An American fantasy sports and sports betting company DraftKings has triumphantly received consent to launch in Ontario.
The Ontario market is at the peak of three years of attempts to allow private own operators to provide gambling products in the country. Formerly, the region’s lottery was the only one that could do so and get it approved. The operator is one of the few operators that receive a two years license to operate in the region.
Ontario Welcomes DraftKings As They Launch
As Ontario declared its plans to begin a regulated sports betting and iGaming market, it suddenly became one of the most targeted regions by sports betting and gaming operators. Many famous names in the gambling industry waited patiently to receive their license to begin operation in the region
DraftKings is now the number 37th company to receive such approval to begin operation in the region. Another brand well recognized that has also registered for the license as a local operator is the Alcohol and Gaming Commission of Ontario. The company will immediately receive a license to release its operation in the region.
Although they are the 37th operator to begin operation in Ontario, DraftKings is one of the operators to gain a two years license to operate on a stretch. It is discovered that only eleven of the operator had gotten the privilege to operate in the region so far. The remaining excluding the local lottery operators have been approved for a year of license operation.
Operators Begin Business On A Balanced Scale
In coming live, Ontario’s regulated iGaming and sports betting market were noticed by many people that DraftKings was nowhere to be found. Ontario began with a lineup that includes other notable names in the industry such as Bet365, Caesars, 888, FanDuel, and a bunch of others.
Instead, DraftKings was one of the first few operators to begin in other well-known North American regions such as the region of Arizona. This has led many people to question its first absence from the region of Ontario.
Jason Robins, the company’s Chief Executive Officer, a week early had declared its plans to launch in the region. The declaration came immediately after DraftKings posted its reports for the Q1 of the year 2022.
DraftKings financial reports show that the company is doing well. The first-quarter results were 34% higher than it same results in that period of 2021. DraftKings’ success was traced to its strategies with M&A activities. The operator triumphantly completed its acquisition of the Golden Nugget Online Gaming.
Although, DaftKings is also exploring other opportunities in Blockchain Technology as cryptocurrencies and non-fungible tokens NFTs are on the trend.
The company announced its partnership with Metabilia to begin a new suite of baseball NFTs on May 4, 2022