Bloomberg, "Online Gambling Firms Expect Ontario to Lift Key Operator Ban"
This article discusses anticipated regulatory changes in the November 5, 2020 provincial budget to Ontario’s online gaming industry, allowing private operators into the market. Danielle Bush comments on the statement that “Legalized online gambling in Ontario would generate about C$547 million in annual revenue after five years…how much that adds to Ontario’s coffers depends on the tax rate that’s applied. Most European countries tax online gambling at 15% to 25% of gross revenue…”
Ontario is expected to set a “reasonable” rate compared to global peers, according to Danielle Bush, a partner at Miller Thomson LLP in Toronto and the corporate secretary of the Canadian Gaming Association.
“About 18% to 20% is what’s floating around within the industry,” she said. That would work out to C$100 million to C$110 million in tax revenue for a province that’s projected to have a C$38 billion deficit this year.