Canada
Why Ethereum online casinos are so popular in Canada
Ethereum has continued to boom over the course of 2021, with the year having been rather receptive to the crypto token despite all of the issues that have had an impact on various other coins. Whether it be the comments to have been made by influential figures from around the world such as Elon Musk, or whether it be the decisions taken by governments around the globe who are concerned – and perhaps fearful – of what cryptocurrency can do to their financial state, Ethereum has managed to maintain steady growth and has managed to become a huge coin within the industry.
According to research and estimates, it is believed the market cap of the coin is in the region of around $243 billion, thus highlighting just how popular it has become. One industry to have benefitted from its rise is the online casino sector. Canadian Ethereum casino Winz.io is an online gambling platform that will allow bettors from the country to play with this particular form of crypto, as they have already recognized the boom and growth that the sector and the coin have managed to achieve over the last couple of years and since ETH was launched in 2015 by Vitalik Buterin.
Blockchain technology is a huge benefit for everyone
Online casinos will have looked to allow for the world’s second most sought-after token because it relies on blockchain technology. This tech will then allow users of the coin and the operators that accept them to receive the highest levels of security when a digital transaction is made. There are many other benefits that this coin provides to online casinos and holders who decide to wager with it. One of them is simply down to the fact that the coin has very little fluctuation value and, again, links with the fact that a high level of security is provided to any transaction used, thus making it a safe alternative payment method. Finding an online casino that accepts Ethereum is not always easy, but if a platform already offers users the possibility of depositing with Bitcoin, then that is a good start as both tokens will use blockchain technology.
Advantages & drawbacks of using Ethereum at online casinos
Ethereum is considered to be one of the ideal ways for Canadian gambling players to fund their online casino accounts as there are a number of benefits and advantages associated with the coin. Firstly, going back to the fluctuation point outlined above, as there is not much hype or interest in it as there are other forms of digital currency, the value of it remains relatively stable, thus making it less risky as the price will rarely alter without a moment’s notice.
Furthermore, the transactions made when using Ethereum have a longer validity period and the minimal fees that are involved when making a transaction make them more attractive and preferred over other options that may be available.
Lastly, the fact that ETH transactions use smart contracts are a major benefit and differentiates crypto from the other various alternatives that can be used. This is because smart contracts are an automated program that is specific to this particular digital coin in blockchain technology that allows for the transactions to run as smoothly and effectively as intended.
Unfortunately, there are some potential drawbacks in regards to using Ethereum in online casinos and some that may be too difficult for some to get their head around. Holders of the coin will already know that this crypto is less user-friendly compared to many of the other versions available, which is why it is not as popular as others. In addition, the coin is not as widely accepted at many online casinos, although many have been working hard to accept it but there is still a way to go before it does become as usable as many of the other options that can be found.
Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.
This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.
Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.
“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.
Play’n GO, the world’s leading casino entertainment provider, has announced further expansion of its Canadian operations via a partnership with leading operator PointsBet in the province of Ontario.
The Swedish-founded gaming giant’s games will now be available to PointsBet players in the Canadian province, meaning classic titles such as Book of Dead, Rich Wilde and the Tome of Madness, and Reactoonz will now be available on the PointsBet platform.
The province of Ontario regulated online casino gaming in 2022, which saw Play’n GO enter the Canadian market for the first time. The company expanded into the province of Quebec earlier this year, and, as of June 2024, is also a proud member of the Canadian Gaming Association.
Magnus Olsson, Chief Commercial Officer at Play’n GO, commented, “Back in 2022, I said that “North America is right at the top of Play’n GO’s priority list, and Ontario is just the first step we plan to take”. This partnership with PointsBet shows we have yet to take our foot off the gas. We’ve proudly watched our games become instant hits in our two and a half years in the Ontarian region, and we have no plans to slow down any time soon.
“It’s exciting to team up with a fellow Canadian Gaming Association member in PointsBet, and we can confidently say that we are working towards the same goal of a safe, regulated industry that is focused on player entertainment. We’re looking forward to working closely together following this milestone announcement.”
Scott Vanderwel, Chief Executive Officer at PointsBet, shared “Play’n GO has built a strong reputation for delivering high-quality game content, and we’re thrilled to bring their titles to our platform. At PointsBet, our focus is on providing a safe and engaging entertainment experience for our players, and it’s clear that Play’n GO aligns with those values. Canadian casino enthusiasts recognize PointsBet as a trusted leader in iGaming, and this collaboration further enhances the exceptional experience we offer.”
Canada
VICI Properties Inc. Enters into Agreement with Indigenous Gaming Partners Related to PURE Canadian Gaming
VICI Properties Inc. announced that it has entered into an amendment and consented to the assignment of the master lease agreement with PURE Canadian Gaming Corp. (PURE) to an affiliate of Indigenous Gaming Partners Inc. (IGP), in connection with the acquisition of the operating assets of PURE by an affiliate of IGP.
IGP is a partnership of five institutional First Nations established to acquire gaming assets in North America. IGP has partnered with Sonco Gaming, one of Canada’s most experienced casino developers and managers, who will assist in the sourcing and execution of casino gaming investments, as well as management oversight of IGP’s portfolio.
Danny Valoy, Vice President of Business Development and Acquisitions, said: “This transaction demonstrates VICI’s ability to collaboratively work with existing partners while building new relationships with highly experienced operators and First Nations in international jurisdictions. We are pleased to welcome IGP as a new partner, and we look forward to expanding our relationship with IGP and Sonco as they pursue additional growth opportunities in the future.”
Anthony Novac, CEO of Sonco, said: “We are excited to work with VICI, an established partner in providing financial solutions to the gaming industry. We believe having a partner like VICI will give us a competitive advantage as we seek growth opportunities in the Canadian market.”
In connection with entering into the amendment to the PURE Canadian master lease, VICI received a 5-year right of first offer (ROFO) on future sale-leaseback transactions. Any additional properties acquired pursuant to the ROFO will be added to the master lease.
The annual base rent of C$22.0 million (US$15.5 million based on the CAD:USD exchange rate as of December 9, 2024) and other economic terms of the PURE Canadian master lease will remain unchanged, including a base term of 25-years with four 5-year tenant renewal options, escalation of 1.25% per annum in lease year 3, with escalation equal to the greater of 1.5% and Canadian CPI (capped at 2.5%) starting in lease year 4, and a minimum capital expenditure requirement equal to 1.0% of annual net revenue. The lease, currently in lease year 2 and escalating on February 1 of each year, encompasses the following assets in Alberta, Canada: PURE Casino Edmonton, PURE Casino Yellowhead, PURE Casino Calgary and PURE Casino Lethbridge.
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