iGO’s first quarter result reaches $14 billion

iGaming Ontario’s first quarter result for 2023-24 reaches a high of $14 billion, as compared to the previous year’s $13.9 billion. This is as per the official declaration of iGO. If the figure of $14 billion is dissected, casino games, along with slots, live and internet-oriented table games, and peer-to-peer bingo, were responsible for generating the approximate amount of $11.6 billion, which comprises nearly 83% of the total revenue obtained. Their contribution amounted to $392 million, which is equivalent to 72% of the total gaming revenue of $545 million. 

Following this was the revenue generated through betting and gambling on online casinos, sports betting, esports, and novelty bets, which amounted to $2 billion, equivalent to 14%, along with earnings from gaming standing at $138 million, or 25%. What was left was through peer-to-peer poker, standing at a figure of $350 million, in the case of betting amount, which speaks of 3%. The gaming revenue stood at $15 million. 

The year 2022 witnessed the contribution from casino games reaching the figure of almost $28 billion, or 78% of the total betting amount. $940 million, or 67%, came from gaming, and betting was responsible for $7 billion, or 20% of the total betting amount. P2P poker brought in $992 million, amounting to 3%. 

As per the report released by iGO, the first quarter witnessed the participation of 920,000 players. On average, each player was dishing out an amount of $197 on a monthly basis. In the fourth quarter, the figure was $174. Between the 1st of April and the 30th of June, gaming websites saw a downslide, from 75 to 71. However, in the case of the operators, the figure reached 46.

In June 2023, iGO came out with a report which was penned by Deloitte, speaking of the economic influence on the gaming industry after the regulatory body was set in place in April 2022. Ontario’s share was $1.54 billion, out of which $900 million went towards salaries and helped in creating approximately 12,000 employment opportunities.