Torstar Corporation aiming to launch online casino in Ontario, Canada

Torstar Corporation aiming to launch online casino in Ontario, Canada

Torstar Corporation sets its sight on Ontario’s booming igaming market, announcing its plan to establish an online casino brand in the jurisdiction at some point this year.

New Online Casino in Ontario

Torstar, the parent company of the Toronto Star, is preparing to invest next in Ontario’s million dollar gaming industry. However, the company would have to clear few more hurdles before its goal of launching an online casino business in the Canadian province becomes a reality. The proposed new casino still needs an approval from  Alcohol and Gaming Commission of Ontario, while the stipulation of the launch date would require ratification by Ontario Government.

As it stands right now, the idea of Torstar launching new online casino in Ontario this year isn’t far-fetched because the regional government is actually vouching for it to happen. In fact, the 2019-2020 Ontario budget includes  a promise to licence firms looking to operate in a regulated market in the province. Ontario’s regional government also confirmed that it is introducing legislation that would give the Alcohol and Gaming Commission of Ontario authority to regulate, conduct and manage igaming activities in the territory.

Torstar’s business portfolio is centered on digital and print news organization. Apart from the Toronto Star, the firm also has six regional daily news paper and more than 70 weekly community news papers across Ontario. Torstar also revealed that it has added key people to its igaming team. Gil Steinfeld, Jim Warren, and former General Counsel for the Alcohol and Gaming Commission of Ontario Don Bourgeois join Lorenzo DeMarchi, chief investment officer at Torstar, and Corey Goodman, chief corporate development officer, in the team. These people has an extensive experience in the gaming industry, guiding Torstar towards establishing an online casino in the jurisdiction.

Statements on Torstar’s online casino venture

Corey Goodman, chief corporate development officer at Torstar, said:

“We are excited at the prospect of participating in a regulated online Ontario gaming market with a made-in-Ontario product,”

“As an Ontario-based media business and trusted brand for more than 128 years, we believe Torstar will provide a unique and responsible gaming brand that creates new jobs, offers growth for the Ontario economy and generates new tax revenue to help support important programs in our province.”

Paul Rivett, chair and co-owner of Torstar, explained:

“There are two reasons for our entry into this field.”

“First, we want to ensure the new marketplace is well represented with a Canadian, Ontario-based gaming brand so that more of our players’ entertainment dollars stay in our province.”

“Second, doing this as part of Torstar will help support the growth and expansion of quality community-based journalism.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.