Great Canadian Gaming continues to fight for its right over online sportsbooks. Just days ahead of lunch, the Great Canadian Gaming submitted a report according to which many jobs will be lost if land-based casinos don’t take control over online wagering. However, many critics say that an open market will lead to a completely opposite result.
Only a few days before Ontario’s launch of a private market for online casinos and bookmakers, Great Canadian Gaming decided to urge Ontario’s local government to change its plans for one last time. This Canadian casino company made a last-minute report according to which many people will be fired due to the open market situation.
Considering that Great Canadian Gaming operates as many as 12 casinos in this province, this plea with the local government was made on firm grounds. Moreover, the report was shared with Ontario’s government as a part of GCG’s commitment to improving the local gaming industry.
According to this report that was submitted towards the end of the last year, the open market could potentially destroy land-based casinos. What is more, over 2,600 jobs could be lost and the brick-and-mortar casino owners would face a loss as well as the local authorities that would experience a loss in tax revenue of $2.8 billion.
However, not everyone agrees with these findings. Many critics have stood up against these findings and claim that an open market would only benefit Ontario’s iGaming industry. These critics of GCG’s report believe that an open market for gambling and sports betting will only result in new job opportunities for Canadian people.
On the other hand, Great Canadian Gaming believes that an open market presents a real danger to all land-based casinos and that they should control all online betting activities within Canadian borders for at least two years. And if that wasn’t enough, they also ask for heavy penalties for all unregulated betting sites as well as bettors who register with them.
It goes without saying that land-based casinos have suffered great losses due to extensive shutdown periods during the pandemic. So, their reaction to another possible hit to the casino business is only natural.
In general, they do not oppose the idea of online gambling or online betting. But, they wish the local Ontario authorities to be aware of their concerns for the future. Another blow to the local brick-and-mortar casinos can be devastating, and the government should work together with the owners so they would find a solution for the recovery of these businesses.
Unfortunately, people from the iGaming industry don’t agree with GCG and claim that they have submitted the report too late for anything to be done about it. Also, they are adamant about the fact that GCG’s report is based on false claims.
The main players from the iGaming industry strongly believe that online casinos and online sportsbooks that are run on a private market can only be an addition to the traditional market in Ontario. And if anything, they believe that the more time is spent waiting for the online operators to go live, the more money is lost.
Since multiple local and international operators have already made great investments in the preparation for the new market, there are many who believe that GCG’s report did in fact come in too late.