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iGaming Ontario year three report illustrates continued surging growth

iGaming Ontario’s (iGO) latest reporting completed the picture of the third year of operation of Ontario’s regulated market and suggests that business continues to boom, with both handle and gross gaming revenue up more than 30% from year two.

In Canadian FY 24-25, from April 1, 2024, to March 31, 2025, total wagering handle across online casino gaming, digital sports betting and online poker increased 31% to $82.7 billion. That dollar amount represents total cash wagers but does not include promotional wagers or bonuses.

GGR for the 12-month period eclipsed $3.2 billion. That is up 33.7% from year two’s $2.4 billion and 129% from the $1.4 billion wagered in the first year of Ontario’s market, which opened on April 4, 2022.

Online casino, constantly the biggest revenue driver in the Ontario market through three years, accounted for $69.6 billion of the FY handle (up 34% year over year) and $2.4 billion of FY revenue (up 36%). That includes slots, table games, live dealer and peer-to-peer bingo.

In comparison, Ontarians spent $11.4 billion across the 12 months on sports betting (up 17%), which includes typical online sports wagering and other betting such as esports, political and novelty wagers. That yielded $724.0 million in revenue, up 23%. Online poker spending crept up 2% to $1.7 billion but its revenue was flat at $66.0 million.

Ontario sets annual, quarterly and monthly records

As well as the annual records, both handle and revenue rose sequentially from quarter to quarter through the financial year. Q4 (January 1, 2025 to March 31, 2025) saw a new all-time handle high of $22.9 billion and a new record of $903 million in operator profit.

In March alone, Ontario gamblers wagered more than $7.9 billion, a new monthly benchmark and a year-on-year rise of 27.2%. More than three-quarters of that ($6.6 billion) was spent on online casino gaming, while $1.1 billion was on betting and just $148 million was on online poker.

iGO-managed operators took $294.8 million in revenue last month, up 22.3% year-on-year and an increase of 5.3% on February. That’s not an all-time record, but it is second only to the $328 million in GGR recorded in January of this year.

Casino generated $240.3 million of all March revenue, with sports betting at $47.9 million and poker at $6.6 million.

“These results show Ontario is home to a truly dynamic igaming market with a strong roster of operators, and a world-class list of games available for players,” said iGO Chair Heidi Reinhart.

As of the time of writing, the iGaming Ontario-managed market hosts 84 websites run by 49 licensed commercial operators.

iGO’s reporting does not include online gaming done through Ontario Lottery and Gaming (OLG), the government-run operator which is not part of iGO’s reporting remit. OLG, which ostensibly holds around 20% of the province’s regulated online gambling market by revenue share, rounds out the number of available regulated operators at 50.

Neither does it include online gambling activity on unregulated sites. iGO’s report also included a link to a study conducted by IPSOS on behalf of iGO and the Alcohol and Gaming Commission of Ontario which found that 16.3% of Ontarians surveyed say they wager only on unregulated websites and one-fifth of the 83.7% who say they gamble via licensed operators also admit to wagering on unlicensed sites.

How does Ontario iGaming stack up over three years?

iGO’s latest reporting also allows us to step back and look at how the market has progressed in its first three years.

Total gross gaming revenue for operators eclipsed $7 billion in the market’s first 36 months. Of that, nearly $5.2 billion (73%) came from online casino, far outstripping the $1.8 billion (25%) that arose from sports betting. As iGO’s figures show every month, online casino reigns supreme.

The province’s 20% tax rate has produced more than $1.4 billion in tax revenue for the government in three years. Based on the GGR progression, the tax slice has grown from $280 million in year one to $480 million in year two to $642 million in year three.

The number of active player accounts in Ontario now sits at close to 1.1 million, nearly quadruple (+283%) the 277,000 that were active at the end of the market’s very first month in April 2022. Average revenue per active player account has grown 76% from April 2022 ($158) through the end of FY3 ($278).

Playtech grows footprint in Ontario with expanded SkillOnNet deal

Playtech is expanding its partnership with SkillOnNet through one of its game studios.

The London-based gambling software company announced on Thursday a partnership between its game studio Eyecon and online casino software provider SkillOnNet. The partnership allows Playtech to expand its reach across Ontario’s regulated gaming market.

