The Alcohol and Gaming Commission of Ontario recently released guidelines with requirements and recommendations for operators interested in participating in the province’s rapidly growing gaming industry. Gaming companies that previously operated in the unregulated grey market will now be eligible for licensing from the commission. Applicants must, however, first meet certain criteria.
Many gaming operators and brands are prepared to enter the province’s high-potential iGaming industry. The application will be accepted via the commission’s online portal, iAGCO. However, in order to cooperate with the operators, the entity must end their associations with any company that continues to operate in the grey market.
The AGCO’s subsidiary entity, iGaming Ontario, will be in charge of awarding licenses, according to the guide released this week. Later in 2021, the recently launched online gaming regulator will begin granting licenses. In addition, operators will be charged a fee of CA$100,000 per year for all of their gaming sites. Applicants can only select one- or two-year option terms.
Another requirement for registrants when applying for a license is that they have no ties to grey market operations. After submitting their proposal to the AGCO, all applicants who wish to participate in the launch of Ontario’s iGaming scheme must terminate all relationships with companies in the grey market area, according to the commission.
The application process will be conducted through the commission’s online platform, iAGCO. To apply, candidates must first create an account, after which they will be able to apply for AGCO-issued licenses, permits, authorizations, or registrations. However, the entity reminds that the application process is not yet started and will commence in the following weeks.
Candidates must include several supporting documents with their applications, which will be used to evaluate applications. This includes business name, constituting documents, certificate or articles of incorporation, details of shares, financial statements, government-issued identification. Applicants for limited partnerships must also provide an extra-provincial power of attorney. On AGCO.com, you can see the full list.
Reviewed by iGaming Ontario
As already mentioned, submissions will be evaluated by AGCO’s recently founded subsidiary online gaming entity, iGaming Ontario. Despite the fact that the new entity is a subsidiary of the commission, it operates independently and has its own staff and board of directors. The provision is now in charge of conducting and regulating Ontario’s online gaming industry.
New Online Rules
iGaming Ontario has already made some changes to the online gaming industry of the province. The entity previously announced that the Auto-Play feature on digital slot games will be banned, with players being required to commit to each spin individually. The wheel spin speed has been reduced to a minimum of 2.5 seconds. Split-screen playing is also a thing of the past now.