Ontario’s iGaming market has been a major success story, bringing in over CAD$2 billion in revenue for the provincial government in just two years. This growth has also resulted in the creation of nearly 15,000 full-time equivalent jobs, showcasing the sector’s economic impact.
Attorney General Doug Downey emphasized the international recognition that Ontario’s iGaming industry has garnered, highlighting the province’s commitment to innovation and responsible gaming practices. The sector has not only provided job opportunities but has also demonstrated Ontario’s dedication to building a sustainable and thriving iGaming market.
Deloitte’s report further underlines the economic contributions of the iGaming market, with government revenues reaching $1.24 billion in the second year. This revenue has supported various levels of government, including provincial, municipal, and federal, showcasing the widespread benefits of the industry.
In terms of GDP contribution, the iGaming market has had a significant impact, supporting $2.7 billion in Ontario’s economy in its second year. This growth represents a 70% increase from the previous year, highlighting the sector’s rapid expansion and economic significance.
The report also details the job creation aspect of the iGaming market, with nearly 15,000 full-time equivalent jobs sustained in its second year. This increase in employment opportunities further solidifies the industry’s role as a key contributor to Ontario’s workforce.
Comparing the results from the first and second years, the growth of Ontario’s iGaming market is evident. The sector has seen substantial increases in GDP contribution, labor income, and employment, showcasing its positive impact on the province’s economy.
Overall, Ontario’s regulated iGaming market has proven to be a driving force in job creation, economic growth, and government revenue generation. The sector’s success highlights the potential of the iGaming industry to contribute significantly to the local economy and create sustainable opportunities for Ontarians.
