Section 1: Executive Summary

iGaming Ontario enters the 2026–2029 planning period as a standalone agency with a clear mandate to lead the world’s best gaming market through strong partnerships with our operators, to provide robust supports and responsible gambling resources for our players and to grow our value to Ontarians. Since its establishment as a standalone agency under the iGaming Ontario Act, 2024, iGaming Ontario has rapidly scaled its operations, delivering strong financial performance, expanding player protections and fostering innovation across the sector.

Over the next three years, iGaming Ontario will focus on six strategic directions aligned with government priorities: fostering market competitiveness and consumer choice, supporting provincial gaming initiatives, becoming a leader in market data and consumer insights, delivering on centralized self-exclusion, protecting Ontario by expanding domestic partnerships, delivering better services, and driving innovation and value for money. iGaming Ontario will implement these directions through initiatives such as launching a centralized self-exclusion (CSE) system, deploying an automated anti-money laundering (AML) platform and executing a comprehensive digital and data strategy.

iGaming Ontario’s financial outlook remains strong, with projected adjusted gross gaming revenue (AGGR) reaching $5.1 billion by fiscal year 2028–29 and net income to the Province after stakeholder payments increasing to $369.3 million. These results reflect a resilient and competitive market that continues to attract players and operators while delivering public value.

This business plan outlines the agency’s strategic priorities, operational initiatives and performance targets, ensuring alignment with the Ministry of Tourism, Culture and Gaming and broader government objectives.

Section 2: iGaming Ontario Mandate

Since becoming a standalone agency on May 12, 2025, through the proclamation of the iGaming Ontario Act (the Act), iGaming Ontario has continued to act on its corporate vision to lead the world’s best gaming market.

As set out in the Act, iGaming Ontario's objects and duties are:

• To develop, undertake, organize, conduct and manage online lottery schemes
• To ensure that online lottery schemes are conducted and managed in accordance with the Criminal Code (Canada) and the Gaming Control Act, 1992, and the regulations made under them
• To promote responsible gambling with respect to online lottery schemes

Additionally, subject to the Minister’s approval, iGaming Ontario may enter into agreements to develop, undertake, organize, conduct and manage lottery schemes on behalf of, or in conjunction with, the governments of one or more provinces or territories of Canada.

iGaming Ontario fulfills its mandate by entering into operating agreements with private operators (operators) who offer internet gaming (igaming) to individuals located in Ontario. These operators must meet rigorous standards for integrity, fairness, player protection and social responsibility. This conduct-and-manage model ensures that Ontarians can participate in a regulated market with confidence. A share of revenues generated through these commercial relationships is returned to the Government of Ontario to support public priorities, including health, education and economic development. iGaming Ontario’s mandate is further reinforced by its commitment to transparency, accountability and alignment with government direction.

Section 3: Alignment with Government Priorities

iGaming Ontario’s strategic directions are closely aligned with the Government of Ontario’s priorities as outlined in the annual Letter of Direction.¹ The agency’s initiatives support key government commitments, including delivering better services, promoting responsible gambling, reducing regulatory burden and driving innovation and economic growth.

Specifically, iGaming Ontario’s business plan advances the following government priorities:

• Support Economic Development: By fostering a competitive and well-regulated market, iGaming Ontario contributes to job creation, revenue generation and broader economic growth across Ontario. These contributions help build an economy that is more competitive, more resilient, more self-reliant and protects Ontario.
• Deliver Better Services: iGaming Ontario enhances the player experience by deepening partnerships with our operators to collaborate on the implementation of innovative programs such as RG Check accreditation, CSE and a broad game catalogue. These initiatives promote safer play and empower consumers to play with confidence. 
• Data-Driven Efficiencies: Through the development and implementation of an anti-money laundering system (AMLS) and a comprehensive data strategy, iGaming Ontario is streamlining regulatory reporting, improving oversight and enabling evidence-based decision-making.
• Cutting Red Tape: iGaming Ontario is modernizing its Operating Agreement by partnering with operators to adopt lean strategies for program delivery. These efforts reduce administrative burden for operators while maintaining compliance with legal and regulatory requirements.

