888 has been granted a license to operate in Ontario and is set to be one of the first private operators to launch in the market.
This comes shortly after the recent news that confirmed Ontario's igaming market will be live from April 04, 2022.
Ontario Set to be a Lucrative Market
The company will be required to pay C$100,000 to have their website be made active in the Canadian province, but that should only be a small requirement with the rumoured numbers the market is scheduled to be worth within a year of its launch.
Estimates by gambling compliance company VIXIO have suggested that the total gross revenue for igaming in its first year will be $777 million, and 888 couldn't help but have their slice of the pie.
"The approval of the licence 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 an announcement once the licence had been confirmed
888's work is not done yet though; it is still necessary that they meet the final regulatory requirements and conclude on an operating agreement with iGaming Ontario (IGO).
So far, the other operators who have also landed licenses in the North American province are PointsBet and Penn National Gaming brand theScore.
Popular operators BetMGM, FanDuel, and DraftKings are likely to follow suit soon, with the opportunity in Canada's most populous province proving too good to pass up
888 Looking to Replicate the Success They've Had in the US
888 has already enjoyed a lengthy, successful period in the US with them becoming the first exclusively online casino to be licensed in the United States in 2013, so it is no surprise that they have opted to offer up their services in Canada now too.
888 CEO Itai Pazner indicated how pleased he was with the license being awarded and that they had decided to be a part of Ontario's online presence from the very start.
"As a group, our focus is on strengthening our presence and offer to customers across key regulated markets," Pazner said.
"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," he concluded.
