Ontario’s igaming market is outpacing initial five-year expectations on several metrics in only its second year of operations, according to a new report by Deloitte.
Deloitte’s Economic Contributions of Ontario’s Regulated iGaming Market – Year 2 report shows that the jurisdiction sustained 2,675 direct jobs in 2023-24, at 120 per cent of initial estimations.
Igaming’s contribution to government revenues in Ontario, which opened its regulated market in April 2022, were CA$2.7bn in the second year, up from $1.58bn in year one.
Overall, Ontario has already contributed 94 per cent of its five-year forecast for government revenues.
The total number of full-time jobs sustained by the Canadian province’s igaming market hit 14,935 in year two – up from 12,072 in year one – and are now at 92 per cent of the long-term predictions.
Gross domestic product contributions, meanwhile, are at 92 per cent of the five-year forecasts, rising to $1.40 for every dollar spent on igaming from $1.14 in year one.
“Our made-in-Ontario igaming sector is being recognised internationally for its success as a leader in this space,” said Attorney General Doug Downey.
“Working together with our partners and industry, we will continue to drive innovation and deliver robust player protections, all while displacing the unregulated market.
“Our igaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible igaming industry.”
Total government revenue generated through the igaming market passed $1.24bn in its second year, Deloitte’s report added, $790m of which supported provincial government revenues and $380m of which went to the federal government. The remaining $75m supported municipal government revenues.
“This report puts Ontario’s igaming market government revenue contribution at over $2bn since it launched,” said Heidi Reinhart, iGaming Ontario’s board chair, “and with job contribution up by 24 per cent from its first year, the benefits to Ontarians are significant.”