“The launch of our games in Ontario with SkillOnNet is an important milestone in our group’s strategy to expand into new markets,” said Eyecon Commercial Director Paul Gielbert. “SkillOnNet is a key operator in the Ontario market, and we are excited to be building on our already strong relationship with them as our exclusive partner for this launch.”

Eyecon will deliver its portfolio of iGaming titles to players in Ontario for the first time as part of its deal with SkillOnNet following the success of the partnership in other markets.

Playtech bolsters its live studio business

Earlier this month, the gambling software giant expanded its live casino offerings by launching a new studio as part of a new long-term partnership with evoke plc.

The new studio, Club Aurora, is the third studio Playtech has launched with evoke. It offers players a series of traditional casino table games, including blackjack and roulette. Club Aurora also offers players a free-to-play gaming option through its Trivia hub.

Playtech and evoke launched their first live casino studios in 2024. The live casino studios from Playtech and evoke are available to players in select European markets.

Eyecon also recently expanded its reach in Europe by delivering online casino games to Ivy Casino. The company’s partnership with Ivy Casino solidifies its footprint in the UK.

In addition to SkillOnNet and evoke, Playtech has a portfolio of partners that includes some of the largest entities in gaming and entertainment. Since its founding in 1999, the company has landed deals with Sony Pictures, Warner Bros. Discovery and Paramount.

Sports betting and casino in focus at Canadian Gaming Summit 2025

The Canadian Gaming Summit 2025 will unpack the biggest shifts in Canada’s casino and sports betting landscape. At the heart of the event is the Sports Betting & Casino track, where industry leaders will tackle everything from AML reform to omnichannel growth strategies, all through the lens of customer experience.

With customer experience at the heart of every discussion, experts will explore the need to modernize AML frameworks, the rise of micro-betting, the digital evolution of land-based casinos and more.

Taking place on Wednesday, June 18 at the Metro Toronto Convention Centre, the dedicated track will feature over 20 industry voices, including key names from major operators such as FanDuel, PointsBet and BetMGM, and representatives from key regulatory bodies like the Alcohol and Gaming Commission of Ontario (AGCO). 

“Operators are constantly challenged with striking the right balance between offering innovative, engaging experiences and upholding robust player protection standards,” said Rasmus Sojmark, CEO and founder of SBC. “We’ve designed this track with that in mind — addressing not just where the industry is heading in the betting and casino sectors, but how we can get there responsibly.

“The track offers a rare chance to hear directly from regulators, legal experts, and operators and suppliers on the key trends shaping Canada’s market. You can’t miss this if you’re serious about finding innovative and responsible ways to grow your betting or casino business in Canada.”

The track begins with a discussion over reforming Canada’s approach to AML regulations as part of Broken: The Urgent Need to Modernize Canada’s AML Framework. Experts Amanda Brewer (Senior Executive, Canadian Gaming Association), Terry McInally (Chief Compliance Officer & Chief Technology Officer, Gateway Casinos), Derek Ramm (Director, Kinectify Advisors), Christine do Souto (Director, AML, iGaming Ontario) and Brian Terranova (Director, AML & Sanctions Operations, FanDuel) will explore Canada’s current AML regulations and look at how updated requirements for operators can be designed to be both effective and realistically implementable across the sector.

Innovations in Betting: Micro and More will look at how micro-betting and other innovative wager models are taking sports bettors by storm in both the U.S. and Canada. Experts Matthew Ferrara (Sales Manager, Altenar), Kris Abbott (Country Manager Canada, Stake.ca) and John Humphreys (Head of Product, 10star) will explore what the growth of this trend means for player protection and regulatory oversight and how operators can balance player engagement with maintaining responsible gambling.

The panel Omnichannel Marches On: Are The Bricks and Mortar Crowd Catching Up? will examine how land-based operators are closing the gap with their online counterparts by embracing omnichannel strategies. The discussion will feature insights from Paul Adams (Marketing Operations Manager, BetMGM Canada), Scott Baker (Interactive Account Manager, AGS), François Hardy (Product & Innovation Director, Loto-Quebec), Tony Plaskow (Commercial Director, Pixiu Gaming), and Nasr Sattar (EVP Business Solutions, NRT Tech) as they discuss how branding, technology and gameplay innovations can be implemented to reach more customers.

