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Forestell and Gertner to strengthen AGCO board of directors

The Alcohol and Gaming Commission of Ontario (AGCO) is filling holes in key positions.

The AGCO has announced the reappointment of Dave Forestell as Chair of its board of directors for a three-year term. Forestell, who was first appointed to the role in July 2023, has been a member of the AGCO’s board for six years. Forestell was named Chair following the resignation of previous incumbent Lalit Aggarwal. Forestell has since relinquished his position as Chair of iGaming Ontario.

Forestell is continuing to lead the AGCO’s board as the current VP of External Relations (Canada) for TC Energy. The Western University grad also holds a leadership role at the Ontario College of Art and Design University as a member of the Board of Governors.

AGCO adds more to roster

The commission has also tapped Alan Gertner as a new director for a two-year team.

The Arcana founder joins the AGCO with experience in gaming as a former Vice Chair at iGaming Ontario. Gertner, a graduate of the Richard Ivey School of Business at Western University, also co-founded Tokyo Smoke. The publicly traded cannabis company was acquired by Canopy Growth Corp in 2018 for roughly $250 million. Canopy would divest its investment in Tokyo Smoke by selling it to OEG Retail Cannabis last year.

Gertner has also spent time at Google and Oliver Wyman in New York. He will also maintain his role as a Director at the Mabin School in Toronto while with the AGCO.

IGT Gaming and Everi sold to Apollo Funds in $6B all-cash deal

A new holding company established by Apollo Global Management has agreed to acquire Everi and IGT’s Gaming & Digital business in an all-cash deal valued at $6.3 billion.

IGT and Everi are being acquired by Apollo Funds following a strategic review by IGT earlier this year. The review led IGT to enter into a definitive agreement to combine its Global Gaming and PlayDigital businesses with Everi. As part of the deal, IGT planned to separate its Global Gaming and PlayDigital segments into a taxable spin-off to shareholders. Now, Apollo Funds has acquired IGT Gaming and Everi with plans to transition the two entities into privately owned companies once the transaction is closed.

“With the Apollo Funds, we have found a partner that recognizes the strength of IGT Gaming, the value of our talent, and our position in the industry,” said IGT CEO Vince Sadusky. “This transaction will allow IGT Gaming to continue to invest in and enhance its growing core segments while providing customers with a more comprehensive portfolio of offerings.”

As part of the deal, Everi stockholders are receiving $14.25 per share with IGT set to receive $4 billion of gross cash proceeds for its former Gaming segment. IGT plans to use most of the fresh injection of capital to repay debt and return value to shareholders.

De Agostini S.p.A, IGT’s majority shareholder, will continue to invest in the company despite the sale to Apollo Funds.

De Agostini plans to make a minority equity investment in the combined business once the transaction is closed. Apollo Funds and IGT expect the deal to close by Q4 2025 with Everi delisting from the New York Stock Exchange. IGT will also be changing its name and stock ticker symbol as a lottery business upon a completed sale.

The transaction is not expected to face scrutiny from IGT leadership with a special committee from its board of directors approving the deal. The transaction has also been unanimously approved by all members of Everi’s board of directors.

Stagnant results for IGT

IGT is offloading its Gaming and Digital business amid flat revenue results.

The London-based company generated $1.07 billion in revenue in Q1 2024, a 1% increase year-over-year. The results in Q1 were led by IGT’s Global Lottery business, which reported $661 million in revenue. By comparison, lottery revenue reached $624 million in Q1 2023.

IGT’s Gaming and Digital business closed Q1 2024 with $406 million in revenue, down from $436 million for the same period last year. Before IGT’s agreement with Apollo Funds, the company projected total full-year revenue in FY2024 to reach at least $4.4 billion.

Pollard Banknote extends deal with multiple Canadian lotteries

Pollard Banknote has signed a five-year extension to continue providing its services to multiple Canadian lottery corporations.

The company has extended its Instant Ticket Printing Services Agreement with the Interprovincial Lottery Corporation (ILC), ensuring that it will continue to provide instant tickets, game design, and related services through December 31, 2028. The contract has an option to renew for an additional five years.