These initiatives demonstrate iGaming Ontario’s commitment to delivering public value while fulfilling its mandate under the iGaming Ontario Act, 2024. The agency will continue to work closely with the Ministry of Tourism, Culture and Gaming to ensure alignment with evolving government priorities.

¹ https://igamingontario.ca/sites/default/files/documents/2026-27%20iGO%20LOD.pdf

Section 4: Overview of Programs and Activities

Current Programs and Activities

Centralized Self-Exclusion

iGaming Ontario has completed the initial phase of operator integration and readiness assessment for CSE. Next, operators will commence early adoption through a limited operator-only launch that will validate system performance and reliability. Insights from this phase will inform final refinements ahead of a full public launch.

When CSE launches, it will:

• Enable a single registration process that will share and apply a participant’s CSE status with all regulated igaming operators in Ontario (including OLG)
• Provide participants with greater protection and a streamlined registration process
• Provide participants with multiple term length options and offer a renewal process
• Refer participants to other relevant responsible gambling supports and resources throughout their CSE journey

Data Platform and Anti-Money Laundering Systems

iGaming Ontario is leading the development of a modern data platform that will deliver more efficient services. The AMLS project is part of a transformation initiative to improve iGaming Ontario’s capabilities to deliver its regulatory obligations and uncover market insights at the highest level of efficiency and effectiveness.

As we develop a strong foundation to govern iGaming Ontario’s growing data, we will create a unique 360-degree view of a player’s activity across all operators. This will then feed the implementation of an AMLS that will leverage automation to continuously monitor and alert on said player activities. The AMLS will automate and facilitate batch regulatory reporting to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), eliminating the current manual and laborious efforts by operators and iGaming Ontario’s AML team.

The new AMLS will:

• Improve AML regulatory reporting accuracy and efficiency by streamlining AML data ingestion, validation, and submission processes
• Automate transaction monitoring and case management workflows to identify and escalate suspicious activity across all operators
• Enhance AML data integration and risk analysis by consolidating information from multiple sources to create a holistic view of operator and player risk

Ongoing Programs and Activities

Responsible Gambling

Promotion of responsible gambling is core to iGaming Ontario’s mandate. iGaming Ontario’s responsible gambling framework is expressed across the agency, ranging from player support through online resources to operator compliance requirements including accreditation through the Responsible Gambling Council’s RG Check program and dedicated spending for advertisements focused on responsible gambling and safer play. It is anticipated that operators will spend approximately $14.5M in responsible gambling advertising in the 2025-2026 fiscal year, helping to inform Ontarians about responsible gambling tools. Additionally, through the development of a CSE system, iGaming Ontario is investing in safe and reliable technology solutions that both create jobs and protect players.

Ongoing Anti-Money Laundering and Anti-Terrorist Financing Compliance

iGaming Ontario maintains a comprehensive AML and anti-terrorist financing (ATF) program that includes policies, operational guidance, job aids and training for both iGaming Ontario and for operators to ensure compliance with federal legislation. Since the launch of the market, iGaming Ontario has reviewed and filed over 200,000 regulatory reports with FINTRAC.

Section 5: Risk Strategy and Assessment

Internal Risks

iGaming Ontario has control over large volumes of sensitive gaming information. As a result, iGaming Ontario has and will continue to address the inherent risks related to cyber threats, data breaches, and unauthorized access through proactive actions, including:

• Ensuring compliance with the Freedom of Information and Protection of Privacy Act, government directives on cybersecurity and other Applicable Law
• Establishing an incident response and recovery plan, including conducting a tabletop exercise
• Providing ongoing cybersecurity training for all employees
• Working with operators to ensure a coordinated and unified approach to cybersecurity threats

iGaming Ontario is committed to safeguarding the data in our control and ensuring the security of all information within our systems.

Section 6: Strategic Directions and Implementation Plan

Fostering Market Competitiveness and Consumer Choice

iGaming Ontario is committed to managing a regulated market that both protects players and supports economic development. Ontario’s igaming market represents the highest number of regulated operators in North America, providing a desirable competitive market for players and operators.