Attention then turns to the world of charitable gaming during cGaming – A Collaborative Approach & Community Impacts. This panel will feature Peter McMahon (Chief Executive Officer, CGAO), David Philips (Chief Operating Officer, AGCO), David Pridmore (Chief Gaming Officer, OLG), and Richard Schwar (Executive Director, OCGA) as they discuss how cGaming can stay true to its community-first mission while evolving to meet the demands of a changing audience that is becoming increasingly digitized.

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Operators are eligible for a free pass to the Canadian Gaming Summit! Apply to get your hands on one

Affiliates are also eligible for a Complimentary Affiliate Pass

Not an operator or affiliate? You can still take advantage of Early Bird tickets for the event at just $695 — a saving of $300 — until April 28! This ticket grants you full access to the entire Canadian Gaming Summit experience, including the show floor, conference sessions, and exclusive evening networking events.

Not interested in full access to exclusive networking events? You can still buy an Expo Plus Pass at $195

NHL signs up Ndax as official crypto trading partner for Stanley Cup Playoffs

Crypto trading platform Ndax is getting a big dose of visibility among sports fans and bettors thanks to the NHL.

The Calgary-based firm has signed a deal spanning the 2025 Stanley Cup Playoffs to become the league’s first-ever crypto trading platform partner.

“The partnership reflects the evolving relationship between global sports and the crypto ecosystem, signaling a new era of fan engagement and community awareness for crypto in Canada,” said the NHL in a release.

Ndax is a cryptocurrency and digital-asset trading platform that allows users to stake digital assets, including cryptocurrencies like Bitcoin and Ethereum. It holds one of the largest strategic Bitcoin reserves of any publicly disclosed Canadian institution and has recorded over $17.5 billion in lifetime trading volume as of March 2025.

Ndax is registered as an Investment Dealer and Marketplace and is a member of the Canadian Investment Regulatory Organization (CIRO) and is integrated with Canadian banking infrastructure. It offers a full suite of services and is also introducing an embedded white-label solution that enables select financial institutions and fintech partners to offer regulated crypto trading services to their customers.

“We’re thrilled to welcome Ndax to the NHL family and announce our partnership during the 2025 Stanley Cup Playoffs,” said Kyle McMann, NHL SVP of global business development. “We look forward to providing Ndax major brand visibility in Canada and showcasing the Ndax brand to passionate NHL fans in Canada in an impactful way through Digitally Enhanced Dasherboards and more.”

Ndax will be visible on all Canadian playoff broadcasts

Under the partnership, which is Ndax’s first with a professional sports league, Ndax will receive prominent brand exposure during Canadian broadcasts of the playoffs.

The firm’s logo will feature in one camera-visible corner for all Canadian playoff games and on the NHL’s Digital Enhanced Dasherboards (DED) during all national playoff broadcasts in Canada. The DED system allows for the digital replacement of camera-visible dashboards in local, national and international game feeds, enabling market-specific branding and messaging.

The NHL added that the activations offer Ndax a unique and innovative platform to connect with fans.

In addition to exclusive marketing rights and designations in Canada, Ndax will also launch a dedicated Stanley Cup Playoffs campaign titled Ndax ICE which will daily, weekly and round-based giveaways. Prizes include credits that can be used to secure cryptocurrency of the winner’s choice directly through Ndax, and the grand prize of tickets to the 2025 Stanley Cup Final.

“This partnership with the NHL represents a powerful alignment of values—heritage, innovation, and national pride,” added Ndax CEO Bilal Hammoud. “Hockey is deeply woven into the fabric of Canadian identity, and at Ndax, we see ourselves as building the financial infrastructure for Canada’s future.

“Partnering with an institution as iconic and trusted as the NHL allows us to engage with Canadians where their passion lives — on the ice — and introduce them to a secure, forward-thinking platform they can trust as they explore the world of digital assets. This is more than a sponsorship — it’s a statement of where we’re headed.”

iGaming Alberta Act passes second reading, heading for mass debate

The debate on the bill that would establish a legal framework for regulated commercial online gambling in Alberta is about to get serious.

Minister Dale Nally’s Bill 48, the iGaming Alberta Act, passed at second reading on Wednesday afternoon in the legislative Assembly. It was not discussed during the floor session but was moved ahead.