The ILC is a nationwide lottery organization with five members: the Atlantic Lottery Corporation, Loto-Québec, the Ontario Lottery and Gaming Corporation (OLG), the Western Canada Lottery Corporation (WCLC) and the British Columbia Lottery Corporation (BCLC).

Pollard Banknote and the ILC have worked together for the past 35 years to deliver regional-specific strategies and top-selling national games to players across all 10 provinces and three territories. Pollard Banknote and ILC recently launched the latest iteration of its Jackpot family of games as the lotteries continue to bolster their digital operations.

“We look forward to continuing our strong partnership with Pollard Banknote,” said ILC Director of National Games, Sarah Price. “Their expertise and experience in the industry has allowed us to bring exciting new concepts and instant games to the Canadian market. The contract extension will allow us to continue to deliver innovative and creative games that players love and that will generate revenue for the vital programs the lotteries support throughout Canada and their respective provinces.”

“Pollard Banknote is thrilled to have the opportunity to extend our partnership with the ILC,” said Brad Thompson, VP of sales and marketing at Pollard Banknote. “We are excited to continue providing innovative products that stand out at retail and extend the play experience into the digital landscape, with the ultimate goal of maximizing revenue for good causes across Canada.”

As well as every Canadian lottery corporation, Pollard Banknote is a partner of more than 60 lotteries worldwide. It not only provides instant ticket products and games but also a full suite of digital offerings including player engagement solutions and strategic marketing and management services.

 

Eilers-Fantini: IGT top supplier in Canada, Playtech surges in live dealer

Eilers-Fantini’s latest Canada report shows that International Game Technology (IGT) is still the king of slots across multiple provinces.

In the July 2024 report published by Eilers & Krejcik Gaming, IGT led all other suppliers with an 18.3% share of the overall gross gaming revenue generated by game providers across the country. That was down slightly from the 19.3% it captured in June’s report but comfortably ahead of Evolution’s 13.6%.

South of the border, Evolution regained the top spot from IGT, which briefly seized the lead in June.

In Canada, Pragmatic Play was third with 11.9% while Light & Wonder in fourth ticked up slightly from 10.6% in June to 11.0% in July.

In terms of individual games,  IGT’s Cash Eruption game held onto its ranking as the top-performing game in Canada, holding a 2.0% share of the total theoretical win. The company’s Cleopatra title secured second place, giving IGT the top two games for another month. Evolution’s Live Dealer Roulette completed the podium in third. A third IGT game, Blackjack, was both the top-performing table game and the fourth and final title to grab 1% of overall GGR.

Meanwhile, Pragmatic Play’s Sweet Bonanza 1000 and Gates of Olympus 1000 were the two best-performing new games in the July report. The New Slot ranks featured nine previously unranked games including top performers such as IGT’s Powerbucks Bounty O Bucks and new titles from Light & Wonder, Inspired and Wazdan.

Evolution still top live dealer, table game supplier

While IGT wears the overall crown and also ranks as the top slot supplier, Evolution leads all others in GGR in both the live casino and table games segments. It holds more than two-thirds of the total GGR among live casino suppliers, while its 36.6% of table games GGR is slightly ahead of IGT’s 32.0%.

However, its overall share of 13.6% was its lowest since January.

Second place in the live casino segment went to Playtech, which has been a notable mover in recent months. Playtech now represents 19.7% of GGR within live casino , nearly double its share from four months ago.

Eilers-Fantini’s monthly supplier tracker monitors nine online casino sites across five provinces.

World wide web inventor to keynote at SBC Summit 2024

Sir Tim Berners-Lee, the inventor of the World Wide Web, will speak at the SBC Summit 2024 as part of a fireside discussion.

The fireside discussion, focusing on how his vision of a globally connected network of computers has revolutionised the way we share information, is set for the Super Stage at Feira Internacional de Lisboa’s MEO Arena on Sept. 24 from 11:45 to 12:30.

Berners-Lee invented the World Wide Web in 1989 during his tenure as a software engineer at CERN, the renowned particle physics lab near Geneva, Switzerland. He saw the unrealized potential of millions of computers linked via the Internet and conceived the Web as a global platform for sharing information.

