Alberta iGaming Revenue Reaches CA$122.1 Million in First Three Months

Alberta's regulated online gaming market generated CA$122.1 million, roughly US$87.2 million, in gross gaming revenue in the first three months after it opened on July 13. The figures come from the market performance report of the Alberta iGaming Corporation (AiGC).

According to the report, revenue was CA$22.2 million in July, CA$43.3 million in August and CA$56.6 million in September. Total betting volume over the period reached CA$2.89 billion. When the market opened, there were 15 licensed operators, and that number rose to 24 by the end of September.

AiGC CEO Dan Keene said the regulation matters, noting that approved operators are subject to high accountability standards and that revenue stays in the province to fund public programs. Keene said the early results show that Albertans value the oversight and accountability that a regulated market provides.

According to data from the Alberta Gaming, Liquor and Cannabis Commission, 42 iGaming operator licenses have been issued to date, and 52 sites are currently operating. The gap between the two figures exists because operators can run more than one site. The number rose noticeably after unregulated sites moved into the regulated market ahead of the October 13 deadline.

In September, casino games accounted for 75.6 percent of revenue. Sports betting took 19.5 percent, and live casino took 4.9 percent. The same month recorded 388,585 active player accounts, and average revenue per active account was US$146.

Alberta and Ontario retain 20 percent of net iGaming revenue, while 80 percent goes to operators. In Alberta, however, 3 percent of gross gaming revenue is set aside before that split for First Nations and responsible gambling programs.