The next step will be for it to be debated at the Committee of the Whole, the committee of all Members of the Legislative Assembly (MLA) which meets to discuss specific clauses of a bill. Whenever it is taken up in the committee, Bill 48 will be reviewed clause by clause and amendments to the content of the proposal will be considered.

From there, its potential path will take it to third reading and further debate before potential approval. So far, the sum total of discussion around the iGaming Alberta Act has comprised one dedicated hour on the Assembly floor last week, in which politicians read pre-written remarks.

What do we know?

Put simply, Bill 48 would lay the foundations for Alberta to establish an Ontario-like regulated commercial online gaming market, allowing a to-be-determined number of private-sector gaming operators to gain licenses and compete against the government-run Play Alberta platform for customers’ money.

The bill would establish the iGaming Alberta Corporation, which would be the conduct-and-manage entity, similar to the role that iGaming Ontario (iGO) plays in that province. However, the proposed legislation would make the Alberta Gaming, Liquor and Cannabis Commission (AGLC) the regulator of the province’s new iGaming market. That ostensibly means that AGLC would both regulate the market and continue to operate Play Alberta in said market.

So, any online casinos and sportsbooks wanting to do business in Alberta’s regulated market would register with the AGLC and sign an operating agreement with the new iGaming Alberta Corporation and play by the rules and standards established by both parties.

The bill also includes a provision to begin the new market with a centralized self-exclusion system in place, a tool by which gamblers can choose to ban themselves from every regulated online gaming site in one move. Ontario does not have such a system, but one is in development between iGO, Integrity Compliance 360 (IC360) and IXUP.

“A significant number of Albertans are potentially being preyed upon by grey-market sites or illicit sites,” Nally said when presenting the bill for second reading last week. “This legislation proposes to change that … Our goal is not to create new gamblers but to make existing online gambling safer. ”

What do we not know?

The answer to this question, as of right now, is “a lot.”

Bill 48 does not include a suggested tax rate or license fee or any real specifics around what would or would not be allowed in the new market, other than stipulating that companies would have to gain government approval and a licence to operate. There is not much meat on the bones around what the market would look like, what requirements operators and suppliers would have to meet or how players would be safeguarded.

Although we do know that the Alberta iGaming Corporation would be mandated to pay its “surplus” funds to the province, we don’t know how big a cut that will be.

Nally and other members of the incumbent United Conservative Party (UCP) said last week that key regulations and policies related to factors such as revenue, consumer protection and social responsibilities will be outlined later this year following further engagement with indigenous groups and industry and community leaders.

The New Democratic Party (NDP) chastized the UCP for the lack of detail, saying that with one member calling it “just like buying a car without knowing if it has brakes or a steering wheel.”

These are the things that lawmakers will look to hash out in the Committee of the Whole. It could take some time.

U.S. and LatAm leaders headline opening day of SBC Summit Americas

SBC Summit Americas will begin its conference agenda on Wednesday, May 14, at the Broward County Convention Center with a Leaders Track that will set the tone for a landmark event uniting North America and Latin America’s gaming sectors under one roof.

The day will begin with opening remarks titled Welcome to Florida, delivered by Julie Brown, vice-chairman and inaugural chairman of the Florida Gaming Control Commission. Brown played a pivotal role in establishing the Commission and brings a deep understanding of Florida’s regulatory landscape, making her a fitting figure to help open the first edition of this reimagined event.

The opening remarks will be followed by a conversation with Bill Miller, president and CEO of the American Gaming Association (AGA). Miller will offer a timely exploration of how the shifting political landscape — from Capitol Hill to state regulatory conversations — is shaping the future of legal gaming in the U.S., as policymakers and regulators adapt to emerging technologies, evolving consumer behaviors and increased scrutiny around responsible gaming.

It’s More Fun When It’s For Fun: In Conversation with DraftKings’ First Chief Responsible Gaming Officer will shine a spotlight on one of the industry’s most crucial priorities: player protection. DraftKings‘ Lori Kalani will bring a fresh perspective on how the company is embedding responsible gaming practices across its platforms and player communities.

