Alberta iGaming Revenue Hits $122.1 Million in First Three Months

Alberta’s regulated iGaming market generated CA$122.1 million ($87.2 million) in non-adjusted gross gaming revenue (NAGGR) over its first three months, according to a market performance report from Alberta iGaming Corporation (AiGC). Connor McDavid of the Edmonton Oilers celebrates a first-period goal against the Carolina Hurricanes in Edmonton on Oct. 22. Sports betting market share in Alberta was 19.5% in the market’s first three months. (Image: Andy Devlin/NHL via Getty Images) The report covers the period running from July 13, when the market opened, to Sept. 30. Gaming Revenue Climbs Each Month According to AiGC, NAGGR reached CA$22.2 million ($15.8 million) in July, CA$43.3 million ($30.9 million) in August, and CA$56.6 million ($40.4 million) in September. Handle for the three-month period totaled CA$2.89 billion ($2.06 billion). When the market opened in July, 15 iGaming operators were licensed, and that number grew to 24 by the end of September. Licensed Operators Multiplies “Regulation matters,” said Dan Keene, AiGC CEO. “This is a market where approved iGaming operators are held to high standards of accountability, and where revenue stays in the province to fund programs and services Albertans rely upon.” As of today (Oct. 24), the Alberta Gaming, Liquor and Cannabis (AGLC) has issued 42 iGaming operator licenses. The AGLC site lists 52 iGaming sites live in Alberta, since several operators have multiple sites. That’s a number that jumped dramatically just before the province’s Oct. 13 deadline for unregulated sites to join the regulated space took effect. Casino Dominates Market Share In September, casino was the top market segment, accounting for 75.6% of the NAGGR, followed by sports betting at 19.5% and live casino at 4.9%. There were 388,585 active player accounts in September (not unique accounts, since players might have accounts with multiple operators). Average revenue per active player account was $146 in September. “Early results indicate that Albertans value the strong oversight and greater accountability offered by a regulated market,” said Keene. “We hope to continue educating Albertans about the risks associated with illegal offshore sites and move them onto regulated platforms where they have rights and recourse when iGaming.” How Alberta Shares Gaming Revenue Both Alberta and Ontario retain 20% of net iGaming revenue, with operators keeping 80%. In Alberta, though, the province first allocates 3% of gross gaming revenue to First Nations and to responsible gambling initiatives before applying the 80/20 split. The post Alberta iGaming Revenue Hits $122.1 Million in First Three Months appeared first on Casino.org.