“Our events have always been about exploring what lies ahead, beyond the current landscape. As event organizers, our goal is not only to provide attendees with access to products and services and facilitate networking but also to educate and inspire innovation, pushing their offerings to the next level. Sir Tim embodies this ethos perfectly — he’s a shining example of someone who recognised potential and transformed lives in unimaginable ways,” said SBC CEO and Founder Rasmus Sojmark.

Access to the Super Stage is available to all SBC Summit attendees, whether they hold a full event or an expo-only pass. In addition to attracting 25,000 attendees, the event will feature 600 global brands showcasing their products and insights from over 450 speakers, including industry C-levels, thought leaders and experts from various fields.

iGaming Ontario’s Q2 2024 numbers show online casino towers over rest

The latest Ontario market report from iGaming Ontario shows that, while both online sports betting and iGaming continue to post healthy year-over-year growth, it is online casino gaming leading the way.

Commercial online casino offerings yielded around three times more revenue than online sports betting in Ontario during the Q2 2024 period from April 1 to June 30, according to numbers published on Wednesday

The Ontario commercial iGaming and sports betting Q2 2024 (Q1 of iGO’s fiscal year) data indicates that casino games, including slots, live and computer-based table games and peer-to-peer bingo, accounted for 84% (nearly $15.5 billion) of total wagering handle and 73% ($529 million) of gaming revenue.

Betting, including sports, esports, prop bets, novelty bets and exchange betting, accounted for $2.5 billion (14%) of total wagers, up from around $2 billion this time last year but down slightly from $2.7 billion in Q4 2023. Sports wagering yielded $181 million of gaming revenue, 25% of the Q1 2024 total.

Peer-to-peer poker made up $402 million of total handle and $16 million of gaming revenue.

Overall betting and gaming handle increased to $18.4 billion. That total sum, which does not include promotional wagers, is up 31% from a year earlier and 3.4% from the previous quarter. Total gaming revenue rose to $726 million, representing similar rises of 34% YoY and 5.2% QoQ.

Biggest growth comes in player account numbers

While online casino and sports betting handles and revenues posted strong growth, the biggest yearly gains were seen in the number of player accounts in the province.

The number of active player accounts more than doubled year-over-year, surging from around 920,000 to 1.9 million. iGO stressed that this does not mean 1.9 million Ontarians were playing, as many residents likely have accounts on more than one commercial operator.

Average monthly spend per active player account was also significantly higher at $284, up 44% from $197 last year.

“With 50 regulated operators and a one-third increase in wagering and revenue figures over the first quarter of last year, Ontarians who choose to gamble are finding many enjoyable options in our open regulated iGaming market,” said iGO Executive Director Martha Otton. “The revenue generated by Ontario’s competitive iGaming market contributes directly to provincial priorities such as infrastructure, healthcare, and education.”

Ontario approaching year-five targets after just two years

In iGO’s last quarterly report, it noted that Ontario online gambling sites generated $2.4 billion in revenue from $63 billion in wagers in the market’s second year, year-over-year jumps of 71.4% and 78%, respectively.

Wednesday’s release also comes just over a month after data published by iGO and Deloitte suggested that Ontario’s commercial iGaming market is performing far better than had been projected.

Commercial online gaming and betting in the province has so far generated more than $4 billion in economic value for the province and created around 15,000 jobs.

It all means that after little more than two years, Ontario’s market is already approaching longer-term targets.

As well as the two-year total of around $4.3 billion in GDP approaching Deloitte’s initial year-10 GDP forecast of $4.7 billion, Ontario commercial iGaming market has hit or nearly reached many of Deloitte’s year-five projections in just its second year. Government revenues (94% of the five-year projection in two years), direct jobs sustained (120%), total full-time jobs sustained (92%) and GDP contributions (93%) are all “outpacing initial expectations.”

Otton noted in that June report that while, “year over year, it’s unrealistic to expect that we’ll see growth of over 70%… to be frank, we’re not seeing the leveling off yet.”

Letter to the Editor: Are provincial lotteries flourishing or floundering?

The Spring Edition of Canadian Gaming Business magazine contained the following inaccurate statement: “With Ontario enjoying the success in its private sector model, other provinces are flourishing with the provincial lottery corporations continuing to be the sole legal provider of online gaming.”

