The Ontario Lottery and Gaming Corporation foresees online gaming revenue going over the CA$1 billion mark by 2028, thanks to the growing regulated market and strong competition from private operators
Ontario’s experiment with a regulated, competitive iGaming market appears to be paying off, not just for private operators, but for the Ontario Lottery and Gaming Corporation (OLG) as well.
TRM Public Affairs: “This Model Is Working Well”
According to OLG’s newly released Fiscal 2025-2028 Business Plan, both traditional and online gambling revenue are on the rise. The organization expects to surpass CA$1 billion in annual online revenue by 2027–2028, signaling an impressive 41% growth in the upcoming four years.
According to OLG’s projections, its land-based gaming operations are expected to grow 7% to CA$4.65 billion in the 2024–2025 fiscal year.
Meanwhile, online gaming is expected to climb steadily, from CA$819 million in 2024–2025 to CA$1.049 billion by 2027–2028. In fiscal year 2023-204, online gaming reached CA$745 million.
Troy Ross, president of TRM Public Affairs, said the numbers reflect the success of the regulated model introduced in 2022, when Ontario opened the door to private operators under strict oversight.
“What I find interesting is we now have three years of data that suggests that a regulatory regime alongside the lottery channels almost 90% of the play”, said Ross, adding “the evidence is this model is working well”.
According to Ross, most grey market operators either exited or obtained licenses after the Alcohol and Gaming Commission of Ontario gave them a deadline of October 31, 2022, to comply. Today, OLG and 49 licensed operators serve the province’s players.
Customer Centric View Approach Pays Off
OLG’s chief gaming officer, Dave Pridmore, echoed the positive outlook, emphasizing the role of competition in pushing the crown corporation forward.
“We feel the continued success of OLG.ca is based on that fact that we take a customer centric view on our digital operations to continually improve our overall experience,” he said.
He also highlighted accessibility efforts, such as the launch of Red Panda Tails of Wealth, the first digital slot game with built-in features for players with disabilities.
As the iGaming landscape matures, OLG is not only holding its ground but rather thriving. Net profit returned to the province is expected to rise from CA$2.6 billion in 2024–2025 to CA$3.2 billion by 2027–2028, supporting public services and community programs across Ontario.
“It is an ambitious goal that will also benefit charities, host municipalities, and First Nations and requires us to push forward in optimizing all of our products, channels, and services.”, the report further added.
OLG’s business plan also praised its unique position in the competitive digital market, while foreseeing “strong growth potential” ahead by leading “with a higher purpose” and continuing to deliver “unmatched, integrated, and secure” experiences.
