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Ontario Teachers’ Pension Plan Board agrees sale of Premier Lotteries Ireland to FDJ

Ownership of the Irish National Lottery looks to be changing hands from Canada to France after Ontario Teachers’ Pension Plan Board announced a ‘definitive agreement’ had been struck to sell its majority shareholding in Premier Lotteries Ireland to La Française des Jeux.

OTPP spent $598.9m on a 20-year licence to operate the franchise back in 2014, but hired Swiss bank UBS earlier this year to advise on its sale.

This follows the recent sales of Camelot UK and Camelot Lottery Solutions to global operator Allwyn as OTPP continues to withdraw from the lottery market.

Now, four months after The Times reported the Canadian pension fund’s desire to sell PLI, Ontario Teachers’ has confirmed a deal with FDJ which will see the French lottery and online gaming operator assume OTPP’s majority stake in PLI, the operator of the Irish National Lottery.

Furthermore, PLI’s other shareholders, An Post and the An Post pension fund, will also sell their minority shareholdings in PLI to FDJ, with the total cost of the deal reported to be in the region of $510.9m, according to the Irish Times.

Vivienne Jupp, Chair of PLI, commented: “PLI has moved from strength to strength since winning the licence for the Irish National Lottery. I would like to thank Ontario Teachers’ and An Post for their support in building PLI into a leading European operator in the period since 2014.

“During that time, the team at PLI has delivered for Good Causes and the community and looks forward to the next chapter of growth, where we will be able to share best practices with FDJ and continue to operate a responsible world-class lottery for the people of Ireland.”

Since being awarded the licence to operate the Irish National Lottery, PLI has raised over $2.7bn for Good Causes, with 2021 and 2022 being the most successful years in that regard.

Iñaki Echave, Senior Managing Director at OTPP, added: “We’re honoured to have partnered with An Post and the PLI team over the last nine years to create an even better lottery for Ireland. We’d like to thank the leadership team and PLI employees for their contribution.

“As long-term investors, we aim to build stronger companies that create value for the communities they serve and PLI has generated record levels of sales and contributions to Good Causes.

“We also care about entrusting the company to the right new owner and believe that a highly reputed international, like-minded lottery company as FDJ is well positioned to help PLI continue its success story.”

The transaction is subject to customary closing conditions and regulatory approval.

iGO welcomes STX as Ontario’s first sports betting exchange platform goes live

STX has officially entered the Ontario igaming market following the launch of its sports betting exchange earlier this week.

The technology company – which states its aim is to ‘transform the regulated sports betting industry’ – teased its introduction in the Canadian province earlier this year, speaking exclusively to Canadian Gaming Business to champion its modern tech stack after receiving AGCO licensing and approval.

STX has now taken the final step in the process, announcing via LinkedIn on Tuesday that a ‘huge milestone’ had been reached following the listing of its app in the App Store, meaning trading can commence.

“Bring it Ontario. Best MLB odds in the market…” said STX in a separate post.

iGaming Ontario (iGO), meanwhile, welcomed STX to the market on Twitter/X on Wednesday.

“Congratulations to STX for joining the Ontario market as the first betting exchange platform in the legal and regulated market.

“STX offers its customers a unique sports betting experience.”

Ontario is the company’s first jurisdiction as it positions itself as the first all-in-one online gaming platform in the regulated North American market.

The platform enables users to determine odds by placing an order on the STX app, with trades only completed once the buyer and seller have agreed on a settled price.

VICI Properties lauds growth of Canadian operations in Q2 results

VICI Properties has published its results for the three-month period ended June 30, paying tribute to the expansion of its international footprint in Canada with Century Casinos.

The specialized casino REIT reported total revenues of $1.18bn (USD$898.2m) in Q2 2023, a year-over-year increase of 35.5% (Q2 2022: $872.8m).

Significantly, the quarter saw the company enter into definitive agreements to acquire four real estate assets from Century Casinos in Alberta – Century Casino & Hotel Edmonton, Century Casino St. Albert, Century Mile Racetrack and Casino, and Century Downs Racetrack and Casino (Calgary).

