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Alberta Could Be a Top 8 iGaming Market in North America, Analyst Says

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If all goes according to plan, the next gold rush for the online gambling industry could be in Alberta.

There is just one legal iGaming provider in Alberta at the moment, the government-owned Play Alberta. That may soon change.

Citizens JMP Securities’ Jordan Bender said Wednesday that the investment banking firm calculates a competitive Alberta iGaming market could generate around $709 million to $734 million US in annual revenue by the third year of its existence. The comments come after Dale Nally, the Minister of Service Alberta and Red Tape Reduction, confirmed at the Canadian Gaming Summit in Toronto last week that his province plans to move to an “open and free” iGaming market, similar to what Ontario has done.

Play Alberta also generated $179.7 million in net sales for the fiscal year ended March 31, 2023, up from $144.9 million for 2021-2022 and $37 million for 2020-21, the site's first year.

 

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