As evidenced by iGaming Ontario’s monthly market performance reports, average revenue has steadily increased since market launch, growing from $245M in 2022-2023 to $445M in 2023-2024 and $584M in 2024-2025. Proactive engagement with operators has enabled iGaming Ontario to support market growth and become a market leader in conduct and management. iGaming Ontario’s relationship with government partners, such as the Alcohol and Gaming Commission of Ontario (AGCO) and Ontario Lottery and Gaming Corporation (OLG), further enables a competitive regulated gaming sector by fostering a unified approach to growing Ontario’s economy through igaming.

Supporting Provincial Gaming Initiatives

iGaming Ontario supports the Ontario government’s review of the igaming market and regulated gaming sector by identifying opportunities to improve efficiency and reduce regulatory burden, providing market insights, facilitating and encouraging operator engagement. Since Minister of Tourism, Culture and Gaming Stan Cho’s announcement of the gaming review at the 2025 Canadian Gaming Summit, iGaming Ontario has been regularly engaged with government to provide strategic and operational data on igaming in Ontario. Drawing from operator feedback on Ontario’s regulated market and player trends since market launch in 2022, iGaming Ontario is providing strategic advice on the igaming industry to reduce operational red tape and enhance efficiencies to protect the player and the market.

As part of the province’s Destination Niagara strategy to explore the expansion of world-class gaming and casino options across Ontario, iGaming Ontario is committed to working with government to cultivate operator and player engagement opportunities that further support and protect Ontario through economic development.

Becoming a Leader in Market Data and Consumer Insights

To establish iGaming Ontario as a leader in market data and consumer insights, iGaming Ontario is actively working with our operators to develop and implement both a digital and a data strategy to allow for the expanded ingest and analysis of gaming related data from operators.

This modern data system will enable iGaming Ontario to:

• Support and deepen operator partnerships by providing valuable anonymized market-level insights into the development of new products, services and igaming experiences for Ontario players
• Create new market data products covering both the player and product landscapes to help identify emerging trends and underserved markets, and guide market innovation efforts that both attract and protect players
• Establish advanced market-level monitoring and analysis to inform the development of forward-looking commercially oriented market policies to sustain a competitive igaming market that promotes high levels of channelization away from the unregulated market and increases player choice

Delivering on Centralized Self-Exclusion

Introducing CSE to enable participants to self-exclude from all Ontario regulated igaming websites including OLG.ca at once remains a top priority. iGaming Ontario completed multiple rounds of system testing in 2025, and operator integration efforts are underway. CSE is on track for a public launch in 2026. After launch, iGaming Ontario is committed to working with OLG and key sector stakeholders to identify integration opportunities between online and land-based centralized self-exclusion programs that will build on the existing player protections. This coordinated approach between iGaming Ontario and OLG, along with government partners, aligns with government direction to strengthen responsible gaming options and support players in Ontario.

Protecting Ontario

Expand Domestic Partnerships

iGaming Ontario is actively engaging with other provinces to support the launch of private online gaming markets and lay the foundation for future collaboration on shared priorities such as: AML, inter-provincial liquidity and responsible gambling. At the same time, iGaming Ontario continues to strengthen its existing relationships with other partners to deliver a more seamless and engaging experience for players across all channels.

Delivering Better Services

Optimize Digital Services for Users

As part of its IT Strategy, iGaming Ontario plans to transform the agency into a data-driven organization leveraging automation and advanced technologies. The strategy is driven by the need to streamline stakeholder interactions, expand digital services and enhance data protection and cybersecurity.

Becoming data-driven will involve establishing a robust data governance program, developing a new framework for ingestion of operator data, implementing data marts for market insight reporting and data sharing with government agencies and creating a centralized data source for compliance-focused oversight.

Enhance Efficiencies

As part of iGaming Ontario’s IT Strategy to leverage automation, the agency will implement an AMLS to optimize regulatory reporting and transaction monitoring, deploy a CSE system, automate gross gaming revenue reconciliation and increasing artificial intelligence (AI) capabilities.

These strategies focus on enhancing data quality and security for iGaming Ontario as the IT framework of the agency ensures systems and technologies are responsive to government requirements and market growth. For example, safeguarding data and managing AI use will include achieving Implementation Group 2 (IG2) compliance with Center for Internet Security (CIS) Controls, implementing an incident response plan, establishing continuous monitoring policies for generative AI (GenAI) and exploring changes to the Operating Agreement for GenAI and cybersecurity.

