Ontario’s Q2 FY 2024-25 iGaming Market Report
Ontario’s Q2 FY 2024-25 iGaming Market Report
The Canadian Gaming Association’s President and CEO, Paul Burns, recently announced that the financial statistics for Ontario in Q2 FY 2024-25 depict a truly matured landscape for the igaming market. This shift toward stability and growth is based on data from the latest iGaming Ontario market performance report, which was made available on Thursday.
Key Highlights from Q2
- Total wagers reached an impressive $18.7 billion, reflecting a 1.6% increase compared to Q1 FY 2024-25 and a remarkable 31.7% increase year-over-year compared to Q2 in 2023-24.
- Overall gaming revenue was documented at $738 million, showing a 1.7% increase from the previous quarter and a significant 35.4% increase year-over-year.
- As of Q2, there are 51 operators and 83 licensed gaming websites actively serving the market.
Market Growth and Operator Performance
The competitive landscape of the Ontario iGaming market has been evolving since its launch in April 2022. Notably, these financial figures do not include the revenues generated through the Ontario Lottery and Gaming Corporation (OLG), as highlighted by Burns. In his recent address at a panel during G2E in Las Vegas, he emphasized how operators are currently achieving their expected benchmarks, with advertising normalizing and the regulator, AGCO and iGO, continuing to integrate new operators to fill the gaps left by those who departed.
The Shift to a Mature Market
According to Burns, the statistics now reflect a more mature market, which is vital for ensuring long-term sustainability for both the province and the gaming industry at large. He articulated, “These results indicate what we anticipated for our market – improvements in performance and stability as operators solidify their presence.
