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RubyPlay names NorthStar Gaming as latest Ontario operator partner

Malta-based iGaming supplier RubyPlay has partnered with NorthStar Gaming to roll out games on the Canadian operator’s casino platform in Ontario.

NorthStar has added a selection of RubyPlay’s most popular titles, as well as content from the supplier’s subsidiary studio Koala Games.

“RubyPlay’s studios consistently deliver high-performing, distinctive titles, and we’re excited to bring these experiences to our Canadian players,” said NorthStar Gaming VP of Product Dean MacNeil.

“Integrating content from both RubyPlay and Koala Games strengthens our portfolio and enhances the variety we can provide to our customers. This partnership supports our mission to deliver a premium, localised, and fully regulated gaming experience for players across Ontario.”

RubyPlay Chief Product Officer Dr. Eyal Loz said NorthStar “continues to set the standard for premium, locally tailored entertainment.”

“Through our multi-studio ecosystem, we’re able to provide a deeper and more diverse range of content, and respond faster to operator needs, allowing us to reach an even wider audience across the province,” he added.

RubyPlay a new entrant to Ontario

RubyPlay only entered the Ontario iGaming market this spring after being approved for a license by the Alcohol and Gaming Commission of Ontario (AGCO) in February. That green light from the AGCO came just months after the supplier launched for the first time in some U.S. online casino states.

The slot-focused provider has games live with multiple operator brands in North America, including in Ontario with the likes of another Canadian operator, PENN Entertainment-owned theScore Bet.

In the U.S., it works with the likes of FanDuel, BetMGM, BetRivers and Hard Rock Bet in New Jersey and recently partnered with Ocean Casino Resort’s betOcean online platform.

RubyPlay intends to continue to expand on the continent.

NorthStar CEO and Chair exits abruptly

Meanwhile, there was big news out of NorthStar Gaming on Monday as the company announced that CEO, Chair and Founding Partner Michael Moskowitz has left the company after four years as CEO.

No reasoning was given for Moskowitz’s departure.

In his place, Co-Founder, Chief Development Officer and General Counsel Corey Goodman will serve as interim CEO, while Dean MacDonald, a board member since 2023, has been appointed as chair.

Senate Bill S-241 restarts First Nations gaming rights discussion

The topic of First Nations‘ rights to run their own gaming operations has hit the Senate again via the latest version of the Act to Amend the Criminal Code and the Indian Act.

Sen. Scott Tannas’ S-241 seeks to amend the Criminal Code to affirm that the governing body of a First Nation has exclusive authority to conduct and manage and/or license gaming (termed under the Code as “a lottery scheme”) on its lands. It would also alter the Indian Act to allow the First Nation to regulate such gaming.

“Simply put, the bill affirms First Nations governments’ jurisdiction and power to govern gambling activities on their reserve lands and does so in a way that matches identically provincial jurisdiction and powers in their respective jurisdictions,” Tannas said at the bill’s second reading on Dec. 2.

A First Nation would be required to notify the federal and relevant provincial governments that it intends to conduct and manage gaming “from or within” its reserve, but would not need to seek governmental approval before doing so.

A revived effort, with more input

S-241 is the new incarnation of S-268, which was introduced in 2023 but never progressed beyond the committee stage in the Senate. During its consideration, the Standing Senate Committee on Indigenous Peoples was authorized to examine and report on the subject matter of the bill and provide input.

At the reading last week, Tannas noted that the Indigenous committee held five meetings on S-268 and heard from 16 witnesses.

“Since the introduction of [S-268], we’ve had an enormous amount of response from First Nations communities, both to me and in support of the bill,” Tannas told the chamber. “We have a good start on the study of this particular subject, but there is a lot that remains to be explored at committee.”

Bringing First Nations to the table

Since those talks on the previous version of the bill, 15 First Nations have signed a memorandum of understanding in support of the legislation. Tannas called that “a great start.”