By fostering a culture of continuous improvement and long-term value creation and quality assurance practices, iGaming Ontario achieves cost and time savings to drive operational efficiencies that ensure players and operators trust in our IT services.

Cut Red Tape

When the AMLS is launched, operators will see a reduction in reporting burden and regulatory red tape estimated as high as 95%. The AMLS will deliver on data optimization and automation to streamline processes for operators and will result in a more efficient market landscape. More information on AMLS is available in Section 4 of the Business Plan above.

Driving Innovation and Value for Money

Allocate Resources Responsibly

Economic development and revenue generation are mandated purposes of iGaming Ontario as defined in the Act. iGaming Ontario is delivering on milestone projects like CSE and AMLS with innovative technologies that ensure both a lean implementation strategy and mature state.

Manage Agency Workforce

As the igaming market in Ontario matures, iGaming Ontario’s workforce remains aligned with business-critical resources and in compliance with the Broader Public Sector Executive Compensation Act, 2014.

Create Policies in Compliance with Government Direction

iGaming Ontario’s Board of Directors reviewed and approved an in-workplace policy on September 26, 2025. The in-workplace policy was developed to support government direction received on August 14, 2025, mandating Ontario public service staff, including agency staff, work in-office five days per week.

iGaming Ontario is currently developing a span of control policy as directed in the annual letter of direction, ahead of the March 31, 2026, deadline.

Section 7: Staffing, Human Resources and Compensation Strategy

With the iGaming Ontario Act in force, the agency is now able to establish fully independent human resource functions, subject to statutory oversight by the Ministry of Tourism, Culture and Gaming and the Treasury Board Secretariat.

Accordingly, iGaming Ontario is reorganizing its operations under new authorities, which will continue into 2026-27.² This reorganization will be anchored in the following functional areas, and in compliance with government priorities, including agency hiring controls and span of control:

• Commercial and revenue: driving iGaming Ontario’s unique value, which is providing consumers with unprecedented gaming choices in a safer environment
• Responsible gaming: championing a culture of social responsibility across the agency and our operators, in addition to managing operating agreement performance
• Legal and risk: leading identification and mitigation of risk to iGaming Ontario’s business

iGaming Ontario will also implement a five-day in-office standard in early 2026-27 for all employees. Executives and management have moved to a five-day standard in 2025-26, and iGaming Ontario is securing additional office space to enable this standard for staff.

Securing Office Space

Through enactment of Bill 46, Protect Ontario by Cutting Red Tape Act, 2025, realty authority over iGaming Ontario’s office space will be centralized into the Ministry of Infrastructure and Infrastructure Ontario. Through the iGaming Ontario Act, 2024, iGaming Ontario maintains realty authority until Bill 46 is passed.

iGaming Ontario will continue working with the Ministry of Infrastructure and Infrastructure Ontario as part of the ongoing centralization of broader real estate authority of the agency.

iGaming Ontario's Compensation Strategy

iGaming Ontario offers total compensation that is on par with Government Business Enterprises, and other public sector commercial corporations. Compensation is set in accordance with iGaming Ontario’s authorities under the iGaming Ontario Act and Broader Public Sector Executive Compensation Act:

• Compensation for executive employees is approved by the Minister and President of the Treasury Board
• Compensation for non-bargaining, non-executive employees is approved by the Board of Directors
• Compensation for bargaining employees is approved by the Treasury Board/Management Board of Cabinet

Bargaining Agent

The bargaining unit for iGaming Ontario is Ontario Public Sector Employees’ Union Local 565, which represents approximately 60% of employees.

iGaming Ontario Headcount

iGaming Ontario’s full-time equivalent ceiling has been set at 90.5 by the Treasury Board Secretariat.³ iGaming Ontario’s current headcount is composed of:

Executive	2
Management	29
Staff	63

 

² Subject to approval of an Executive Compensation Program and Human Resource Maturity Plan.