SBC’s Managing Editor, Jessica Welman, will interview Ari Borod, who will offer attendees an exclusive look into the bold ambitions and strategy of one of the most closely watched entrants in the U.S. sports betting market, Fanatics Betting and Gaming. As Chief Business Officer, Borod plays a central role in shaping how the powerhouse brand is differentiating itself in a saturated market, navigating regulatory hurdles, and aiming to merge commerce with gaming in innovative ways.

The day will also feature three Leaders panels tackling key regional and operational challenges:

LatAm Leaders — Beyond Brazil: Balancing Growth Across LatAm’s Other Markets will bring together experts from Colombia, Argentina, Peru and more to explore how operators can leverage Brazil’s momentum while sustaining growth in neighboring markets. Panelists include Julio César Tamayo Betancur (Wplay), Felipe Fraga (EstrelaBet), Sebastián Vivot (LOTBA), Ramon Glieneke (Alea) and Gonzalo Pérez (Apuesta Total), moderated by Karen Marcela Sierra-Hughes (GLI).

Sports Betting Leaders: Tech vs Sportsbooks – What Are the Odds? will address the impact of AI and innovation in U.S. sportsbooks. Speakers Stuart Simms (FairPlay Sports Media), Behshad Behzadi (Sportradar) and Endre Nesset (Coolbet) will explore whether embracing tech enhances or undermines the betting experience.

iGaming Leaders: Omnichannel Strategy for Enhanced Customer Experience will look at how operators can deliver seamless player journeys across digital and physical platforms. The panel includes Kresimir Spajic (Betfred US), Oliver Bartlett (BetMGM), Lee Terfloth (Delaware North), Shai Frank (Optimove) and Andy Mace (Sportradar).

Another key sequence of sessions will offer a deep dive into the evolution, crossover, and regulation of fantasy sports in the U.S.

The State of Fantasy Sports in America will explore the history, skill-based game types, and monetization models of the sector. Crossover Between Fantasy Sports & Sports Betting will examine how businesses can engage a shared audience of 70 million fans through aligned products and strategies. Paid Fantasy Sports & Sports Betting – Legislation & Regulation Differences will unpack the legal and operational contrasts between the two verticals. The block will conclude with 30 Years of Sports: From the Internet’s Infancy to Today’s Tech, which will reflect on the industry’s transformation through the lens of innovation.

Capping off the day, Ask the Regulators will provide a rare and high-impact opportunity for operators and suppliers to engage directly with the key figures shaping U.S. gaming legislation. In this interactive Q&A session, Ed Martin (CEO) and Tom Sage (VP) of the Sports Betting Regulators Association, alongside Shawn Fluharty, president of the National Council of Legislators from Gaming States, will offer insight into the priorities, challenges, and future direction of state-level regulation.

Day Two of the event will also feature a dedicated Leaders Track, bringing together even more influential voices from North and Latin America to discuss what lies ahead for the industry.

Get your SBC Summit Americas tickets — group discounts are available!

AGCO fines Great Canadian Casino Resort Toronto over alleged cheat scheme

The Alcohol and Gaming Commission of Ontario (AGCO) has fined Great Canadian Casino Resort Toronto for allegedly failing to detect cheating and dealer collusion at the casino.

In a notice, the AGCO said it had issued a monetary penalty of $120,000 to Ontario Gaming GTA Limited Partnership, a joint venture of Great Canadian Entertainment and Brookfield Business Partners in the Greater Toronto Area. Those two parties acquired the operational rights to the casino from the Ontario Lottery and Gaming Corporation (OLG) in 2017.

In March 2024, the Ontario Provincial Police (OPP) Investigation and Enforcement Bureau (IEB), which is embedded within the AGCO, laid charges against five individuals after investigating allegations that two table games dealers at Great Canadian Casino Resort Toronto were colluding with a group of casino patrons.

A subsequent compliance review determined that the dealers had engaged in a cheating scheme on multiple occasions with the same group of players, leading to nearly $20,000 in illicit winnings in less than one week. The scheme allegedly involved the dealers intentionally exposing face-down cards while dealing, as well as inappropriately overdrawing cards and issuing overpayments on winning hands.

The AGCO’s review found that Great Canadian Casino Resort Toronto’s surveillance and supervisory staff failed to detect the scheme and casino staff did not follow proper table games audit procedures, which are intended to ensure rules of play are followed by dealers and patrons.

Canadian Gaming Business reached out to Great Canadian Entertainment for comment.

