Alberta’s regulated iGaming market generated CA$122.1 million ($87.2 million) in non-adjusted gross gaming revenue (NAGGR) over its first three months of operation following its July 13 launch, according to a market performance report from Alberta iGaming Corporation (AiGC).

The report covers the period running from July 13, when the market opened, to Sept. 30.

Gaming Revenue Climbs Each Month

According to AiGC, NAGGR reached CA$22.2 million ($15.8 million) in July, CA$43.3 million ($30.9 million) in August, and CA$56.6 million ($40.4 million) in September. 

Handle for the three-month period totaled CA$2.89 billion ($2.06 billion).

When the market opened in July, 15 iGaming operators were licensed, and that number grew to 24 by the end of September.

Licensed Operators Multiply

“Regulation matters,” said Dan Keene, AiGC CEO. “This is a market where approved iGaming operators are held to high standards of accountability, and where revenue stays in the province to fund programs and services Albertans rely upon.”

As of Oct. 24, Alberta Gaming, Liquor and Cannabis (AGLC) has issued 42 iGaming operator licenses. The AGLC site lists 52 iGaming sites live in Alberta, since several operators have multiple sites. 

That’s a number that jumped dramatically just before the province’s Oct. 13 deadline for unregulated sites to join the regulated space took effect.

Casino Dominates Market Share

In September, casino was the top market segment, accounting for 75.6% of the NAGGR, followed by sports betting at 19.5% and live casino at 4.9%.

There were 388,585 active player accounts in September (not unique accounts, since players might have accounts with multiple operators). Average revenue per active player account was $146 in September.

“Early results indicate that Albertans value the strong oversight and greater accountability offered by a regulated market,” said Keene. “We hope to continue educating Albertans about the risks associated with illegal offshore sites and move them onto regulated platforms where they have rights and recourse when iGaming.”

How Alberta Shares Gaming Revenue

Both Alberta and Ontario retain 20% of net iGaming revenue, with operators keeping 80%. In Alberta, though, the province first allocates 3% of gross gaming revenue to First Nations and to responsible gambling initiatives before applying the 80/20 split.