³ As of September 26, 2025

Section 8: Information Technology and Electronic Service Delivery Plan

iGaming Ontario’s information technology (IT) strategic principles remain agile by leveraging emerging technologies as well as commercial off-the-shelf (COTS) tools and solutions that allow iGaming Ontario to be innovative for Ontarians. Through investment in cloud infrastructure and services that enable experimentation, to the development of a strong data governance framework, iGaming Ontario’s IT and electronic service delivery (ESD) framework is positioned to promote a successful igaming industry.

In addition to these existing principles, iGaming Ontario is centralizing data to improve organizational access and working capacity. Through training and empowering staff in the use of IT infrastructure, iGaming Ontario is further enabling AI adoption and moving the organization toward agentic analytics and agent-driven automation.

iGaming Ontario’s strong data governance framework is crucial for ensuring data quality, security and compliance within the organization. This framework encompasses policies, procedures and guidelines for data management, quality, security, privacy and retention. iGaming Ontario’s data governance framework aims to improve overall data practices and enhance decision-making capabilities. With a focus on player activity data as well as transactional data for AML regulatory monitoring, the framework’s data integration capacity will expand to include other systems within iGaming Ontario such as Microsoft Business Central for financial data, iGO Flow for operator oversight and other systems as they are implemented.

iGaming Ontario continues to explore procurement and implementation of the necessary tools to facilitate efficient and streamlined ingestion of data from across all operators. These tools ensure that data is properly catalogued with a centralized repository of metadata that will make data easier to understand and use. iGaming Ontario will manage long-term IT and ESD planning through agile cross-functional teams that span across various departments to ensure that the business needs and goals are met, establishing objectives to improve overall data quality and reduce defects, as well as developing the tools necessary to automate and facilitate testing and defect tracking.

Section 9: Artificial Intelligence Use

iGaming Ontario takes a pragmatic approach when considering the use of AI. The focus will be more on internal process improvement and increasing employee efficiency. In addition, and considering iGaming Ontario’s small IT team, we will consider COTS AI products to avoid the burden of developing complex AI functionality internally. This is demonstrated by our adoption of Microsoft Copilot as well as the procurement of such products as Snowflake data vault and SymphonyAI for AMLS that provide out-of-the-box optional AI capabilities.

iGaming Ontario promotes its innovative approach to AI use and supports effective and leveraged use of AI tools by identifying manual processes operable for automation, and by prioritizing these tools for transformation. Good quality and well-organized data are required for successful automation, which will be accomplished as our data governance program matures. iGaming Ontario is also exploring further automation by investing in necessary tools such as robotic process automation, AI-powered workflow automation (e.g. Microsoft Power Automate) and machine learning platforms where possible.

A longer-term vision will establish the practice of empowering non-IT employees within iGaming Ontario to create applications and solutions using low-code or no-code AI platforms. These platforms provide user-friendly interfaces that empower individuals without formal programming skills to develop software, automate processes, and solve business problems. This will help iGaming Ontario become more agile and responsive to changing business needs by leveraging the skills and insights of a broader range of employees, while. continuously engaging with government on the use of AI across iGaming Ontario’s functional areas to ensure alignment and approval.

Section 10: Initiatives Involving Third Parties

The cornerstone of iGaming Ontario’s leadership in the igaming market is our focus on fostering a competitive, private-sector driven marketplace that prioritizes game integrity, player choice and responsible gambling supports. This is further informed by our mandates from government to prioritize economic development and a low-burden environment for our operators.

Through strong partnerships, iGaming Ontario and our operators help protect players from gambling harms by empowering them with information and tools to play safer.

• RG Check: iGaming Ontario requires operators to successfully achieve and maintain responsible gambling accreditation through the Responsible Gambling Council’s RG Check program, which helps operators put in place a high standard of responsible gambling programming. The Responsible Gambling Council is based in Ontario and is a national leader in the prevention of problem gambling.
• Responsible Gambling Campaign Spend: iGaming Ontario requires operators to dedicate a portion of their gross gaming revenue to running paid advertising initiatives solely aiming to educating Ontario players and the public on problem gambling prevention and responsible gambling. Operators may choose to work independently or together with responsible gambling experts to develop and run campaigns that build player and public awareness of responsible gambling tools, tips and strategies that promote safer and more responsible play.
• Centralized Self-Exclusion: The future CSE program that will support players to take a break from all regulated internet gaming websites in Ontario is being developed with consideration of, and input from, the broader referral, support and treatment provider network across Ontario.