One First Nation body, the Mohawk Council of Kahnawà:ke (MCK), opposed S-268, citing concerns that it may do more harm than good and suggesting that the government has no right to weigh in on the MCK’s gaming authority. However, it supports the new version after further consultations.

Quebec-based MCK previously challenged iGaming Ontario’s regulated iGaming model in court, calling it “illegal and unconstitutional,” and ceased operating its Mohawk Online Limited in the province as part of its opposition. That challenge was dismissed in May 2024 by the Ontario Superior Court.

Talks with provinces underway

Tannas asserted that while successive generations of First Nations have been assured that the federal government is working toward recognizing their rights and jurisdiction of gaming on reserve lands, “it has become clear that nothing is happening.”

“Why is that, in this era of reconciliation?” he asked. “I suspect the real reason is because it’s hard, because doing what’s right will cost somebody who previously had a monopoly to have that monopoly removed and to face competition and innovation and to, ultimately, see less revenue than when they had a monopoly. This is what real economic reconciliation looks like.”

During readings of S-268, Tannas said he had not consulted with any provincial governments when drafting that bill. He said he has since held some “initial conversations with certain premiers” about the legislation.

The senator acknowledged that provinces may be concerned about losing money from their own pockets, but suggested that the broader recognition of the importance of Indigenous reconciliation means that some provinces would be less opposed than they may have been a few years ago.

“Indigenous gaming has been subject to provincial control, to whatever whim the province has had or ideas that the province has had about what’s fair, with no leverage on behalf of Indigenous governments to negotiate,” Tannas told the chamber. “They are takers. They can only be takers because the monopoly rests with the province. This bill seeks to level the playing field.”

Provinces would get the chance to have their say in Parliament on the new version of the bill if it reaches the Committee on Legal and Constitutional Affairs, which the previous iteration did not.

One step on a long road

In response to questions from fellow senators, Tannas admitted that there are numerous political, financial and logistical elements involved with the bill’s proposal. Even though this is the second iteration of this bill, there is a long way to go and a great deal of discussion still to be had.

Even if the bill were to become law, what would happen next is its own question.

Tannas suggested that First Nations could choose to still negotiate with provinces to stay under provincial jurisdiction. Another avenue could be to join a self-regulating authority for their own gaming operations.

“Those are questions best answered by Indigenous governments,” he noted. “But, before we can do that, they need the ability to take these matters under their control.”

NorthStar Gaming CEO and Chair Michael Moskowitz leaves roles

Canadian gaming operator NorthStar Gaming announced on Monday that CEO, Chair and Founding Partner Michael Moskowitz has left the company.

In a short statement, the company said that Moskowitz is no longer its chief executive or the chair of its board of directors. The former CEO and Chair of Panasonic North America had been NorthStar CEO since 2021 and led the company through the launch of NorthStar Bets in Ontario’s regulated iGaming market in 2022.

No reasoning was given for Moskowitz’s departure. In his place, Co-Founder, Chief Development Officer and General Counsel Corey Goodman will serve as interim CEO, while Dean MacDonald, a board member since 2023, has been appointed as chair.

NorthStar noted that Goodman has extensive experience in online gaming, operational realignment, corporate restructuring and capital markets.

“Mr. Goodman has been an essential contributor since the founding of the Company,” said MacDonald. “The Board has full confidence in his leadership and his deep knowledge of our business. His balanced and disciplined approach will help ensure continuity while we focus on strengthening performance and positioning NorthStar for long-term growth.”

Moskowitz isn’t the only departure. Director Barry Shafran has resigned from the board, having previously served as chair of the Audit Committee.

NorthStar will announce a new independent director and a new Audit Committee chair once the board has finalized its selection.

NorthStar warned of liquidity and debt risk

NorthStar Gaming owns and operates the NorthStar Bets casino and sportsbook platform. Outside of Canada’s only regulated commercial iGaming province of Ontario, it provides managed services to the NorthStarBets.com iGaming site owned and operated by the Conseil des Abénakis de Wôlinak and licensed by the Kahnawake Gaming Commission.