VICI agreed to acquire the properties from the Century Canada Portfolio for an aggregate purchase price of $221.7m in cash, which included $192.3m to be paid to subsidiaries of Century Casinos and approximately $29.4m to acquire the fee simple real estate interest in Century Downs.

The Century Canadian Portfolio acquisition remains subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2023.

Edward Pitoniak, CEO, VICI Properties, commented: “VICI’s strong second quarter financial performance, exemplified by approximately 36% revenue growth and nearly 12% growth in AFFO per share year-over-year, reflects the impact of our consistent commitment to accretive acquisitions and strategic financings.

“We also ended the quarter with ample liquidity, including $973.4m in cash and cash equivalents, $1.1bn of estimated equity proceeds available upon settlement of forward sale agreements, and $3.1bn of availability under the Revolving Credit Facility. The quarter’s results and current liquidity enable VICI to continue in our pursuit of attractive domestic and international growth opportunities across the experiential landscape.

“In the second quarter, we continued to expand our international presence through the announced acquisition of four casino properties in Alberta, Canada with our existing tenant and partner, Century Casinos. Subsequent to quarter end, we also closed the previously announced acquisition with Century of Rocky Gap, proving the value of our enduring partnerships with growth-minded operators.”

Fortune Coins Casino strikes strategic partnership with Pragmatic Play

Fortune Coins Casino has added Pragmatic Play to its growing list of partners as the social casino continues to drive for growth in the US and Canada.

The Blazesoft subsidiary started its activities in the US in April 2022, garnering more than 1.5 million registered users nationwide before embarking on its journey in Canada earlier this year, which has now taken the organization to more than 2.5 million registered players.

After launching in eight provinces – with Ontario and Quebec notable omissions – Fortune Coins Casino began embarking on a mission to secure strategic partnerships, securing agreements with Relax Gaming, Let Us Entertain You, Booming Games and Fantasma Games before the year had hit its halfway mark.

Now, the firm has connected with igaming content provider Pragmatic Play to provide its players with immersive slots, bingo, and ‘other player-favourite’ gaming opportunities.

Irina Cornides, COO at Pragmatic Play, commented: “We are excited to partner with Blazesoft to take our games live with Fortune Coins Casino, one of the leading social casino platforms in North America.

“This partnership will allow us to bring our award-winning slot and bingo games to a new audience of players. We are confident that our games will complement Fortune Coins’ existing offering and provide their players with a truly immersive gaming experience.”

For Pragmatic Play, the partnership with Fortune Coins Casino helps to accelerate its continued expansion into regulated markets around the world, particularly in North America.

Earlier this year, the provider teamed up with bet365 to make its live casino debut in Ontario, marking Pragmatic Play’s second deal on the continent after also signing a deal to supply NorthStar Gaming with its full portfolio of slot titles last November.

“We are thrilled about the opportunity to strengthen our relationship with Pragmatic Play, one of the world’s most high-profile gaming providers,” added Mickey Blayvas, CEO, Blazesoft.

“Their expertise in delivering top-performing game content, designed to meet player needs, perfectly aligns with our unwavering commitment to offering the best social casino experience for our players.

“In the months to come, Fortune Coins will release dozens of Pragmatic Play’s award-winning games.”

Currently, Fortune Coins Casino hosts over 200 casino-style games, and its latest agreement struck with Pragmatic Play forms part of its objective to launch over 500 games before the end of the year.

AGCO appoints Dave Forestell as new Chair; iGO starts search for successor

The Alcohol and Gaming Commission of Ontario (AGCO) has installed Dave Forestell as new Chair of its Board of Directors, forcing iGaming Ontario (iGO) to find a new Chair of its own.

Forestell served as Chair of iGO for two years, combining the role with his duties as a sitting member of the AGCO board, where he was first appointed in Dec. 2018.

However, Forestell has now stepped down from his role at iGO to focus on his new responsibilities at AGCO, with the search already underway to appoint his successor.

