The Ontario gaming industry has kicked off the fiscal year with a bang, reporting a staggering 31% year-over-year increase in wagering during the first quarter of 2021. This surge in activity comes as a welcome relief for the province’s gaming operators, who have been facing significant challenges due to the ongoing COVID-19 pandemic.
According to the latest data from the Ontario Lottery and Gaming Corporation (OLG), total wagers for the first quarter of 2021 reached an impressive $1.2 billion, up from $900 million during the same period last year. This surge in wagering can be attributed to a number of factors, including the easing of pandemic restrictions and the growing popularity of online gambling.
“We are thrilled to see such strong numbers in the first quarter of the fiscal year,” said OLG President and CEO Duncan Hannay. “This increase in wagering demonstrates the resilience of the Ontario gaming industry and the continued demand for entertainment options among consumers.”
The increase in wagering was driven by a variety of gaming options, including casino games, sports betting, and lottery sales. The OLG reported that casino gaming saw the largest growth, with total wagers reaching $800 million, up from $600 million in the first quarter of 2020. Sports betting also saw a significant increase, with total wagers reaching $300 million, up from $200 million last year.
In addition to the growth in traditional gaming options, online gambling has also seen a surge in activity. The OLG’s PlayOLG platform reported record-breaking numbers during the first quarter, with total wagers reaching $100 million, up from $50 million last year. This increase in online gambling activity has been attributed to the closure of land-based casinos and the growing popularity of virtual gaming options.
Despite the positive trends, the Ontario gaming industry still faces challenges ahead. The OLG has warned that ongoing pandemic restrictions could impact future growth, and that continued vigilance is needed to ensure the safety of both employees and customers.
“We are optimistic about the future of the Ontario gaming industry, but we must remain cautious in the face of ongoing challenges,” said Hannay. “We will continue to monitor the situation closely and take all necessary precautions to ensure the safety and well-being of our customers and employees.”
Overall, the strong start to the fiscal year is a promising sign for the Ontario gaming industry, which has been hard hit by the COVID-19 pandemic. With continued growth in wagering and a renewed sense of optimism, operators are hopeful that the rest of the year will bring further success and stability to the sector.