NorthStar reported at the end of November that it made a profit before marketing expenses of $0.2 million in Q3 2025 compared to a loss of half a million in the same quarter last year. Its revenue and gross margin ticked up slightly in the quarter of the calendar year, and for the nine months ended Sept. 30, revenue is 17% ahead of 2024 at $23.3 million.

However, it continues to operate at a significant net loss. It posted a net loss of $4.1 million for Q3, up from $3.7 million this time last year. For the nine months ended Sept. 30, the net loss was $13.7 million, although that was a small improvement compared to $15.6 million during the same period in 2024.

That financial update included a warning that current forecasts suggest that the company’s cash flow and liquidity position may not be enough to fund its operating and marketing expenses while also meeting all of its debt agreements. It warned that there is a risk that the company could breach certain debt-related requirements, and that the firm may need to make operational adjustments or take on additional debt or equity financing.

Perhaps reflecting that, NorthStar said in its leadership change announcement that Goodman will work closely with the board to guide the company’s work to refine its cost structure, enhance operational discipline and drive improvement efforts in respect of both revenue and profitability.

Focusing on high-value players and rest of Canada

As CEO and Chair, Moskowitz said last month that the operator has adjusted its strategy to focus on prudently spending to attract high-value and VIP players, who drive a disproportionate amount of the company’s revenue.

He also had his eyes firmly on making an impact in Alberta, which is expected to launch regulated iGaming sometime in 2026. Moskowitz said in August that a regulated Alberta market was “the key attribute” for NorthStar’s hopes for growth outside Ontario.

The hidden edge: How smarter payments drive player trust and retention

As the gaming industry is continuously growing, processing payments has turned from a burden to be sorted to a competitive edge for operators that do it right.

With over a decade of experience in the Canadian market, Cliff Nywening, COO of Gigadat, looks into the challenges and opportunities payments hold and tells Canadian Gaming Business how they are now the core driver of trust, retention, and brand reputation.

In gaming and betting, trust isn’t built on odds. It’s built on outcomes, especially when money moves.

A deposit that hits instantly? Trust earned.

A payout that lands without question? Loyalty won.

A delay, a freeze, or a fraud alert at the wrong time? Game over.

For all the innovation in the gaming space, payments are still where reputations are made or lost. And as fraud tactics evolve and players’ patience shrinks, the smartest operators are starting to treat payments not as a cost centre, but as a competitive edge.

Friction: The Silent Player Dropper

Every extra second during checkout increases the chances of losing a player, and in a market where acquisition costs run high and retention drives real value, the smallest bit of friction carries a measurable cost. That’s why leading operators now treat payments as a core part of the user experience rather than just backend logistics.

A seamless deposit can inspire confidence faster than any bonus offer, and a fast, clean withdrawal feels like a win on its own. In Canada, INTERAC® has become a trusted method that can become a retention asset, as players find it familiar and reliable; two qualities they value even more than speed.

Fraud: The old foe, new tricks

Fraud in iGaming has never stood still. Synthetic IDs, account takeovers, and bonus abuse keep the industry in a constant cat-and-mouse cycle. But now, the technology behind prevention has finally caught up to the creativity of the fraudsters.

Real-time signals are beginning to replace the old world of static fraud checks. Even incremental data points (timing, frequency, repeat attempts) can reveal patterns that traditional verification often misses.

Gigadat is evolving how it layers real-time insights into INTERAC® transactions to strengthen fraud defences while maintaining a seamless player experience. Earlier identification of unusual patterns allows trusted payments to move smoothly and helps ensure that questionable activity is flagged and contained before it becomes an issue.

Retention: The new revenue strategy

Player loyalty doesn’t come from flashier odds or bigger bonuses anymore; it comes from confidence. When payments work, they don’t think about them. And they won’t forget when they don’t.

Smarter payment design (instant confirmations, transparent fees, simple reversals) turns a transactional moment into a trust moment.

