Stake Secures Alberta iGaming Licence, Sets Oct. 12 Launch Ahead of Gray-Market Deadline

Stake is set to launch its online gambling platform in Alberta on Oct. 12, just one day before the province’s deadline for gray-market operators to transition into the regulated iGaming market. Leon Draisaitl of the Oilers hits the ice during a game in Edmonton. Stake is about to become the latest entrant in Alberta’s regulated sports betting market. (Image: Andy Devlin/NHLI via Getty Images) The Australian-backed sports betting and online casino operator has secured regulatory approval from the Alberta Gaming, Liquor and Cannabis Commission (AGLC) and is finalizing an operating agreement with the Alberta iGaming Corporation (AiGC). Stake Expands Into Regulated Gaming “Stake has built one of the world’s most recognizable brands in online gaming by doing things differently,” said Kris Abbott, country manager at Stake Canada, according to G3 Newswire. “We move faster, we build bigger, and we create an entertainment experience that genuinely shapes internet and sports culture.” Stake has already had a significant presence in Canada’s unregulated online gambling market. According to Canadian Gaming Business, H2 Gambling Capital estimated that Stake accounted for 31% of Canada’s gray market, so the Alberta announcement represents a significant move into the regulated space. Stake Targets Future Ontario Launch Stake Canada was created to expand into regulated Canadian markets. Stake is also seeking regulatory approval to launch in Ontario’s private iGaming market, which launched in 2022. The Alberta market launched July 13. According to the AGLC site, Alberta has awarded 41 iGaming operator licenses as of today (Oct. 8), including Play Alberta, the province’s own site, and three for Cadtree Limited. And according to the AiGC site, 39 iGaming sites are live and accepting wagers. “Stake Canada’s approach to regulated market entry is grounded in preparation, accountability, and a long-term commitment to compliance,” said Birgitte Sand, board member at Stake Canada, per G3 Newswire. Deadline for Gray-Market Operators Approaches Stake also operates in regulated gambling markets across Europe and Latin America. Stake’s Alberta launch comes ahead of an Oct. 13 regulatory deadline for gray-market operators to transition to the province’s regulated space. According to AGLC documents, after the July 13 market launch, operators were granted a 90-day grace period on a case-by-case basis, allowing operators to demonstrate a path to compliance that was unattainable before July 13. “Securing licensing in Alberta provides a strong foundation for the company’s development in Canada and reflects the importance we place on meeting local standards and player safety,” said Sand. “We commend the Alberta government, the AGLC and the AiGC for their work to establish Alberta’s regulated iGaming framework.” The post Stake Secures Alberta iGaming Licence, Sets Oct. 12 Launch Ahead of Gray-Market Deadline appeared first on Casino.org.