Addressing his new role on Monday, Forestell wrote on LinkedIn: “Thrilled to be taking on this new challenge with the amazing team at the AGCO.”

The new opportunity at AGCO, meanwhile, came about quickly following the sudden resignation of Lalit Aggarwal last Tuesday.

Aggarwal became Chair of the AGCO Board in June 2019 and oversaw the development and implementation of an internet gambling conduct and management structure, as well as the regulatory framework to support Canada’s first open and competitive igaming market in Ontario.

But his exit was announced last week with the AGCO citing his desire to ‘spend time with his family and to focus on his business affairs’.

Heidi Reinhart was immediately promoted from Vice-Chair to Interim Chair but that appointment proved short-lived as just three days later Forestell was appointed as the Ontario Crown agency’s new, permanent chair.

Incidentally, Forestell also serves as Vice President, External Relations (Canada) for TC Energy, and he previously held the roles of Vice President, International Corporate and Commercial Banking and Vice President, Office of the President and CEO at Scotiabank.

VIP Entertainment Technologies handed Canadian remote gaming license by KGC

VIP Entertainment Technologies has regained its ability to offer its igaming services in Canada – excluding Ontario – after the Kahnawake Gaming Commission (KGC) granted the firm a remote gaming license.

The news was confirmed by VIP Entertainment Technologies last Thursday, with the KGC providing further verification by adding the Calgary-based operator to its list of authorized client providers on its website.

VIP began the process to acquire a KGC remote gaming license back in February with the goal of being able to market and acquire new users in Canada, where some of the firm’s earliest and most significant earnings – from 2016 to late 2020 – were developed.

The new licensing enables VIP to deliver its complete suite of services including sports betting, casino, poker and esports wagering as the group increases its core business in the igaming industry, moving itself into a ‘premier entertainment gaming company’.

VIP’s announcement added: “The completion of a Canadian based gaming license is highly anticipated as VIP will immediately increase its user database with a substantial number of users in the company’s key demographic, key jurisdiction and expects to realize significant growth to its player related revenues.”

VIP also recently acquired a UK gaming license, and with the KGC license the firm is able to begin marketing to players in both jurisdictions.

SIGA celebrates record-breaking profits in 2022-23 as revenues return to pre-pandemic levels

The Saskatchewan Indian Gaming Authority (SIGA) has reflected enthusiastically on a financial year that saw the organization post record-breaking profits in 2022-23.

Releasing its Annual Report yesterday, SIGA – the operator of seven First Nation-owned casinos located across Saskatchewan – reported $292.6m in revenue for the year ended Mar. 31, 2023, up 49.4% on the previous year (2021-22: $195.8m) and bringing it in line with pre-pandemic levels.

SIGA also announced that net income had nearly doubled (+87.7%) from $68.2m in 2021-22 to $126m in 2023-23.

These top-line numbers are hugely significant as the non-profit corporation reinvests all net revenue back into the province.

Casino net revenue is redistributed as follows: 50% to the First Nations Trust (which is distributed to the 74 First Nations in the province), 25% to Community Development Corporations (CDCs) which reinvests the money back into local community initiatives, and 25% to the provincial General Revenue Fund.

“SIGA continues to be a major driver in the province, strengthening the lives of First Nation people through employment, economic growth, positive community relations and financial self-reliance,” said Federation of Sovereign Indigenous Nations (FSIN) Chief Bobby Cameron.

SIGA also operates PlayNow.com – the first legal online gaming and sports betting site in Saskatchewan – which launched on Nov. 3, 2022. This was an historic landmark as SIGA became the only First Nations-owned company to have a 50-50 sharing agreement for online gaming revenue in Canada.

Since the initial launch, PlayNow.com has acquired over 15,000 clients, and was profitable in its first fiscal year of operation, attracting $113m in online slot wagers and $50m in slot spins.

In November and December alone – the website’s first two months of operations – PlayNow.com generated $31.8m from wagering as a clear distinction was made between the popularity of its online casino and sports betting divisions, with $30.6m and $1.6m wagered respectively.