Section 11: Communication Plan

To deliver on its mandate, iGaming Ontario must clearly and consistently communicate to both internal and external stakeholders. An effective communications strategy is critical in ensuring players can play with confidence knowing that they are playing on a site that is safe. Communication to Ontarians about the igaming market and its benefits is an important priority.

Websites

The main iGaming Ontario website is regularly updated with relevant content, including a live list of regulated operators and gaming websites to inform consumers and monthly market updates regarding iGaming Ontario’s performance. The site has distinct sections dedicated to players and operators, as well as an “About iGaming Ontario” section for corporate reporting and public disclosures, including regular releases of market performance data in an ingestible format. iGaming Ontario is working to refresh the higher-traffic areas of the website.

The player section includes a list of iGaming Ontario’s approved igaming websites as well as information about responsible gambling tools and the benefits of the legal market. There is also an escalation path for dispute resolution should any players have concerns about their dealings with an operator. Once CSE launches, this section will also include a link to a distinct website dedicated to supporting the public’s awareness and use of that program. Following the launch of this dedicated website for CSE, iGaming Ontario will explore opportunities to promote it to help build public awareness and understanding of CSE’s place within the range of responsible gambling-related supports that are available to the public in Ontario.

The operator section of the main website has information explaining how to join Ontario’s legal market, the benefits of doing so, and links to iGOConnect.ca, iGaming Ontario’s engagement platform for operators and prospective operators. On this business-to-business website, iGaming Ontario outlines policies and requirements that gaming companies seeking to participate in the igaming market need to know. In addition, iGaming Ontario delivers an operator-facing newsletter to all its operators each month and supplements this with information and training sessions throughout the year.

Media Relations

iGaming Ontario regularly communicates with members of the media to provide information that helps tell iGaming Ontario’s story, including the benefits of the legal market, in the most efficient way possible. This includes proactive public releases and interviews as well as responses to media inquiries on an as-needed basis.

Stakeholder Communications

iGaming Ontario participates in key conferences and events for the gaming sector each year, speaking on panels and holding meetings with current and prospective operators as well as industry and responsible gambling leaders from across the world.

Section 12: Environmental Scan

International Liquidity Reference

On November 12, 2025, the Ontario Court of Appeal released an affirmative decision for the reference on international liquidity heard by the Court in November 2024. On December 11, 2025, the Atlantic Lottery Corporation, the British Columbia Lottery Corporation and the Manitoba Liquor and Lotteries Corporation jointly filed a notice of appeal with the Supreme Court of Canada.⁴ A decision to uphold the Ontario Court of Appeal decision will allow iGaming Ontario to pursue a proposed model of international liquidity for peer-to-peer (P2P) games including poker and daily fantasy sports wagering, allowing players in Ontario to wager against players outside of Canada.

A decision to uphold the Ontario Court of Appeal decision enables iGaming Ontario to work closely with its operators and Ontario government partners to develop a path forward to permit pooled liquidity for international play in Ontario. International liquidity in Ontario’s igaming market supports iGaming Ontario’s continued growth, both in channelization of legal play and market offerings for players. iGaming Ontario also continues to work with provincial partners to develop interprovincial liquidity.

Responsible igaming Program Audit

The Office of the Auditor General of Ontario selected iGaming Ontario as the subject of a value-for-money performance audit in 2026, focusing on the responsible gambling function at iGaming Ontario. iGaming Ontario is working cooperatively with the Office of the Auditor General of Ontario in response to the audit.

Market Conditions

In its fourth operating year, the Ontario igaming market has shown resilience despite continuing economic uncertainty, with strong growth results continuing to register across key market metrics including wagering volume, gross gaming revenue and the number of active player accounts.

iGaming Ontario continues to see double-digit growth on a year-over-year basis in both wagering and GGR across both casino and betting categories, with casino activity taking an increasing share of the overall market.

This growth has been supported by increasing levels of engagement among the Province’s players as the average number of active player accounts per month rises above one million.

