888 granted Ontario license
London-listed operator hails “attractive long-term growth opportunity” ahead of launch on April 4
888 has been awarded a license to operate in the soon-to-regulate Ontario market.
The London-listed operator will be among the first to launch in the market when it debuts on April 4.
“The approval of the license in Ontario is an important step in 888’s growth strategy, which focuses on expansion in attractive regulated markets, with Ontario representing an exciting long-term growth opportunity,” 888 said in a statement confirming the license award.
Under current Ontario licensing standards, operators must pay an application fee of C$100,000 (£58,000) per site, as well as an annual fee of C$100,000.
Supplier fees are much cheaper and start at C$3,000 for a gaming equipment provider, rising to C$15,000 per annum for a manufacturer of gaming equipment.
Prior to launching its internet gaming services, 888 must satisfy all remaining regulatory requirements and execute an operating agreement with iGaming Ontario, AGCO’s regulated igaming operator.
iGaming Ontario was set up by AGCO to “conduct and manage” igaming within the province and companies operate gaming sites in the market on behalf of the province in accordance with these agreements.
888 joins PointsBet, Penn National Gaming brand theScore, and esports betting operator Rivalry in obtaining licenses to operate in the Canadian province, with BetMGM, FanDuel, and DraftKings all expected to be awarded licenses in the near future.
888 CEO Itai Pazner welcomed the license award, highlighting the benefits of being in the market from day one.
“As a group, our focus is on strengthening our presence and offer to customers across key regulated markets,” Pazner explained.
“To that end, Ontario represents an attractive long-term growth opportunity for 888 and this is an extremely strategically important milestone for us.
“As we prepare for launch in the coming weeks, we are excited to bring all of 888’s leading products and games to new audiences across the province, providing our unique and differentiated experiences to players,” Pazner added.