Ontario regulator promotes from within for new chair
Sitting board member and iGaming Ontario chair Dave Forestell steps up to top job
The Alcohol and Gaming Commission of Ontario (AGCO) has confirmed the appointment of Dave Forestell as the new chair of its board of directors.
Forestell, a sitting member of AGCO’s board, joined the regulator in December 2018.
He currently serves as the chair of iGaming Ontario, having been at the helm since its inception in July 2021.
However, it is understood that Forestell has stepped down from his role at iGaming Ontario to takeover leadership of the AGCO board, with a search for a replacement currently underway.
iGaming Ontario functions as Ontario’s ‘conduct and management’ entity, with which prospective gambling operators sign contracts to offer igaming and sports betting in the province.
Forestell also serves as VP external relations (Canada) for TC Energy, having previously held roles including VP international corporate and commercial banking, and as VP, office of the president and CEO at Scotiabank.
He replaces former AGCO chair Lalit Aggarwal, who stepped down from the role last week to spend more time with his family and focus on business affairs.
Aggarwal had briefly been replaced on an interim basis by AGCO vice-chair Heidi Reinhart, who remains in her role under the new permanent chair.
Last week, iGaming Ontario reported total wagers across all legal verticals of C$14bn during the first quarter of 2023.
Provincially licensed operators generated C$545m in total gaming revenue during Q1 2023, with 46 operators utilizing 71 websites in Ontario.
A total of 920,000 player accounts were active in Ontario during Q1 2023, operating with an average monthly spend per active player account of C$197.
Online casino game handle accounted for C$11.6bn in total handle over the Q1 period and C$392m in gaming revenue over the same period.
Sports betting accounted for C$2bn of Ontario’s C$14bn handle and C$138m of total revenue in Q1 2023.