with first Manitoba Liquor and Lotteries and subsequently the Saskatchewan Indian Gaming Authority (SIGA) and SaskGaming.

Its portfolio of technology partners includes OpenBet, whose omnichannel Player Account Management platform and sports betting technology are used by PlayNow.com in all three of those provinces.

The lottery corp. also offers players in all three provinces access to its slate of player protection safeguards and resources through its flagship responsible gambling program GameSense. That platform has also been adopted by leading third-party operators, including BetMGM.

As well as its digital ventures, BCLC also operates 36 casinos and community gaming centres across British Columbia, including venues under the Chances, Elements, Cascades and Great Canadian Entertainment brands.

BCLC coming off record year

BCLC’s contracted review of its operations is an attempt to build on the record year it reported last September.

The corporation’s 2022/23 Annual Service Plan Report showed a record-breaking net income of $1.64 billion in its first full fiscal year of post-pandemic casino and community gaming centre operations. The rise in revenue was largely attributed to the opening of the new Cascades Casino Delta, Lotto 6/49 game enhancements, continued high Lotto Max jackpot roll patterns, and PlayNow.com’s expansion to Saskatchewan in November 2022.

However, particularly notable with hindsight and in the context of the SCCG partnership is the lottery’s note that the launch of the regulated Ontario market “created challenges for PlayNow.com to continue to maintain its significant market share.”

“This shift has had effects across the Canadian online gambling landscape and resulted in a significant increase in advertising for sites which are licensed in Ontario but operating unregulated in other provinces,” read September’s BCLC report. “This is blurring the line between those sites and provincially regulated gambling sites that create revenue and jobs for their respective provinces. This has caused confusion for players who may be unaware that PlayNow.com is the only legal gambling website in BC.”

CGA applies for intervenor status in international play question

The Canadian Gaming Association (CGA) has announced that it has filed for intervenor status regarding a reference question recently filed by the government of Ontario to the Ontario Court of Appeal regarding the international liquidity of legal gaming in the province.

If approved, the CGA would have the right to intervene and to file evidence in the question, which asks whether daily fantasy sports and online poker in Canada could be expanded while still adhering to the Criminal Code.

On February 2, the Ontario government approved an Order in Council to consider the question of whether such online gaming would remain lawful under the Criminal Code if users could legally participate through parties outside Canada and if not, to what extent.

Currently, players participating in legal online gaming and sports betting in Ontario must be located within the province and all gaming and betting operators used must be licensed in Ontario.

The Order in Council, which has been referred to the Court of Appeal for hearing and consideration, notes that “by permitting players participating in legal online gaming and sports betting to participate in games and betting involving players located outside of Canada, Ontario could channel players away from unlawful gaming and betting schemes operating without any oversight into a lawful alternative that is conducted and managed by the province.”

The Order asserts that doing so could “ensure that the public interest is secured through greater protections for players and the broader public, as well as the generation of revenue for the public purse.”

“It is in the public interest that the issue of whether an online lottery scheme conducted and managed by a province which permits its users to participate in games and sports betting involving players outside of Canada is lawful under the Criminal Code be settled authoritatively as soon as possible,” says the Order.

Depending on the court decision, DFS and online poker operators could feasibly pool Ontario players with other international jurisdictions.

CGA: Reference raises issues ‘of fundamental importance’

The CGA is one of five applicants for intervenor status, alongside the Province of British Columbia; the Canadian Lottery Coalition that is comprised of the British Columbia Lottery Corporation, Alberta Gaming, Liquor & Cannabis, the Manitoba Liquor and Lotteries Corporation, Loto-Québec and the Atlantic Lottery Corporation, the Mohawk Council of Kahnawa:ke, FanDuel and PokerStars owner Flutter Entertainment and NSUS Group Inc., which is the owner of GGPoker.

Intervenor status grants a person or entity that is not party to the legal proceedings the right to participate. Proposed intervenors must show that they have an interest in the proceeding and will make submissions that are both useful and different from the parties’ own submissions, thus providing their own perspective on the issues raised by the parties based on the intervenor’s particular experience and expertise. It is at the court’s discretion to approve or reject intervention applications.

The CGA’s motion to be granted intervenor status will officially be filed on May 1 and hinges on several factors. The association states that the reference raises issues “of fundamental importance” to gaming and betting operators in Ontario, many of which are CGA members.

The association says it can offer “a frontline perspective on how online gaming works in Ontario” including knowledge of the platforms and their functionality and the effect that introducing international play would have on the market. The CGA argues that section 207(1)(a) of the Criminal Code does not preclude international play and that if Ontario were not permitted to expand its borders, “it would frustrate the objectives of the Criminal Code prohibition on gaming, and would frustrate Ontario’s goals of meaningfully regulating the market for gaming.”

