GeoComply announces the opening of its new office in downtown Toronto. This is certainly proof that Ontario’s authorized iGaming market is seeing a massive expansion. The company claims to have 50 employees and the potential to hire an additional 50, and it has strategically located its office at 1 Richmond Street.
GeoComply was originally established in Vancouver and has an office in Montreal. The company is actively involved in safeguarding against deception and offering cyber safety solutions pertaining to the proper identification of a digital user. GeoComply struck the latest deal with Bet99, a certified iGaming operator in Ontario. The entity’s geolocation technology is set up on over 400 million devices and manages to study more than 1 billion transactions monthly.
In the case of the company’s initial office, it was officially established in 2022. It was situated in WeWork, a part of Liberty Village in Toronto, and was a lot smaller in area as compared to their latest office.
As stated by Lindsay Slader, Senior Vice President of Compliance, the organization had no idea where it was bound or how much it would accomplish in such a short period of time when it first commenced operations in Liberty Village. The region was selected so that they could establish a foothold in Ontario, but locating talent appeared to be an insurmountable battle. They are currently looking for skilled professionals in the technology field at their existing address.
According to the latest Canadian gambling news, Julien Crette, the chief executive officer, stated that the Toronto facility’s operations are primarily focused on commercial affairs, customer support, and the delivery of IT solutions. They are certain that by doing so, they will be able to successfully recruit exceptional talent and turn around their business.
Prominent figures such as Doug Downey, the Minister of the Attorney General for Ontario, and Vic Fedelli, the Minister of Economic Development, Job Creation, and Trade, were in attendance at the inauguration of their newly established office. In their company were, among others, senior executives, the CEO of Toronto Global, Stephen Lund, and employees of GeoComply.
In the opinion of Downey, the iGaming scenario is witnessing an upward trend. As per the statistics, in Q2, the Ontario market was known to be having 45 certified operators, along with over 70 gaming sites and more than 943,000 gamer accounts. The total betting amount reached the figure of more than $14 billion. He believes this proves the fact that their market has the maximum traction. Besides all of that, the iGaming space is responsible for generating 12,000 employment opportunities.
Slader believes the country is inclined towards certified gaming, and in the case of the unlicensed operators, they are kept away from the required backing with respect to responsible gambling. The need of the hour is to establish regulatory aspects in a proper fashion, as there are a lot of operators searching for avenues to get themselves registered.