Hamilton Spectator owners are launching an online casino
- Craig Clark
- 03 Mar 2021
Torstar Corporation, owners of the Hamilton Spectator, announced this week that they will be launching an online betting brand this year.
The brand will be within the regulated Ontario online gaming market and the launch date is only waiting for word from the Alcohol and Gaming Commission and Ontario government.
I remember the last time Torstar placed a big bet: https://t.co/UTdcq19zgw pic.twitter.com/i5fcxckPAi
— Oliver Sachgau (@sachgau) March 1, 2021
“We are excited at the prospect of participating in a regulated online Ontario gaming market with a made-in-Ontario product,” said Corey Goodman, Chief Corporate Development Officer at Torstar, in a statement.
“As an Ontario-based media business and trusted brand for more than 128 years, we believe Torstar will provide a unique and responsible gaming brand that creates new jobs, offers growth for the Ontario economy and generates new tax revenue to help support important programs in our province.”
The 2019-2020 Ontario budget outlined a promise that licensed private operators can operate in a regulated online gaming market in the province.
With government regulation, the online gaming market is expected to grow quite rapidly with current players looking to grey market and offshore websites with Ontario residents spending more than $500 million on online betting last year.
“There are two reasons for our entry into this field,” said Paul Rivett, chair and co-owner of Torstar, in a statement.
“First, we want to ensure the new marketplace is well represented with a Canadian, Ontario-based gaming brand so that more of our players’ entertainment dollars stay in our province. Second, doing this as part of Torstar will help support the growth and expansion of quality community-based journalism.”
Torstar currently owns 70 weekly community papers, six regional daily papers, and other digital media companies including the Hamilton Spectator, Toronto Star, and iPolitics.
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