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“Some of them [investors] that were looking at Japan were looking at a big IR licence or nothing. With Tokyo and Yokohama being out of the mix, maybe some weren’t as interested anymore and decided to sit back, and wait and see how regulation and licensing shake out.”
One concern for operators is “the short duration of licences and renewal of licences”, notes Leckert. For operators, the casino business licence is renewable every three years, while the IR development-plan authorisation runs for 10 years, in contrast to the 18-year IR licence term in the Philippines, for instance.
Limiting the duration of licence validity “puts the entire capital investment at risk”, says Klebanow. Further regulations, including limiting residents to 10 visits per month and requiring them to present a ‘My Number Card’ when gambling, further erodes project viability. “Ultimately, casino developers individually concluded that developing an IR was too risky, and they took their billions of dollars in potential capital investment and walked away,” observes Klebanow.
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“At the end of the day, this is not about revenue. This is about channelization,” Nally added. “How much of that black market can we channelize into the legal, regulated market?”
According to Nally, approximately 70% of online gambling in Alberta occurred through unregulated operators prior to the July 13 launch, with the remaining 30% flowing through Play Alberta, the province’s sole legal platform at the time.
As of Sept. 17, 31 licensed iGaming operators are officially live and accepting wagers across the province.
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The then-prime minister, Rishi Sunak, announced 4 July 2024 as the election date on 22 May 2024. However, internal planning for that date had already begun at 10 Downing Street and Conservative Campaign Headquarters before the announcement.
Anthony Lee’s senior campaigning role gave him access to confidential discussions about the election timing. Rather than keeping that information confidential, he placed bets and passed it to his wife. She then used the information to place her own bets.
UK operators already carry out enhanced checks on politically exposed persons (PEPs), but this case shows the limits of those safeguards, Bethan Lloyd, partner at law firm Wiggin, recently told iGB.