In a crowded industry where acquisition is expensive and regulation is rising, that kind of trust is the new currency.

Compliance: From burden to differentiator

While “compliance” used to make operators groan, it has become part of the brand story in 2025. Players want confidence that their data is secure, regulators expect traceability without adding friction, and banks demand clean, verifiable payment rails.

The real innovation now lies in embedding compliance directly into the payment itself, allowing KYC, AML, and reporting to get processed cleanly and unnoticed. When compliance becomes seamless, payments stop being an obstacle and start becoming a competitive advantage.

The big shift: Payments as product

For years, iGaming conversations revolved around product: games, markets, jackpots, and UX.

Now, payments are the product.

They decide how trusted your brand feels, how often players return, and how smoothly you scale into new markets.

That’s why Gigadat has spent the last decade designing payment systems that aren’t just fast; they’re invisible, compliant, and distinctly Canadian in their reliability.

Because when players don’t have to think about payments, that’s when you know you got it right.

In conclusion? 

Fraud prevention and retention used to be different departments.

Now, they share the same heartbeat: smarter payments.

Get those right, and you don’t just move money; you move the entire player experience.

BC’s Hastings Racecourse shuts after government funding announcement

Days after the B.C. government announced it would no longer dedicate a portion of slot machine revenue to Hastings Racecourse, the province’s last operational horse track announced it is shutting down racing.

In a statement posted on Friday, Dec. 5, Hastings Racecourse & Casino said that all thoroughbred horse racing at the facility would end, effective immediately. There are currently no horses stabled at Great Canadian Entertainment-operated Hastings as thoroughbred racing runs from April to October.

“This was an extremely difficult decision, especially given the historical legacy of Hastings Racecourse in the local community and its importance to the province’s racing industry,” said Great Canadian Regional Vice President Wayne Odegard.

“Unfortunately, this is strictly a business decision based on a lack of economic feasibility to move forward with another season of horse racing at Hastings. We are incredibly thankful for our dedicated team members, racing participants and fan base for their support and patronage for so many years. Our focus moving forward will be supporting our impacted team members through this transition, as well as racing participants as they assess their options for thoroughbred racing in the province in the future.”

The Hastings Park area is speculated to be the most likely spot for the City of Vancouver to build a new soccer-specific stadium for Major League Soccer’s Vancouver Whitecaps and Canadian national team games.

Great Canadian offered no further comment to Canadian Gaming Business.

Great Canadian selling Hastings casino ops to First Nation

Hastings said that the casino operations at the site will not be impacted by this decision, nor will the simulcast racebook at the facility.

Great Canadian is selling those Hastings casino operations and the casino real estate to the Tsleil-Waututh Nation in a deal that was confirmed in November. The casino operator first announced back in June that the two parties had entered a non-binding Memorandum of Understanding for the deal, and initial talks had presumably been underway for some time before then. and have now formalized it.

The acquisition does not include the now-shuttered racecourse or racing operations.

Great Canadian told Canadian Gaming Business at the time of the government’s Hastings announcement that the decision to halt slots revenue funding is not expected to impact the transaction, which is yet to be completed.

Horse racing ‘not sustainable,’ said government

The race track at Hastings has been in operation for well over a century, first hosting racing in the late 19th century. It was the last remaining active horse racecourse in B.C. after Fraser Downs in Surrey closed suddenly this summer when the city terminated the lease agreement.

Odegard’s reference to a lack of economic feasibility comes just days after B.C. Solicitor General and Minister of Public Safety Nina Krieger revealed that the government would not only decline to provide any additional funding for horse racing but also stop dedicating a portion of slot machine revenues to the Racecourse on Jan. 31, 2026.

Krieger wrote that a government review found “significant financial sustainability concerns” around B.C. horse racing despite revitalization efforts. She added that even with government investment from casino-generated revenue, the B.C. horse racing industry is not sustainable because of a range of factors, primarily declining revenues and public participation and attendance at racing events.