⁴ https://coadecisions.ontariocourts.ca/coa/coa/en/item/23694/index.do

Section 13: Three-year Financial Plan

iGaming Ontario's Three-Year Financial Plan

 

iGaming Ontario's 2025–26 fiscal year is once again expected to surpass original estimates reflected in the preceding business plan, with full-year AGGR estimated to end the year at $3.8 billion, approximately $146 million higher than originally budgeted. Several factors have combined to create continued faster-than-anticipated growth. First, rising player participation and spending contributed to increased organic growth in Ontario’s igaming market. Casino play continues to grow both in real dollars and as a proportion of the market, combined with stronger than anticipated performance from the P2P poker market. While betting revenue growth has lagged in the first half of the 2025-2026 fiscal year, underlying wagering activity remains robust, an indication of strong products and market participation.

Second, operators have begun pursuing profitability more regularly, meaning fewer promotional losses and more incentives toward higher margin products, which in turn helps increase overall GGR. As the market matures, iGaming Ontario works closely with operators to launch new products to provide greater consumer choice and better player experiences. Lastly, the current economic uncertainty, inflation and unemployment have not had the anticipated impact on discretionary spending on Ontario’s igaming players, leading to a more resilient market.

These factors reflect a strong, stable and competitive Ontario igaming market that features more operators than any other jurisdiction in North America and a top overall igaming market both by revenue and wagers.

iGaming Ontario expects growth to continue at a slower rate in fiscal 2026–27, with potential economic pressures being offset by market acceleration. Total fiscal 2026–27 AGGR is expected to reach $4.3 billion and net income after stakeholder payments is projected to reach $293.6 million, a 12% year-over-year increase. There is still a large amount of uncertainty surrounding economic growth in Ontario and its potential impact on the igaming market. iGaming Ontario continues to monitor the market and work closely with operators in responding to any new market developments. With three years of strong growth since market launch and the sustained competitiveness in the Ontario market, iGaming Ontario expects fewer new operators to join the market in the following years. iGaming Ontario works closely with any potential new operators to streamline the process and remove barriers.

Over the course of the business planning period, iGaming Ontario is projecting to increase its net income after stakeholder payments to $369.3 million in fiscal year 2028–29, which represents an average annual increase of approximately 14%. The HST payment is also projected to reach almost $532.5 million, a portion of which is returned to the Province.

Revenues are projected to increase throughout the business plan, growing to just over $5.0 billion in the 2028–29 fiscal year. This reflects a 10% compound average growth from 2025–26 to 2028–29. Throughout the next three years, iGaming Ontario plans to carry out various initiatives, notably the design and launch of CSE, AMLS and a modern data platform. These activities will enable Ontario to achieve its key performance indicators and deliver greater reliability and performance, all while reducing costs for operators, improving the experience for players and promoting responsible gambling. Accordingly, there is an increase in forecasted operating costs in fiscal 2025-26 to $53.6 million, during the design and implementation phases of these initiatives. Expenses are projected to decrease slightly after fiscal 2025–26 to approximately $48.1 million in fiscal 2026–27, levelling off to $33 million and $32.1 million in the subsequent years.

The two most material costs to iGaming Ontario, reflected in the table above, remain its GST/HST payments and payments to Ontario First Nations Limited Partnership (OFNLP). GST/HST costs increase in line with the increased revenues and payments to operators. The net tax generated for the federal and provincial government correspondingly increases as a result of the new igaming model in Ontario, benefitting every province in the country, including Ontario.

Payments to the OFNLP also are planned to increase by 32% in fiscal 2026–27, driven by higher prior year’s unadjusted GGR. iGaming Ontario, the Ministry of Tourism, Culture and Gaming, the Ministry of Indigenous Affairs and First Nations Economic Reconciliation and OFNLP are in negotiations with respect to the application of the Gaming Revenue Sharing and Financial Agreement to the lottery schemes conducted and managed by iGaming Ontario and as such, the numbers in future years of the business plan may change.

