Business

Manitoba Government Disappointed by Online Gambling Revenues

Manitoba Government Disappointed by Online Gambling Revenues

The Manitoba government is disappointed to find that its venture into online gambling is generating far less money than expected.

Manitoba Government Disappointed by Online Gambling Revenues

The Manitoba government was disappointed when online gambling revenues fell far short of expectations for its first year of operations.

A spokesperson for Manitoba Liquor and Lotteries, Andrea Kowal, said, “It’s a very, very competitive market and whether we entered it late or not, the fact is there are choices customers are always going to make in any sort of commerce, including e-commerce. There are a lot of other sites out there that Manitobans can play on.”

Manitoba launched its first online gambling site a year ago and predicted it would generate $1.5 million in net revenues in its first year and grow to $17 million annually by 2018. However, in the six month period ending Sept 30th the website only brought in $300,000. Revenues were $1.8 million but expenses were $1.5 million.

As a result the government is adjusting its forecast for the next two years; however, it will not be making the numbers public.

Kowal said that part of the problem was the delay in launching bingo games and lottery ticket sales. However, she said that a further 5000 people have signed up in the last six months. Overall Kowal said, “We’re still very positive about the product and … it is something that is growing steadily.”

Business

A proud native of Montreal, James discovered his passion for the business world while studying journalism. He has written for a number of Canadian financial newspapers. Though still in his 30’s, James has seen a number of economic bubbles come and go. He followed the social bubble and thinks mobile is a revolution and not a bubble.

More in Business

Canada loses much from the fall in oil prices

Canada loses much from the fall in oil prices

James WilsonJanuary 13, 2015
OLG Moves to Bring Casinos to Simcoe County

OLG Moves to Bring Casinos to Simcoe County

James WilsonSeptember 18, 2014
Canada’s IDR Rating Gets the Thumbs Up From Fitch

Canada’s IDR Rating Gets the Thumbs Up From Fitch

Zoe MartinAugust 21, 2014
Gananoque Casino Could Face US Competition

Gananoque Casino Could Face US Competition

James WilsonJune 30, 2014
Canadian Gambling Group Considers Amsterdam Casino Bid

Canadian Gambling Group Considers Amsterdam Casino Bid

James WilsonJune 24, 2014
Amaya to Become Largest Online Gambling Company Following PokerStars Acquisition

Amaya to Become Largest Online Gambling Company Following PokerStars Acquisition

James WilsonJune 17, 2014

Amaya and Cherry iGaming Partnership to Take Europe by Storm

James WilsonJune 10, 2014
Century Casinos Expands Canadian Operations

Century Casinos Expands Canadian Operations

James WilsonMarch 25, 2014
Canadian Man Owes Vegas Casinos $12.9 Million

Canadian Man Owes Vegas Casinos $12.9 Million

James WilsonFebruary 26, 2014