“We acknowledge the fine issued by the AGCO and reaffirm our zero-tolerance policy for any behaviour that has the potential to compromise game integrity,” Great Canadian Entertainment EVP of External Relations and Business Development, Chuck Keeling, told CGB by email. “We will continue to support all efforts to prosecute those responsible.”

“Ontario’s registered casino operators have an obligation to ensure the integrity of gameplay in their casinos,” said AGCO CEO and Registrar Dr. Karin Schnarr. “This includes a responsibility to detect and prevent collusion and cheating. The AGCO will continue to monitor and take all necessary steps to uphold the integrity of gaming in Ontario’s gaming sites.”

Great Canadian has the right to appeal the penalty.

Second incident at Great Canadian’s Toronto casino

This is Great Canadian Casino Resort Toronto’s second recent incident involving allegations of cheating and dealer collusion at the casino.

In September 2023, the AGCO fined the casino, then known as Casino Woodbine, $80,000 after failing to detect a similar scheme in which an electronic craps dealer was in collusion with five patrons over a period of around six months.

In that case, the AGCO review ntoed that table games supervisors were often absent from the craps table when suspicious gambling activities occurred and added that although the casino had issued seven procedural violations to the dealer for inappropriately pushing dice to patrons before closing bets, the dealer was allowed to continue dealing electronic craps during that time.

The $1 billion Great Canadian Casino Resort Toronto opened in June 2023 adjacent to the Woodbine Racetrack.

Strive Gaming lands deal with Delta Bingo & Gaming to provide services

Strive Gaming has secured a deal to provide Delta Bingo & Gaming Online with its services.

The Vancouver-based company has reached an agreement with Delta to expand its digital business. As part of the deal, Strive will provide its player account management services to Delta, which operates gaming machines in 20 brick-and-mortar locations across Ontario and Maryland.

Strive will provide Delta player account management services through its Strive Infinity Engine, which provides operational automation and real-time engagement for operators and their consumers. Strive has also been tasked with developing front-end experiences for Delta while adhering to gaming regulations and standards.

“Strive Gaming is an experienced provider in the markets we operate in and has made a great effort to understand our needs,” said Delta Bingo & Gaming CEO Leo Perri. “Their specialized focus and dedication aligns with our customer experience goals, and we believe that they can help us bring our customers a world-class digital casino experience.”

Delta has partnered with Strive after launching its digital business in 2023 while continuing to establish its retail presence at 18 locations across Ontario. As the largest bingo operator in Ontario, Delta provides Strive the opportunity to expand its reach across North America. The bingo and gaming giant recently opened a new flagship gambling facility in Etobicoke.

“We have more B2B customers on PAM than any other PAM provider in North America,” a Strive spokesperson told Canadian Gaming Business. “Delta will be our third customer in Ontario and we know that partnered with us, they will see exceptional growth as they have the right team, know-how how and database. We are really looking forward to this launch and how it helps our journey at Strive on achieving our long-term goal of continuing to be the No. 1 B2B PAM provider in the U.S. and Canada.”

In addition to Canada and the U.S., Strive has also solidified a footprint in Malta and the UK. The company has secured licenses in Ontario, Arizona, Colorado, Michigan, and Pennsylvania. It is also going through the approval process for licensing in New Jersey.

Strive’s partners include Betsson, DraftKings, Four Winds and Game Play Network.

Rivalry says mixed quarterly results validate its change in strategy

Despite a notable slide in revenue, crypto-focused betting and gaming operator Rivalry said that improvements in user value suggest that its change in approach is working.

Rivalry has made sweeping changes to the way it does business, including rebuilding its sportsbook, redesigning its casino offering, rebranding its VIP rewards and and affiliate partner programs and expanding its crypto capabilities. As it has conducted those changes, it has implemented three separate rounds of layoffs and executives have taken pay cuts.

Although net revenue was down 71% year over year to $1.3 million for the three months ended March 31, 2025, the first full quarter under Rivalry’s revamped operating model, the firm stated that a significant increase in cost efficiency and operating leverage validates the impact of recent changes.

Rivalry put the slide in net revenue down to a “deliberate shift to a leaner, more efficient model” and added that the shortfall also reflected temporary variance in sportsbook hold as it focuses on high-value and VIP players. Net revenue margin was 2.3%, around half of the full-year 2024 margin of 4.4%.

