Casino News: $16 Billion Gambling Bonanza for Canada

The Canadian economy looks set to cash in on a $16 billion bonanza, as provincial governments in the country start moving towards a regulation of online gaming. Since 1995, the revenue generated by legalised gambling in Canada has almost tripled. The cash generated exceeds the combined revenues created by book sales, magazine sales, spectator sport, movie theatres and performing arts.

“Our industry supports more than 128,000 full-time jobs, 283,000 associated jobs and generates $12.5 billion in labour income and $8.7 billion in annual revenues remitted to the government,” says Vice President of the Canadian Gaming Association, Paul Burns.

In Quebec, a new online gambling system has been unveiled, and it alone is set to generate more than $50 million a year. In Ontario, a new gambling system is also anticipated to bring in millions of dollars.

Technology firms in the country will also be set to profit, claims Burns, adding, “I would estimate that gaming companies in the field will be purchasing anywhere from $4 billion to $7 billion in products and services. That's a lot of opportunity for Canadian SMBs.” The news is also expected to generate demand for HD technology, IT security experts, and IT administrators. It is also anticipated there will be a demand for smart phone app designers.

Michael Dominelli, vice-president of marketing for NRT Technology Corp, says, “It's interesting to find out if players will flock to online casino games, He also added, “But whichever way the tide goes, I see a growing demand for companies that can provide cash handling transactions and securely handle gamer information.”

Other provinces are following suit. For example, Quebec rolled out a new online gambling system that is expected to generate more than $50 million a year. Ontario is also set to launch a new online gambling system by 2012 that is expected to rake in $400 million in revenues each year, he said. These developments are going to be a boon for many small and medium sized (SMB) technology firms in the country, according to Burns.

The opportunities are not limited to online game developers, according to Burns. “There will be a huge demand for HD technology experts for playing screens, IT security experts and IT administrators and service technicians.”
He also expects a demand for mobile app experts. “Increasingly there is a focus towards new game delivery technology. In B.C. Lottery is planning to offer games to mobile device users.”

Michael Dominelli, vice-president of marketing for NRT Technology Corp. says the industry will soon be needing tech talents in finance and cash transaction software and hardware development.

NRT manufactures cash handling kiosks specially designed for casinos. The machines operated much like regularautomated teller machines (ATM) but they have added features such as cashing in gaming machine tickets and dispensing player points. NRT provides machines to casinos in Las Vegas, Macau and Singapore.