As reported by the Canadian Press, the Horsemen’s Benevolent and Protective Association of B.C. said in a statement that the government funding cut at short notice undermined the foundation of the thoroughbred racing industry. Its president, David Milburn, told CBC that the decision to close Hastings “is, in our view, a direct result of the government taking away our share of the slot machine revenue.”

The portion of slot machine revenue from Hastings Casino and Elements Casino Surrey dedicated to horse racing, currently believed to be 25% of the total and to equate to around $8 million to $10 million, will instead be reallocated under the British Columbia Lottery Corporation’s (BCLC) general revenue and used for public services like healthcare and education from February onwards.

Loto-Québec to open new gaming hall by mid-2027

Loto-Québec will open a new gaming hall in the city of Saguenay in 2027, a project that it said will transform the site of the Delta Hotel and the adjacent convention centre into an entertainment and tourism hub.

The new venue, slated to open within 18 months in the Saguenay arrondissement of Jonquière (pictured), will offer a range of gaming, entertainment, hospitality and other amenities.

Gaming lounges like this one are smaller-scale than full-blown casinos, typically offering video lottery terminals, interactive casino games, live entertainment and bar service.

The centre will be the fourth of its kind, alongside similar facilities in Trois-Rivières, Québec City and Rimouski.

“We are proud to present this project in Saguenay, a dynamic region known for its welcoming character and development potential,” said Loto-Québec President and CEO Jean-François Bergeron. “The gaming hall will generate positive spin-offs for the community, notably through job creation and tourism spending, as well as the business partnerships that will be developed.”

Loto-Québec stressed that it will continue to work closely with the provincial Public Health agency and take any concerns into account. It added that when it opened similar halls in  as it has always done for each of its projects. It is important to remember that, during the establishment of the gaming halls in Trois-Rivières and Québec City, “the initial concerns were not substantiated once the establishments were operational.”

“Our priority remains to offer an environment where gambling is supervised responsibly and safely, which promotes lower-risk gambling. Our teams are trained to support customers, and the establishment will benefit from state-of-the-art security systems.”

Casino business drives Loto-Québec revenue

The casino and gaming halls sector is a key part of Loto-Québec’s business. The crown corporation reported in September that not only was that segment the largest revenue contributor for the second quarter of the calendar year, but also the one that grew the most year over year.

While the lottery’s total revenues increased 11.1% annually to $766.5 million in the three months from April 1 to June 20, 2025, casino and gaming hall revenues jumped 17.6% to $323.4 million. Loto-Québec noted that during that quarter, it bolstered those land-based offerings bny adding new table games in gaming lounges and other new products like an inter-location progressive poker jackpot

In contrast, the crown corporation’s lottery revenue for that quarter was $236.3 million, up 7.8%, and the gaming establishment sector encompassing sports betting, VLTs in bars and bingo and Kinzo halls recorded revenues of $212.2 million, up 5.7%.

Since that latest quarterly update, Loto-Québec announced that it selected Scientific Games to power an advanced central gaming system that will place retail, digital and operational solutions under one umbrella. Scientific Games’ Momentum will replace Loto-Québec’s legacy gaming system.

The company and the crown corporation already work together in several ways, including on scratch games and self-service retail gaming terminals.

BC overhauling gambling oversight, creating new regulator

The British Columbia government will make some major changes in the coming months to how it regulates gambling in the province, with the primary aim of cracking down on money laundering and other gaming-related fraud.

The Ministry of Public Safety and Solicitor General said in a statement that the new version of the Gaming Control Act, which passed recently, will create a new independent gambling regulatory body, split off from the Ministry’s Gaming Policy and Enforcement Branch (GPEB).

The new Independent Gambling Control Office (IGCO) will be charged with establishing “a standards-based regulatory model” for all land-based and online gaming in the province, including BCLC’s physical and digital gambling operations as well as charitable gambling and horse racing.

Both the Gaming Control Act and the IGCO will take effect on April 13, 2026.