Section 14: Performance Measures and Targets

The Key Performance Indicators (KPIs) of iGaming Ontario’s performance are as follows:

#	Outcomes for End Users or Beneficiaries	Performance Indicators to Measure Outcomes	Baseline Value and Date	Target Value and Date	Trend Values and Dates	Frequency (e.g., quarterly, annually) and Source of Data Collection
1	More players in the legal market contributing to government revenue and experiencing safer play.	This KPI uses channelization rate of players to determine the appeal of the regulated market over the unregulated market. This method is also used and shared with the AGCO.	iGaming Ontario’s baseline target was 70% in 2022-23.	iGaming Ontario set a target of 90% by the 2026-27 fiscal year. 5% increase year-over-year from 2022-23 to 2026-27.	2022-23: 85.3% 2023-24: 86.4% 2024-25: 83.7% Though the channelization rate has decreased slightly, the decrease is within the margin of error of the sample and continues to be above the yearly target. For the 2025-26 year, iGaming Ontario will need to improve the channelization rate from 83.7% to 85%	Players are anonymously surveyed on an annual basis and self-report what gaming sites they use during a certain period. iGaming Ontario then reports the percentage of players that indicated using a regulated site as its channelization rate.
2	Manage the health of the igaming market which attracts operators and provides consumer choices in Ontario.	This KPI is measured with the growth of AGGR, reflecting the growth of the total revenue generated by all operators in Ontario.	The AGGR of $2,199.9 million in 2023-24 is used as the baseline.   This year was chosen, instead of 2022-23, because it reflects the first year with a more accurate complement of operators and thus a better baseline of future revenue growth.	Growth in AGGR of 5% a year between 2023-24 and 2028-29.	2023-24: $2,199.9 million 2024-25: $2,901.5 million The annual growth rate in 2024-25 was 32%.	Annual basis from financial statement.
3	Maximize value for the Ontario government.	This KPI is measured with net income before stakeholder expenses, meaning it is a measurement of how much income iGaming Ontario generates before HST or OFNLP expenses.	The net income before stakeholder expenses of $430.3 million in 2023-24 is used as the baseline.   This year was chosen, instead of 2022-23, because it reflects the first year with a more accurate complement of operators and thus a better baseline of future revenue growth.	Growth in net income before stakeholder expenses of 5% a year between 2023-24 and 2028-29.	2023-24: $430.3 million 2024-25: $564.3 million The annual growth rate in 2024-25 was 31%.	Annual basis from financial statement.
4	Maintain operator satisfaction to ensure the long-term viability of operators in the Ontario market.	This KPI is measured by These numbers are weighted and scored into a topline figure, presented as an overall approval percentage.	The baseline for this KPI is the original operator approval score of 80% conducted in the 2023-24 fiscal year.	Approval target of 80%	iGaming Ontario’s first annual survey of operators revealed an 80% approval rating, in line with the target expectations.	Surveying operators on a wide-ranging set of questions to reflect their treatment by iGaming Ontario and the Ontario market. The survey was conducted in the 2023-24 fiscal year. Due to external factors influencing operators’ capacity to provide sufficient responses for meaningful comparability to the previous year, iGaming Ontario postponed the 2024-25 survey with plans to re-start the survey next fiscal year.
5	Increase iGaming Ontario player awareness of responsible gambling tools by 5 percentage points annually to ensure players can adequately protect themselves from undue gambling harm.	iGaming Ontario is measuring player awareness of certain responsible gambling tools, such as deposit and time limits, to ensure players know how to protect themselves from undue harm.	The 2023-24 baseline awareness level of responsible gambling tools was 65.4% among iGaming Ontario players surveyed.	Increase of 5 percentage points annually.	Year 1 (2023-24): 65.4%. The study is conducted at the end of the fiscal year to capture the most accurate awareness levels. The 2024-25 figure was 71.5%.	iGaming Ontario players surveyed on an annual basis.
6	Measures iGaming Ontario’s ability to retain employees to assist in meeting  operational goals.	iGaming Ontario anonymously on a variety of employee satisfaction measures and uses these numbers to build an aggregated view of employee satisfaction.	iGaming Ontario’s inaugural staff survey returned a score of 82% approval. Accordingly, the baseline target was set at 80% given that, as the market develops and grows, demands on staff also grow. Similarly, a jurisdictional scan of similar agencies and civil service employees indicated 80% would be a strong and potentially difficult target to maintain.	Maintain employee satisfaction target of 80%.	2022-23: 82% 2023-24: 83% 2024-25: 79%	Annual survey of all staff.