What Happened

When Ontario launched its competitive iGaming market in April 2022, it was designed to attract international operators already serving consumers in other regulated markets. The AGCO’s registration process was structured to accommodate companies with established regulatory track records in recognized jurisdictions, including the UK, Malta, Isle of Man, Gibraltar, and others.

Why It Matters

The composition of the operator market — which companies participate, under what conditions, and with what track record — affects consumer protection, market competition, and the provincial government’s revenue. Understanding how market entry works provides context for evaluating news about specific operators.

The AGCO registration process involves:

  1. Application to the AGCO for Internet Gaming Operator registration
  2. Suitability review: assessment of the applicant’s ownership structure, financial standing, regulatory history in other jurisdictions, and integrity standards
  3. Technical review: verification that systems meet AGCO technical standards
  4. Responsible gambling requirements: confirmation that RG tools required by the Standards are implemented
  5. Advertising standards compliance: confirmation of processes for complying with marketing requirements

The iGO operating agreement: Separately from AGCO registration, operators must enter into a commercial agreement with iGaming Ontario that establishes revenue-sharing terms and operational conditions. The terms of these agreements are not fully public, though iGO has published general information about its operating model.

Suitability as ongoing: Registration is not a one-time approval. Operators are subject to ongoing obligations to notify the AGCO of material changes — including ownership changes, changes in directors, and material corporate events. Regulatory history in any jurisdiction continues to be relevant.

The non-Canadian companies dynamic: The majority of companies registered in Ontario’s market are headquartered outside Canada. This is a structural feature of the international iGaming industry, where established operators from UK and European markets have expanded to regulated jurisdictions globally. Canadian regulators assess foreign entities’ suitability using information from home-jurisdiction regulators, with the AGCO having established information-sharing relationships with recognized foreign regulators.

What’s Next

The mix of operators in Ontario’s market will continue to evolve through new entrants, M&A activity, and any exits. Tracking AGCO’s public register is the most reliable way to monitor the current state of operator participation.

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