Key Points
- By October 13th, 29 operators and 50 brands had finally made the grade, doubling the number from the launch day.
- PokerStars gave up on Alberta while Stake and Super Group made some last-minute deals to stay in the regulated game.
- Regulators are really unhelpful when it comes to explaining how they’re going to deal with anyone who didn’t play ball.
Alberta Slams the Door on its iGaming Licence Application and 29 Operators Get the Green Light, Enforcement Plan Still Secret
Three months back, Alberta kicked off its online gambling market with just 22 sites taking the plunge. But as of 13 October, things had changed dramatically. When the transition window finally closed, 29 operators and 50 brands were approved by Alberta Gaming, Liquor and Cannabis (AGLC) and the Alberta iGaming Corporation (AiGC). For anyone else still operating in the province, it is now or else.
But what happens to those who decide to take a stand and refuse to play by the rules is anyone’s guess. Officials in Edmonton aren’t saying anything at all. Dan Keene, head of the AiGC, prefers to give praise to those operators who decided to take the leap: “Alberta’s regulated iGaming market exists to protect Albertans. We’re really looking forward to working with those operators who chose to be more considerate and ‘come in from the cold’ by transitioning away from the offside grey market.”
How Many Websites are “In” the Market is Anyone’s Guess?
Totals can vary depending on when you ask, and it’s not just because we’re counting wrong. It’s because websites just kept getting approved right up to the deadline. On October 13th, our review of the market directory put the number at 48, up from 35 on 5 October. That’s 13 new websites in just 8 days and that’s more than half of all new operators since July.
Just two days later the number had gone up again. By October 15th, at least 51 licensed sites were open for business, run by 30 companies with multiple brands often counted as one entry: Caesars, for instance, has 3 websites and so does PENN Entertainment, and Apollo Entertainment is running no less than 7 different casino brands. Keene thinks we can expect another 10 to 15 sites before the end of 2026, which could take our grand total to 65.
For some scale, Ontario has a whopping 84 sites running under 49 companies and that’s after a full four and a half years in the game. Back when it was just finding its feet, it had roughly 15 operators and 31 websites.
The Late Arrivals and the One Who Got Away, PokerStars Walks Out on Alberta
Some of the biggest names in the grey market were still holding out right up until the deadline. Super Group was one of them, jumping into the regulated market with all five of its brands, including Betway, Spin Casino and Jackpot City. Stake Canada managed to get its AGLC licence in time, and AiGC welcomed it with open arms on October 13th.
But then there’s poker. PokerStars in particular decided to bail on Alberta for now. It’s down to a bit of a legal run-in: the problem is, Alberta and Ontario can’t share player liquidity, and that’s currently under dispute in court.
“Offside” Operators Are Facing a Plan That Nobody Can Explain
“If you’ve been operating in Alberta in the grey, whatever you want to call it, and now you are not part of the established regulated market, you are offside,” Keene told Canadian Gaming Business.
Earlier, Service Alberta Minister Dale Nally had made it clear that there will be no further delays in bringing iGaming under control. “We have been very clear that the deadline is October 13th,” Nally said. During G2E in Las Vegas, Nally outlined such measures as cease-and-desist letters and going after payment processors as an option. Also, Nally mentioned that app stores and social media could assist with blocking unauthorised products.
When asked about details, the regulator refused to provide any information. AGLC spokesperson Lynden McBeth confirmed that there are several ways to investigate the situation but did not provide any further information.
BetMGM Starts Well and Puts Pressure on Competitors
Commercial performance is usually favourable for the biggest players, and BetMGM serves as an example of such a case. According to its chief financial officer, Gary Deutsch, Alberta was responsible for providing 20% of the total number of new customers the company obtained during the third quarter. “We have ramped up faster and higher than that trajectory, so that is positive,” Deutsch compared Alberta’s launch with BetMGM’s Ontario launch.
Interest among the players appeared immediately. During the first week, 100,000 Albertans registered at GeoComply’s partner platforms which completed 3.2 million location checks. Now the small players face the challenge of competing with these well-financed brands for the same customers.
Two Extremely Different Numbers for One Offshore Problem
The government’s own estimate is that unregulated operators took 70% of the market before the launch. Market data provider Blask has a much more dramatic estimate. Its data shows that offshore brands owned 89.2% of Alberta’s iGaming CEB between July 2025 and June 2026 while PlayAlberta had only 10.8%.
These two numbers describe completely different estimations. While the government’s percentage is the part of the market controlled by offshore operators, Blask’s CEB is a revenue estimate based on search demand and visibility.
The formula for revenue is simple: 20% of the net revenue remains with the province while 3% of the gross gaming revenue is taken by the First Nations and social responsibility.
Analysis of Alberta: Celebrating the Wrong Number
In our view, Alberta has made an outstanding performance during the opening quarter. In our opinion, the province is celebrating the right success with the wrong scoreboard. As impressive as the number of 51 approved operators might seem, it does nothing more than show the list of signatories. It does not reveal where Albertans have bet today.
The biggest concern of ours is in the offshore baseline. The provincial authorities talk about 70%, while the figures by Blask are closer to 89% and increasing before the launch. Both methods have flaws, but assuming the latter is closer to the truth makes the July 2027 goal of AiGC extremely ambitious.
The refusal to disclose the methods of enforcement is even more concerning. The deadline will be effective if people know what happens after it. Ontario revealed its fines for suppliers, which allowed operators to assess the risk involved. By keeping all methods of enforcement secret, Alberta allows offshore companies to make up the risk level themselves.
The message about the market also concerns us. Despite the ministers’ claims, the market is definitely about the money. The province estimates $76 million of revenue in year one and takes a share of the net revenue. Both goals do not necessarily exclude each other, and admitting both will win more support than denying one of them.
We understand our readers might disagree with our point of view. However, until a site is named, fined and/or blocked, it is still possible to say that Alberta’s grey market did not disappear; it was just forced to depart.
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