A legal sports betting operator is expanding its reach in an emerging market.
NorthStar Gaming — an Ontario-based gambling operator — announced its plans to launch online betting sites across Canada in the coming weeks. The company, which went live with wagering in Ontario last year, has now secured licenses to offer its services in every Canadian province and territory providing access to a population of nearly 40 million.
"We are thrilled to take this groundbreaking step and become a truly national brand. As a Canadian company, we are confident we understand local consumers better than the large international competitors and that we offer a premium experience that best meets their needs," said NorthStar CEO Michael Moskowitz. "We expect the Canada-wide launch to be an important catalyst that drives growth in our customer base and revenues for years to come."
NorthStar is planning to launch its online sportsbook with several marquee features, including real-time sports news and statistics. The company will also offer personalized customer service.
Just getting started
NorthStar’s willingness to launch in new territories comes amid a push to expand the Canadian sports betting market. In August, PointsBet Holdings Ltd. CEO Sam Swanell mentioned the possibility of Alberta allowing private-sector sports betting operators. As of April 2022, Ontario is the only province in Canada that has authorized multiple private-sector providers to operate.
Alberta could allow multiple providers with the United Conservative Party back in power. The province currently has only one online operator, which is government-owned PlayAlberta.
Promising investment
NorthStar is poised to reap the benefits of an expanded market share following strong fiscal Q2 results in Ontario. The province reported a total betting handle of $14.2 billion during the quarter behind 47 operators.
The results helped Ontario generate $540 million in total gaming revenue in Q2 2024 with the help of 943,000 active player accounts. Casino gaming contributed $11.9 billion to Ontario’s total handle in Q2 while sports betting closed with a $1.9 billion handle.
The online sports betting and iGaming market in Canada is projected to reach $8.5 billion by 2026, according to PwC. More than 60% of the market is expected to be outside Ontario.
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