The assertion that provincial lottery corporations are the “sole legal provider(s) of online gaming” is highly debatable. It is no surprise that some provincial lottery corporations take this view. The fact is, there is no Canadian case law that has ever found offshore iGaming companies that accept play in Canada to be acting illegally. The lotteries may hold that opinion, but it is just that, an opinion with no evidence to support that claim.

As for the assertion that lotteries are “flourishing”, the Canadian Gaming Association (CGA) recently retained H2 Gambling Capital to research sports betting in Canada. Their report concluded that lotteries capture only 11% of sports betting. Another analysis conducted by Yield Sec found that lottery corporations have captured about 14% of the total online market, while other independent research suggests that lotteries have approximately 20% to 25%. 

Lottery corporations in Canada have historically enjoyed a monopoly on all gambling products. Yet no monopoly could claim to be “flourishing” with a paltry 11-25% market share… floundering may be the more appropriate description.

Troy Ross, TRM Public Affairs

Do you have a letter to the editor? Have your say and write to us at [email protected]

Slots influencer Brian Christopher talks Flip the Switch and BetMGM partnership

Fliptheswitch.com is the first “player portal” for the whole of gaming, according to its founder Brian Christopher.

“[Fliptheswitch.com is] where all players can come together and learn everything factual about playing in casinos, online and sports betting,” Christopher told Jessica Welman, editor of Canadian Gaming Business, at the recent Canadian Gaming Summit in Toronto. “There’s so much misinformation out there on how casinos work, so we’re there to demystify everything, put people at ease, and answer all their questions.”

Last month, BetMGM announced that it had entered an exclusive partnership making Christopher a brand ambassador. He will appear in content across the firm’s livestreams on its social media channels and feature in future marketing campaigns.

“I get to join the ranks of some of the biggest stars out there who really speak for and in my case get to play for BetMGM. I’m going to be promoting them, their casino, their sportsbook, and just having a lot of fun showing my fans how to play all those different games they have,” he said.

He added that he believes iGaming will “explode” in the coming years as more states legalize online casino and as a result, he now has the opportunity to “put everyone at ease” by walking people through the steps on how to play online slots.

Christopher is the face of Brian Christopher Slots and runs three YouTube channels showcasing him playing different slots and casino games as well as going live three times a week, both in casinos and playing online.

“What I’ve found is a lot of our fans that watch us, they’re not necessarily slot players. A lot of them are just poker players, or maybe they’re not gamblers at all or maybe they don’t have the money to gamble so they want to watch me,” he said.

“We literally cover everybody and they’re not just tuning in for the gambling side, it’s for a community they are coming out for too and they love the conversation. That’s why I love the love livestreams too because you can have a conversation with people. And from the manufacturer’s side too they can get immediate feedback on how people are liking and reacting to their games in the chat.”

Whenever people produce gambling content it sparks a debate surrounding responsible gambling and the ethics of promoting slots to an audience. On the topic, Christopher emphasized that since the start he has been transparent about his wins and losses.

“From day one of me starting this I would put at the end of my videos my profit or loss, I don’t hide anything,” Christopher explained. “You’ll never catch me in a casino filming something and then discarding the video. I show everything, all my wins and especially all my losses, and we lose a lot more than we win. I can go five days in a row of videos where it’s just lose, lose, lose. I have to show that because I want people to know that I’m not special and I lose like everybody else. I do not want to be responsible for people just watching winning videos thinking they can do the same thing so we try to be very smart about that.”

Christopher has also been a vocal supporter of anti-smoking campaigns and has provided testimony in New Jersey on the topic. He chastised companies like Caesars, Bally’s and Boyd which have all recently chosen not to investigate whether consumers want a smoke-free environment in casinos.

“I’m like you won’t even research to find out what your people want, shame on you. I’m so against that. People want smoke-free gaming, and I’m even hearing that from smokers. People don’t smoke in their own houses, they don’t want to breathe it in non-stop. It makes no sense that 100% should have to breathe it in when only 11% smokes,” added Christopher.

He advocates for casinos to provide smoking patios outside for smokers which he says will have the added benefit of allowing players to take a break which can have positive responsible gambling implications.

Watch the full SBC Media interview with Brian Christopher above.

PlayAlberta to offer Aristocrat Interactive casino games

Alberta is emerging as a new market for Aristocrat Interactive.