A tighter fist

Minister and Solicitor General Nina Krieger said the new regulations give the Independent Gambling Control Office the powers to “more effectively address criminal activity.”

The Gaming Control Act is largely built on recommendations made within two investigative reports, the Dirty Money report of 2018 and the Cullen Commission’s inquiry into money laundering four years later. The act initially passed in fall 2022, after the second of those two reports.

Ultimately, the goal is to better equip the province to detect and prevent criminal gambling activity such as money laundering in casinos and online. The government noted that the reports identified “weaknesses in B.C.’s regulatory framework that hindered an effective response to money laundering.”

The updated act is also intended to address other issues, like problem gambling and the evolution of B.C.’s gambling industry into a more digital-first sector in recent years.

The recommendations from the two reports included not only setting up a new independent gambling regulator but also “clarifying the roles and responsibilities between the regulator and BCLC.” Money laundering will be the responsibility of the regulator and its new general manager. The IGCO will be able to issue directives to BCLC without needing to seek the consent of the ministry.

Canadian Gaming Business reached out to BCLC and was told only that BCLC is currently reviewing the regulations and will work with the government as it begins implementing them.

BCLC sued FINTRAC over AML fine

The announcement of the changes came amid BCLC’s active litigation against Canada’s federal anti-money laundering and anti-terrorism watchdog, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

After FINTRAC fined BCLC more than $1 million for multiple alleged AML violations, the crown corporation claimed it was “ambushed” by the federal body.

FINTRAC accused BCLC of three counts of non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations for allegedly failing to report suspicious transactions, to develop and apply policies and procedures for high-risk clients or to take special measures for high-risk clients.

BCLC stressed in its court appeal against the fine that both its own monitoring and examination policies and those of the GPEB “found nothing unusual or suspicious about the patron’s activities that warranted further investigation.” The lottery emphasized that FINTRAC’s findings do not include allegations of any criminal offence.

Check the price

Meanwhile, noting that the provincial gambling industry’s fee structure had not been updated in more than 15 years, the new Gaming Control Act will also start charging more to take part in gaming, increases the government said are based on inflation and how much it costs to regulate gaming these days.

Brand new fee classes will be added to reflect the expansion of BCLC’s online gambling platform, PlayNow.com, currently the only government-approved iGaming platform in the province. Meanwhile, fees for gaming facilities and charitable gaming events will soon be based on revenue, instead of a flat fee that was determined by the number of slot machines in a facility, and service providers such as gaming suppliers will also face higher costs.

The government said it consulted with industry stakeholders on the price hikes.

BC horse racing hits hurdle

This isn’t the only piece of news B.C.’s Solicitor General has brought to the province’s gaming industry in the last week.

Krieger informed the horse racing sector at the end of November that the provincial government will stop giving a cut of slot machine revenue to the province’s last operating horse track, Vancouver’s Hastings Racecourse, on Jan. 31, 2026. Krieger said that neither dedicating that revenue nor providing additional funding for B.C. horse racing is financially viable.

Krieger added that the government has determined that even with government investment from casino-generated revenue, the B.C. horse racing industry is not sustainable because of a range of factors, primarily declining revenues and public participation and attendance at racing events.

Betty names ex-Playtech product director as new Group CPO

Online casino brand Betty has appointed veteran Playtech product leader Yotam Yogev as its new Group Chief Product Officer as it continues to plan for expansion beyond Ontario.

Yogev joins Betty from Playtech after nearly two decades at the latter company. He rose from a customer success staffer to become director of product – PAM at the London-based gaming supplier.

“Leaving a company like Playtech after nearly two decades was not an easy decision,” wrote Yogev on LinkedIn. “I decided it was time to challenge and push myself again in a completely new environment. That’s why I’ve joined the team at Betty.

“Moving from a global corporate powerhouse to a fast-growing startup is exactly the kind of energy boost I was looking for. I’m bringing 16 years of experience with me while embracing a Day 1 mindset to help Betty scale and break new ground.”

