PENN Entertainment is preparing for a significant expansion of its theScore Bet brand into Alberta’s soon-to-be-regulated gaming market. The company’s CEO, Jay Snowden, has expressed confidence in the potential success of this venture, predicting that Alberta will rank among the top three or four markets for theScore Bet in Canada.
Anticipating a launch between late 2024 and early 2025, theScore Bet aims to leverage the brand’s strong performance in Ontario, suggesting a similar level of success in Alberta. With offerings in both online sports betting and iCasino, and competitive tax rates, Alberta presents a promising opportunity for the company. Snowden is optimistic that theScore’s widespread popularity across Canada will translate to substantial success in this new market.
Alberta Offers Great Opportunity, Say Experts
At the Canadian Gaming Summit held in Toronto last June, professionals from various sectors agreed that Alberta presents significant opportunities as a commercial market. This consensus came from operators, suppliers, regulators, consultants, and other industry insiders, who see great potential in Alberta’s gaming industry.
PointsBet is one of the companies showing early interest in Alberta. During Super Group’s recent earnings call, CEO Neal Menashe mentioned that Betway is set to regulate its existing operations in Alberta as soon as the province green-lights the market. Industry advocates have also proposed that Alberta should adopt a tax rate similar to Ontario’s 20% for commercial online gaming and betting operators. Rates significantly higher could discourage operators from entering the market.
The high brand visibility and awareness of many operators currently active in Ontario could play a crucial role in Alberta. Factors such as unlicensed operations and nationwide advertising contribute to this visibility. Therefore, the concept of “first mover advantage” might have a unique impact in Alberta compared to other regions.
TheScore Bet is another interested party, ready to capitalize on Alberta’s potential once the province opens its market, regardless of the specific regulations that may be implemented. This eagerness highlights the excitement surrounding Alberta as a burgeoning hub for the commercial gaming industry.
