Online gaming industry in Canada
12 May 2015
The Canadian Gaming industry is one of a kind and perhaps one of the most robust operations within the gaming industry and going from strength to strength, embarking on new avenues of lucrative inclusive growth markets, and waging to be the number one in the global industry of gaming. In recent months the Canadian online gaming industry have been of great significance, with the likes of gaming giant Amaya purchasing PokerStars and Full Tilt brands, extending their presence in other geographical locations across Canada and embarking on the international market through online gaming as a spearheaded force of success in the bag and in the making.
Recent developments within the gaming industry could direct the sense of atmosphere around the immediately direction and future for Canada in this respect and what impact it might have around the online gaming law landscape.
With a two directional gaming law course in terms of igaming direction, Canada has active markets setting the market pace. Regulated provincial gaming entities operating under the Canadian legal framework and the second with offshore igaming companies operating outside the legal framework
While no Canadian legislation regulates online gaming, gaming related sections within an applicable legal code makes it possible for both land-based and online gaming activities. An offshore gaming regulated law in place surely grants both Canadian and majority of international gaming companies to explore the market and operate in a legitimate authorised framework.
In Recent reports the media has suggested that Ladbrokes are contemplating on exiting the Canadian market space, taking into consideration the current and perhaps future legality issues around the region. Whilst other provincial land based gaming companies have spoken out against unlicensed offshore companies like Ladbrokes operating within Canadian borders, may well be decided on exiting the market and returning as a licensed contributing entity.
Gaming company Amaya has certainly showed resilience in both the Canadian and international market place. Still there are some resemblance of grey market areas which Amaya has withdrawn from, however they remain confident on home soil and global emerging markets. The acquisition of PokerStars and Full Tilt have given Amaya Gaming Operator the leverage to tip the scales in their favour especially with regards to the Canadian authorities.
The idea is to adopt a European style regularity framework which will entitle gaming companies to apply for a license to operate within the province. This will lobby the change and pave the way for the online gaming market’s continuous growth and include both local gaming entities exploring the market surge success.