Betty added in a statement that Yotam will lead and shape the company’s new group ventures beyond Betty Canada.

“We couldn’t be more thrilled to have Yotam at the helm, guiding the evolution of our new ventures and building product strategies and partnerships that reach far beyond the spin.”

Betty looks to broaden horizons

Yogev will be tasked with leading Betty’s product development under Group CEO Justin Park and Co-Founder Chavdar Dimitrov.

The slots-focused operator announced at the start of 2025 that it would split off its Ontario business, previously its sole focus, as the first of a number of new franchises under the group umbrella. Dimitrov was installed as Betty Canada CEO and Park namechecked Betty USA and Betty LatAm as “exciting opportunities for future growth.”

The intention is for each franchised partnership to have its own brand, technology, user acquisition process, operating playbook, startup capital and CEO and local team. Yogev’s title as Group CPO would imply that his responsibilities will span all current and future operations.

Park also said at that time in January that while Betty would siphon revenue from the fully-owned franchises’ own gaming revenues and generate licensing fees from third-party franchises, it also aims to develop its own games for licensing.

Betty breaks through in Ontario

Meanwhile, on the Canadian front, a shareholder update in late October divulged that Betty Canada had its first EBITDA-positive quarter for the three months ended Sept. 30. Cumulative net revenue rose 39% quarter-over-quarter to around $82.4 million and total profit exceeded $2 million.

Park said at that time that “we may have had a breakthrough on brand” after a period that included signing a landmark sponsorship deal with Maple Leaf Sports and Entertainment (MLSE) in June to become an official online casino partner of the Toronto Maple Leafs and Toronto Raptors.

In an interview with Canadian Gaming Business later that month, Dimitrov said that one of Betty’s immediate aims, as well as expansion outside Canada, is to be the number one in online slots in Ontario. The operator also intends to launch in Alberta whenever that market opens up for regulated iGaming.

Rivalry highlights Ontario growth as net loss shrinks

Toronto-headquartered gaming and esports company Rivalry picked out its growth in Ontario as a highlight of its financial performance last quarter.

Reporting a third consecutive quarter of revenue growth in its results for the three months ended Sept. 30, in which its operating expenses fell 58% and net loss improved by 67% year over year, the firm said that its operations in Ontario’s regulated market achieved their best quarter ever across all core KPIs.

While the company did not offer any further details on its Ontario-specific numbers, it did disclose that over the last 12 months, Ontario has grown from representing under 20% of the company’s net revenue to close to 40% in Q3 2025. The province continues to grow as a share of the business.

Overall, Rivalry’s net revenue reached $1.93m in Q3 2025, rising from $1.6m in Q2 and $1.3m in Q1. The company noted that equates to 47% since the start of the year. However, operating expenses are still nearly double revenue, despite falling from $8.47 million to $3.52 million year over year. Its net loss is just under $2 million, although that is a considerable improvement in the $5.89 million it was in Q3 2024.

Rebrand and revamp paying off, says Rivalry

Rivalry offers online casino and online sports betting under iGaming Ontario’s oversight, and is also a licensed gaming operator in jurisdictions including Australia and the Isle of Man. It says it is in the process of obtaining additional country licenses.

The company has undergone a significant shift in recent times, revamping its product, strategy, cost base and operational structure and conducting several rounds of layoffs throughout the process. The changes, which included a rebuilt loyalty program, new promotions and various other user experience upgrades, broadly reflected an increased focus on crypto-native gaming and catering to high-value players.

Q3 2025 net revenue per player set a new record, ending the quarter approximately 36% higher than the previous all-time high set in Q2. Net revenue per player increased 49% quarter-over-quarter in Q2, and was 210% more than the historical average prior to the Q4 2024 company transformation. Wagers per player rose 7% quarter-over-quarter to nearly 300% above the pre-rebuild average, and average monthly deposits per player increased 24% quarter-over-quarter.

