Alberta Allocates CA$1 Million for Online Gambling Initiative

Alberta has taken a significant step forward in its efforts to develop its online gambling sector. In its recent budget announcement, the province earmarked CA$1 million to conduct a comprehensive review of the existing iGaming framework. This move signals a potential shift towards implementing a model similar to Ontario's.

While Alberta had previously outlined plans for a limited-operator model in its online gaming sector, the latest budget suggests a reevaluation of these plans. The province has initiated a Request for Proposals, inviting operators to submit bids for conducting operations within its borders.

Progress in the iGaming Sector

The 2024 budget unveiled by the Alberta government included a dedicated section addressing iGaming. The allocated funds will support a review of the Gaming, Liquor and Cannabis Act, with a focus on streamlining regulations to reduce the burden on businesses. Additionally, efforts will be made to enhance contributions to local charities and community facilities.

Minister of Service Alberta and Red Tape Reduction, Dale Nally, will oversee the review process. Recent statements from his office indicate a commitment to establishing an open and regulated iGaming sector akin to Ontario's model. Despite being in the early stages, the province has swiftly moved to initiate this initiative.

Mr. Nally participated in the ICE gambling conference in London, engaging with industry leaders including Ontario Attorney General Doug Downey and Canadian Gaming Association CEO Paul Burns. Insights gleaned from this conference shed light on the successful implementation of Ontario's iGaming model and informed discussions on developing a similar framework for private operators in Alberta.

Potential for Growth

Mr. Nally envisions Alberta as a prominent hub for online casino gaming, emphasizing a commitment to fostering an open and competitive market. Favorable conditions such as low corporate taxes, streamlined regulations, and high disposable incomes position the province to emerge as a leader in the internet gaming sector.

Despite being in its nascent stages, the Alberta market has garnered significant interest from operators. PointsBet Canada, for instance, expressed interest in exploring the Calgary-Edmonton Corridor, citing the province's large sports fan base and business-friendly environment. Projections suggest that Alberta could contribute significantly to Canada's net gaming revenue, with Ontario currently leading the market.

As Alberta moves forward with its online gambling initiative, careful consideration of regulations and industry dynamics will be crucial to ensuring its success and maximizing benefits for all stakeholders involved.