Alberta Delays Sports Betting Market Launch to 2025

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Transcript

00:00All right, let's dive into latest in sports betting and we'll start off with your neighbor

00:07in Canada here.

00:08We'll talk about Alberta.

00:09Some unfortunate delays here going into next year.

00:12I know that they're trying to do some different things.

00:13Tell us what they are and what happened.

00:15Yeah.

00:16So, I mean, we knew that Alberta was coming next and then earlier this year, Dave Nally,

00:21the minister of red tape reduction, maybe the coolest title there is, you know, told

00:26the Canadian gaming summit.

00:28He is indeed working on regulations.

00:30This was back in June, you know, maybe we'll get it up by the gray cup, which I think is

00:33next month or, and you know, or at least before 2025, well, you know, we've heard operators

00:41getting excited about it during the August earning season, you know, Hey, we'll get a

00:45new market here soon because it is going to be an open market, open commercial market

00:49for sports betting and online gaming, just like Ontario.

00:53So operators are excited about this.

00:55It's a high GDP per capita province with, you know, a very young population that likes

01:02to gamble judging by the stats that they have.

01:07But as it turns out, we got word last week from the red tape department that it will

01:14be pushed back to 2025 at least.

01:17And then I was not a G2E because I was on vacation, but you know, we had several people

01:22there who heard Mr. Nally talk about the process and kind of what's going on.

01:28And there, he said, he hopes by next October at the next G2E, he's able to talk about having

01:33an open market.

01:34So, you know, this is going to be a long process earlier this year.

01:37Again, he talked, you know, they have to talk to all the stakeholders and figure out exactly

01:41what people want and everything like that.

01:43We know it's going to be very based on what Ontario has done.

01:48But ultimately that, you know, they're still going to make adjustments and stuff.

01:51And he said, right now the stakeholders and himself, Mr. Nally wants more time to figure

01:56things out.

01:57So we'll see what happens when it might launch again, they had hoped before 2025.

02:04Now it's at least going to be later in 2025.

02:07He said he hopes to get some amendments going to their provincial gambling act in the spring.

02:13So, you know, people were hopeful that we'd have a new market going online in North America

02:18sometime this year.

02:21Not at this point now, and that is a little unfortunate for operators, but hey, they want

02:25to get it right and have a very successful market and you can't blame them for that.