“Q3 2025 reflects the continued momentum we’ve built throughout the year,” said co-founder and CEO Steven Salz. “We increased revenue for the third straight quarter, reduced costs again on a year-over-year basis and materially improved our loss profile. Alongside the completion of our financing and debt restructuring post-quarter, Rivalry enters its next chapter on a stronger, more sustainable foundation.

“Rivalry is emerging from its transformation as a leaner, sharper, and more resilient business. We have rebuilt the engine, proven its performance, and strengthened the balance sheet. The focus now is on executing with precision and unlocking the scale potential of everything we’ve built. Player quality and monetization continue to reach new highs. The strategic shift we began last year continues to deliver. Our product is stronger, the funnel is smoother, and the economics per user are better than at any point in our history.”

More changes coming

Rivalry promised morw changes in the coming months, including launching jackpots within its revamped casino experience, rebuilding its responsible gambling features and fully rolling out a new homepage and bonuses page.

The company said that its priorities for the end of 2025 and into 2026 include continuing disciplined marketing expansion and further enhancing its product and onboarding features.

IBIA and PFA Canada work to combat match-fixing in Canadian soccer

The International Betting Integrity Association (IBIA) and the Professional Footballers’ Association (PFA) Canada continue to work together to safeguard Canadian soccer from match-fixing and integrity concerns, with nearly 200 Canadian Premier League (CPL) players and staff completing integrity training in 2025.

IBIA and PFA Canada have completed the second year of their joint anti-match-fixing education program, part of an initiative funded by a $300,000, three-year investment from IBIA and its members – bet365, Betway and FanDuel. The overarching initiative provides Canadian athletes and sports organizations with access to free, in-person integrity education.

Players and staff across all eight CPL clubs completed integrity training this year, just as they did last year.

Real-world experiences

The key aim of the IBIA training is to equip athletes and coaches with the knowledge to identify, avoid and report betting-related integrity risks. The focus on in-person training creates the opportunity to share and discuss real-world experiences, says IBIA.

The ‘Protecting the Integrity of the Game’ player education program is built around three foundational pillars of rules, responsibility and reporting. Those 3Rs cover the key information every athlete should know about sports betting-related match-fixing. In addition to highlighting the potential threats from sports betting-related match-fixing, the program educated players on rules and sanctions, the scale and accuracy of technology-enabled sports integrity monitoring and how to report incidents.

“Preventing sports betting-related match-fixing starts with educating the athletes and coaches,” said IBIA CEO Khalid Ali. “Through collaborative campaigns, industry-funded initiatives and unique face-to-face training, IBIA is setting the global standard for athlete education on betting integrity, in line with our Mission 2030 strategy. Alongside regulation and monitoring, it is very important that player education is placed at the heart of a maturing Canadian sports betting integrity ecosystem.

“We’re pleased to see this program delivering real impact. Everyone benefits when sports are clean.”

Resources like IBIA’s work are ‘beyond integral’

“The IBIA sports integrity training was super informative for our players, providing essential information on the rules of sports betting, the consequences of being involved, and ways to report any illegal activity,” added Vancouver FC captain and six-year CPL veteran goalkeeper Callum Irving. “Resources like the IBIA are beyond integral to safeguarding our sport and locker rooms from sports betting-related match-fixing.”

IBIA is a not-for-profit association funded by operators committed to safeguarding betting integrity. Its Global Monitoring & Alert Platform (Global MAP) uses operator intelligence from 90+ members to identify and share alerts on suspicious betting across regulated online sports wagering markets worldwide. Its model enables intelligence sharing between operators, sports governing bodies, regulators and law enforcement to help prevent the manipulation of sports and betting markets through athlete education, policy guidance and by promoting integrity standards.

IBIA and PFA Canada will continue their joint work in 2026.  IBIA Education Ambassador Jean-Francois Reymond said the association looks forward to partnering with additional Canadian sports organizations to help safeguard the integrity of Canadian sport.