Ontario Lottery and Gaming Corporation has most recently published its annual report for the fiscal 2022-2023. The Crown agency disclosed another record-setting FY in which it delivered CA$2.5 billion in net proceeds to the province via its gambling operations. These results shattered the previous annual record of CA$2.3 billion clocked in 2019-2020.
It should be noted that at the start of FY 2022-2023, OLG was the only regulated gambling option in the Province of Ontario. But on April 4, 2022, the province kicked off its legal iGaming sector for third-party operators. Therefore, OLGās internet gambling proceeds are separate from those generated by third-party operators which are licensed to operate in the province.
Highlights from 2022-2023
Some highlights from the report, include OLG reporting a substantial 31% increase in digital gambling earnings to CA$669 million or CA$561 million in revenue and monthly player accounts spike by 22% in comparison to the previous FY. The Crownās digital business delivered just above CA$300 million in net profit to the province for the fiscal year.
OLGās Charitable Gaming program also recorded impressive numbers as it clocked its highest profits with 2,200 participating. Additionally, the Crown sent CA$123 million to Ontario First Nations via the Gaming Revenue Sharing and Financial Agreement. It also paid CA$330 million in commissions to lottery retailers and CA$116 million to the horse racing industry.
Meanwhile, OLGās retail PROLINE sports betting brand delivered CA$293 million in revenue and accounted for 7% of lottery numbers. Interestingly enough, its PROLINE revenue remains similar to the previous fiscal year, despite the debut of the new iGaming framework in 2022-23. Meaning, that Ontarians are still quite fond of retail sports wagering.
Another noteworthy highlight from the fiscal year is that casino services providers finally launched retail sports wagering at 13 gambling locations across the province. This became a reality in October 2022, and it was the first time someone other than OLG offered in-person sports betting. Great Canadian Entertainmentās sites were among the first to offer new vertical.
In addition to that August 2022 saw the Crown agency kick off operations at its PROLINE+ digital sportsbook. With the launch, OLG also implemented PROPS games, giving more selection for players and also introduced POOLS games on its iGaming platform in October 2022. It also inked a partnership with Maple Leaf Sports & Entertainment to promote its sportsbook brand.
Private Sectorās Numbers
To put numbers into perspective, Ontarioās legal market for online gambling which started on April 4, 2022, delivered CA$1.4 billion in total gambling revenue from a CA$35.6 billion in wagering volume in its first year. By adding to that number OLGās CA$561 million in digital revenue from 2022-23, the province has accumulated approximately CA$1.96 billion from iGaming proceeds.
Source: Warren, Greg āOLG releases annual reportā Canada Sports Betting, October 19, 2023