The association said in an emailed release that it is happy to support the Attorney General “to ensure that the perspective of the Canadian gaming community is considered so that the court can release a principled decision that benefits the industry.”

There will be a hearing to consider the applications of intervenors including the CGA on May 1. The consideration of the question itself by the Court of Appeal is not set to be heard until late November.

Retired defensive lineman Shawn Lemon indefinitely suspended by CFL

The Canadian Football League (CFL) is suspending a player for violating the league’s gambling policy.

The CFL has handed former Montreal Alouettes defensive lineman Shawn Lemon an indefinite suspension for wagering on league events. An investigation conducted by the CFL found that the University of Akron product wagered on CFL games, including a game he played in during the 2021 season. That year, Lemon played for the Calgary Stampeders.

The CFL’s probe found no impact of Lemon’s wagering on game outcomes.

“The integrity of our game is of the utmost importance,” said CFL Commissioner Randy Ambrosie. “Any other factors, career performance, actions in the community, timing, frequency or size of wagers, hold no weight when the legitimacy of the CFL can be called into question.”

Lemon’s suspension comes after he announced his retirement from football earlier this month. The 35-year-old finished his CFL career with 176 defensive tackles, 18 forced fumbles, two interceptions, and 73 sacks in 104 games played. Lemon also spent time in the CFL as an active member of the Saskatchewan Roughriders and Toronto Argonauts.

“It is our responsibility as a league to investigate and address such abnormalities, and it is our collective duty, along with our teams and players, to ensure that sports wagering in no way impacts the quality nor standing of the CFL,” added Ambrosie. “We will continue to work with our authorized gaming operators, partners, and stakeholders to hold our game to the highest standard.”

CFL solidifies footprint in gambling

The CFL is no stranger to the gambling industry having secured deals with several operators.

Last July, FanDuel secured a deal to become the CFL’s first authorized gaming operator and official sportsbook partner. A month later, the league agreed to a deal with NEO.bet to make the online sportsbook an official partner and authorized gaming operator.

The CFL also landed a partnership deal with 888, which includes stadium advertisements.

PointsBet reports strong growth in Ontario iGaming and sports betting

PointsBet has reported strong year-over-year growth in both online gaming and sports betting in Canada for Q3 2024.

In its Q3 2024 financial update published on April 23, the Australia-based gaming and betting provider showed that its iGaming operations in Ontario‘s regulated market fueled a 53% year-over-year growth in net win.

The company’s net win for online gaming totaled $4.9 million CAD. Since PointsBet’s operations in its home country of Australia consist entirely of sports betting, that sum all came from its Canadian operations in Ontario.

PointsBet’s sports betting net win total was lower, at $3.8 million, but the operator reported that represented a year-over-year Q3 growth of 78%. PointsBet attributed that surge to “improved trading margin and continued gains in promotions efficiency” and also noted that it saw a 12% increase from last quarter in the number of customers who have placed a cash bet in the 12 months preceding the end of the reporting period.

The operator’s total sports betting handle for Q3 was $63.1 million and its gross win was $5.9 million, up 39% and 64%, respectively.

The figures suggest that, while PointsBet continues to make some headway in the crowded Ontario sports betting market, its online casino and table games offerings continue to be a vital component of its business in Ontario.

PointsBet announces second capital return after completion of Fanatics deal

During the period covered by the results, PointsBet completed its integration with Strive Gaming.

Meanwhile, just days after the end of the Q3 reporting period, the last step of the sale of its U.S. arm to Fanatics Betting and Gaming was finalized at the start of April.

This week, PointsBet also announced its second capital return, one of two that had been confirmed at its annual general meeting back in August 2023 with the intention of delivering up to $408 million back to shareholders after the U.S. divesture.

This second capital return totals $113 million, which PointsBet said was based on trading conditions and the process of selling PointsBet US. Combining the second return, which will be paid on May 16, shareholders have received a combined $394 million back.

PointsBet also reported a decline in cost of sales for the quarter and sales and marketing costs for the quarter. Net cash flow was $1.8 million for Q3, which PointsBet said marks the first positive net cash flow in company history and called “another first and important milestone.”

The financial update came just days after it was revealed that the NHL Alumni Association, a marketing partner of PointsBet Canada, is suing the operator for breach of contract. The NHLAA alleges in a lawsuit that the gaming provider cut short a multi-year sponsorship agreement after the Ontario government changed its sports betting advertising rules last year to strictly limit the use of athletes.