PlayAlberta, the province’s exclusive online gambling provider, announced on Monday a partnership with Aristocrat Interactive to offer titles from the gaming giant’s Real Money Gaming and Gaming Systems divisions. Aristocrat will be providing online players across Alberta with a familiar gaming experience as the company is the province’s top retail slot terminal supplier.

Alberta Gaming, Liquor, and Cannabis (AGLC) VP of Gaming Dan Keene had revealed the imminent collaboration in an interview with Canadian Gaming Business in June.

“Expanding our reach across North America remains a key priority and this launch with Play Alberta represents another milestone in our commitment to delivering the very best content to players in the region,” said Aristocrat Interactive VP of North America Shivan Patel. “PlayAlberta has resonated with players across the province and we are thrilled to establish what we are sure will be a very positive relationship.”

Aristocrat Interactive is offering a selection of its most popular titles, including Wicked Winnings II and Gold Stacks 88 Lunar Festival with plans to release more titles in the coming weeks.

Alberta presents Aristocrat Interactive with a new opportunity to drive profits. In 2023, PlayAlberta reported $235 million in net sales, up more than $42 million compared to the year prior.

Alberta is allocating $1.5 billion in total gaming revenue to its General Revenue Fund.

Changes in Alberta

PlayAlberta is taking steps to diversify its offerings with new technology and markets.

Last month, AGLC announced an overhaul of PlayAlberta to facilitate the launch of an app that will offer sports betting for the first time.

Bettors in Alberta will also have access to new and unique betting markets thanks to an exclusive multiyear partnership between the Calgary Stampede and PlayAlberta.

The deal makes PlayAlberta the exclusive sports betting and iGaming partner of the Stampede. PlayAlberta will also have a marketing presence at Stampede events.

Entain names ex-Scientific Games chief Gavin Isaacs as CEO

Entain has named experienced chief executive Gavin Isaacs as its new CEO.

The international sports betting and gambling company had been searching for a new permanent leader since Jette Nygaard-Andersen resigned from the role last December.

Isaacs, the former CEO of Scientific Games and chair of Games Global, will officially begin his new role on September 2. Interim CEO Stella David will work alongside Isaacs before succeeding Barry Gibson as chair on September 30.

“I am very excited to be joining Entain,” said Isaacs in a press release. “The company’s iconic brands, exceptional talent and ongoing execution of its refocused strategy will enable the business to return to a leadership position across all aspects. I am confident that Entain has an extremely bright future, and I look forward to leading the group in capitalizing on the opportunities ahead and creating value for all its stakeholders.”

Isaacs’ other previous roles in a long and successful career to date have included as president for the Americas of Aristocrat, five years as executive VP and chief operating officer of Bally’s Technologies, president and CEO of Scientific Games, and chair of Games Global since October 2022. CEO Walter Bugno will act as Games Global’s interim chair until a new permanent chair is appointed.

Bugno said that Isaacs, “has been a tireless advocate for Games Global and as Chairman has played a key leadership role in building our business.” Isaacs will remain on the company’s board as an independent non-executive director.

David said that she is confident that Isaacs can help Entain, “realize the ambitious plans that we have.”

Part of Isaac’s responsibilities will be to spearhead the company’s corporate strategy as it looks to return to growth following corporate losses of more than $1.5 billion CAD in 2023.

Entain appoints new head of Canada

That corporate strategy stressed that Entain should prioritise the growth of its BetMGM joint venture with MGM Resorts International in North America.

While official operator data is not available within Ontario, market report estimates have suggested that Entain’s co-owned BetMGM brand is the combined market leader in Ontario’s two-year-old regulated online gaming and sports betting market.

Entain has multiple other fingers in the Canadian pie, with brands including Sports Interaction, bwin and its slate of Party brands including Party Casino all licensed and operational in Ontario.

Isaacs isn’t the only new leader at Entain. Earlier this month, former HomeStars CEO Shir Magen was appointed as Entain’s new head of Canada.

Announcing the career move on LinkedIn, Magen noted that, “with key markets expected to introduce regulation soon, the growth possibilities are significant.”

Given its success in Ontario and its North America-wide status as a renowned gaming and betting brand, BetMGM would seem at face value a leading candidate to enter the Alberta online gaming and betting market when it opens.