SIGA’s next focus for PlayNow is to develop its customer base through enhanced marketing capabilities and partnerships with other gaming stakeholders in Saskatchewan.

Zane Hansen, SIGA President and CEO, said: “This past year was an important time of recovery for SIGA from the pandemic, as we launched PlayNow.com in Saskatchewan and kept a steady focus on ‘Building Back’ our most critical resources – our markets, our employees, and our finances.

“SIGA’s efforts were rewarded as a return of revenues to pre-pandemic levels, combined with operational efficiencies, resulted in record-breaking earnings for SIGA.”

SIGA also shared several gaming operations highlights from the 2022-23 fiscal year, naming the Casino Management System upgrade as a ‘major’ one, while last year saw the return of the gaming replenishment program after two years prior of not purchasing new gaming products. The new product started to arrive in the late summer, and the new slot machines being installed during the last half of the fiscal year resulted in record-setting revenues for the previous two quarters.

Meanwhile, a breakdown of its seven casinos in the province offered a glimpse into how each has developed in the past year.

  • Dakota Dunes Casino – situated on Whitecap Dakota First Nation – recorded the highest net revenue ($43.7m) in SIGA last year, aided by a record-breaking month of slot revenue ($7.6m) in March 2023. The casino also paid out 4875 jackpots with a value of $24.9m.
  • Bear Claw Casino – located on the White Bear First Nation – paid out $12.3m in jackpots and achieved a record revenue of ‘just over’ $2m.
  • Mosquito First Nation’s Gold Eagle Casino paid out $19.3m in jackpots in its 27th year of business.
  • Gold Horse Casino – a Little Pine First Nation – paid out $17.7m in jackpots and had a record net income of $5.8m in its fourth year of operation.
  • Nekaneet First Nation’s Living Sky Casino paid out over $11m in jackpots and hosted eight entertainment events during 2022-23.
  • Northern Light Casino (Peter Ballantyne Cree Nation) paid out $28.4m in jackpots and had a net income of $40.6m – 48% above target.
  • Painted Hand Casino (Kahkewistahaw First Nation) paid out $7.9m in jackpots, while its net income ($12.2m) and overall revenue ($28.1m) were 61% and 13% above target, respectively.

SIGA’s quest to maintain best responsible gaming (RG) practices has seen four of its casinos (Dakota Dunes Casino, Gold Horse Casino, Living Sky Casino, and Northern Lights Casino) achieve their RG Check Accreditation from the Responsible Gambling Council of Canada.

The remaining three SIGA Casinos (Bear Claw Casino and Hotel, Gold Eagle Casino, and Painted Hand Casino) will be undergoing their accreditation process in 2023-2024.

SIGA further noted that, through its Community Investments Program, the organization invested $1.3m into sponsorships of hundreds of community events and programming throughout the province in 2022-23.

Looking ahead, Hansen added: “In 2023-24, there will be a significant shift in how the province oversees gaming. The launch of Lotteries & Gaming Saskatchewan (LGS) now carries out the managerial oversight of all forms of gaming – replacing roles previously carried out by three separate government ministries.

“This next year, we also anticipate a dynamic industry environment with elements of change, risk, and opportunity. We finalized a new Strategic Plan with a five year road map for SIGA.

“Our business plan for 2023-24 is structured around pillars that will best position SIGA to meet new challenges and move forward in a new environment. SIGA is now focused on making smart future investments in its employees, casino facilities, marketing, and reinvesting back into the communities where we operate.”

AGCO names Heidi Reinhart Interim Chair after Lalit Aggarwal exit

Heidi Reinhart has been confirmed as Interim Chair of the Alcohol and Gaming Commission of Ontario (AGCO) after Chair Lalit Aggarwal announced his resignation.

Aggarwal became Chair of the AGCO Board in June 2019 and over the course of his four-year tenure instilled enhanced governance practices and structures at the Ontario Crown agency, including the formation of sub-committees and the AGCO’s subsidiary, iGaming Ontario (iGO).

