Canada’s Got Eyes On The Gambling Industry
In late August of this year, the vice president of the Canadian Gaming Association, Paul Burns, sat down with CalvinAyre.com’s Stephanie Raquel to talk about Canada’s future plans for legalized gambling. He explained that Canada is in a position to navigate itself through legislation to become one of the premier gambling destinations of the North American continent. According to the vice president, stakeholders along with Canadian government officials are banding together to create a successful gambling industry that will work to attract tourism to their provinces. The interview did not include mention of existing Canadian online casinos, poker sites or sportsbooks or plans to expand domestically based online interactive gambling options.
Two weeks before the VP’s interview, the Great Canadian Gaming Corp (OLGC) and the Brookfield Business partners LP were granted a license to run gambling operations in the Toronto area. The Toronto area is widely held as one of the most profitable regions for this type of entertainment. It is estimated to be worth upwards of $788 million dollars USD in gambling related revenues. The OLGC decided to auction off the casino operation to a private firm with more experience so that they might boost the revenue in the region even further.
Mr. Burns explained in the interview that there is a large portion of capital investment that has been pouring into the casino industry and will continue in the years to come with the new investments and properties being developed in the Ontario area. “That’ll be exciting as Canada is looking to reinvent, reengage customers with new offerings.” However optimistic he seems, he is also aware of the challenges that lay before him. He continued in the interview to talk about how hard it will be to keep pace with the ever-evolving technology related to gambling and the changing demographics as most baby boomers are getting older and millennials are simply just not that interested in gambling. “Truly understanding how to engage and build those relationships is really important, so, that’s what I think everyone is trying to find the best way to continue to build those customer experience that people want and continue visit the casinos.” Since keeping pace with evolving gambling technology seems to be a priority, it is logical to assume that industry markers catering to online poker sites accepting Canadian players as well as online casinos and sportsbooks could be a part of that mission.
Overall, the vice president has an optimistic outlook on the changing face of gambling in Canada and the revenue that it can bring it for the social programs and civic responsibilities of the provinces that allow it. He also understands that Canadian gambling operators will have to work double time if they wish to compete with the gambling powerhouses of the North American continent in Atlantic City, New Jersey, and Las Vegas, Nevada.