The big plus for the Toronto-based company has come in player value. Net revenue per user per dollar of operating expense quintupled compared to its average before the strategic overhaul, which it completed in October 2024. Monthly active players grew by 9% in March 2025, following a similar increase in February 2025. Since the operational shift, Rivalry’s average revenue per playing account in the Ontario market has nearly doubled compared to pre-overhaul levels.

“We’ve built a stronger, leaner, and more focused Rivalry,” said co-founder and CEO Steven Salz. “Our Q1 KPIs are delivering tangible results that validate our strategic shift.”

Rivalry focusing on high-value players

The company also stated that a key factor in its net revenue and margin slump was the increased focus on VIP and high-value players, noting that those segments offer greater long-term value but more short-term variability as they scale.

Rivalry added that its shift to focusing on high-value players drove a 175% increase in average player monthly deposits prior to the strategic refocusing. Total deposits rose 36% month over month in February and another 12% in March, despite a smaller active user base than past peaks. In addition, average monthly deposit frequency per player increased by 115% compared to pre-October 2024.

“The structural changes we implemented over the past six months — from streamlining operations and refocusing the product to modernizing our platform and concentrating on high-value players — are now clearly reflected in our KPIs,” added Salz. “We’re operating more efficiently than ever, generating significantly more revenue per user, and moving closer to achieving sustainable profitability.

“The KPIs are telling the real story — user value is up, efficiency is up, and player engagement is the strongest we’ve seen in the company’s history … As sportsbook hold normalizes and our cost base becomes leaner, we believe we’re moving in the right direction.

Strategic review in process, will delay FY reporting

The changes are likely to keep coming.

Last week, Rivalry announced it is reviewing “strategic alternatives” to support its long-term growth and determine the best path forward and has engaged XST Capital Group, an investment bank focusing on the digital gaming sector, as advisors throughout the process.

Rivalry said the intention is to assess various options to position it for continued growth and innovation. Salz called the review a “natural step in assessing how we can best create long-term value for our stakeholders while continuing to enhance our world-class gaming platform.”

The company disclosed that as a result of resources being used on the strategic review, it will file its audited financial statements for full-year 2024 late, missing the April 30 deadline.

PowerPlay launches new customized platform for Ontario players

Licensed online sportsbook and casino operator PowerPlay has launched what it calls a new localized platform for Ontario players that it says is tailored to meet the regulated market requirements.

The updated Ontario site combines an enhanced sportsbook with an expanded casino offering while maintaining the familiar PowerPlay.com interface.

On the sportsbook side, PowerPlay now offers Ontario players same-game parlays and player props across nearly 30 sports categories. On the online casino front, there are hundreds of new casino games including slots, table games, and live dealer options, as well as a multi-game functionality that lets users play multiple games simultaneously for an enhanced gaming experience.

The platform offers a range of payment options including electronic transfers with all major banks, credit and debit cards, Paysafecard and other methods.

Catering to a core market

“Ontario has been a core market since the province first regulated online gaming just over three years ago,” said Bill O’Brien, sportsbook manager at PowerPlay. “Our team has worked around the clock to deliver the best possible experience for Ontario sports bettors as we continue to grow as a trusted local sportsbook and online casino in Ontario.

“We set out to build a complete online gaming hub – a place that captures everything today’s players are looking for. We’re inviting Ontario bettors to check it out and raise their game.”

PowerPlay has been licensed to offer both online casino and online sports betting in Ontario since February 2023, when it received official approval from the Alcohol and Gaming Commission of Ontario (AGCO). But the update suggests it is now leaning into the market more heavily, looking to connect with the hundreds of thousands of players.

iGaming Ontario (iGO) reports that there are more than 1.1. million active player accounts across the province’s 49 regulated commercial operators as of the most recent count.

PowerPlay working with GiG in Ontario

Late last month, it was announced that PowerPlay is working with B2B iGaming technology company Gaming Innovation Group (GiG) on its online platform in Ontario.

Via that deal, GiG supplies PowerPlay with its online gaming platform, innovative content management system and its SportX sportsbook. PowerPlay also leverages GiG’s AI tools, DataX and LogicX, which provide advanced machine-learning models that help operators improve player acquisition and customer retention.