Significantly, Aggarwal was Chair throughout the pandemic, as the organization battled through the most turbulent period in the industry’s history. During this time he oversaw many regulatory changes made to support the alcohol, horse racing, gambling, and cannabis industries to mitigate the pandemic’s negative economic impacts.

He also oversaw the development and implementation of an internet gambling conduct and management structure, as well as the regulatory framework to support Canada’s first open and competitive igamingpp market in Ontario.

Aggarwal has now called time on his tenure as AGCO Chair, citing a desire to spend more time with his family and to ‘focus on his business affairs’.

Describing Aggarwal as a “strong and values-based leader”, the AGCO said: “The AGCO extends its sincere gratitude to Lalit for his years of strong and principled leadership and wishes him the very best in all of his endeavors.”

In light of Aggarwal’s departure, the AGCO has promoted Reinhart – who joined the Board in Oct. 2020 – from Vice-Chair, a position she started in Sept. 2021.

iGO: Ontario igaming market hits $14bn in Q1 wagers as casino games reign supreme

iGaming Ontario (iGO) has published its first set of figures from the first quarter of the 2023-24 fiscal year, reporting an all-time high of $14bn in wagers.

Previously, the quarterly record stood at $13.9bn, set in Q4 FY22-23, but the $14bn mark was officially breached in the period April 1 – June 30.

Casino games, including slots, live and computer-based table games and peer-to-peer bingo, made up nearly $11.6bn (83%) of this figure, and contributed $392m (72%) of the $545m gaming revenue recorded in the period, which was up $19m (3.6%) on Q4.

Betting, including on sports, esports, as well as proposition and novelty bets, ranked second with total wagers of $2bn (14%) and gaming revenue of $138m (25%).

Peer-to-peer (P2P) poker, meanwhile, made up the rest of the numbers, accounting for $350m (3%) of total wagers and $15m (3%) of gaming revenue.

Last year, casino games accounted for nearly $28bn (78%) of total wagers and $940m (67%) of gaming revenue, while betting made up $7bn (20%) of total wagers and $433m (31%) of gaming revenue, and P2P poker $992m (3%) and $40m (3%), respectively.

iGO’s report also detailed that there were 920,000 active player accounts in Q1 with an average monthly spend per account of $197, compared to 1.01 million and $174 in Q4.

The number of gaming websites also decreased between April 1 and June 30, from 75 in Q4 to 71, but the number of operators active in the period increased by two, to 46.

Last month, iGO released a report compiled by Deloitte on the economic impact the industry has had on the province since regulation in April last year, with $1.54bn brought to Ontario.

This, reportedly, included $900m in the form of wages, with nearly 12,000 jobs created by the industry.

Evolution & BCLC launch new high-limit live dealer tables in Canada

The British Columbia Lottery Corporation (BCLC) has called on the services of Evolution to launch two new high-limit live casino tables for online players in three Canadian provinces.

VIP Blackjack and VIP Baccarat are now streaming live from Evolution’s Vancouver studio for players in British Columbia, Manitoba and Saskatchewan as the B2B solution provider for casino operators and Canadian Crown corporation continue a relationship spanning more than five years.

One of the most recent collaborations between Evolution and BCLC was the launch of Mega Ball in March, which marked the game’s debut in North America.

Commenting on this latest deal, Jeff Millar, Evolution’s Chief Commercial Officer of North America, said: “Our initial agreement with BCLC, over five years ago now, was instrumental in Evolution creating its Canadian live casino studio –  our first major expansion outside of Europe back in 2018. Since then our relationship with BCLC has gone from strength to strength.

“We are proud to launch these new VIP tables and confident that VIP players will be attracted by this premium online gaming experience.”

The two new tables join the existing line-up of Evolution-powered live casino games and live game shows on BCLC’s PlayNow.com lottery, casino, sports, poker, bingo, and instants platform.

As with Evolution VIP tables in other markets, the high-limit games include features such as higher minimum bets.