Over the last decade or so, one of the biggest online gaming sensations has taken a foothold across the world. This is, of course, the online casino industry. These websites offer games that many people have to travel long distances to find, and it’s all at the click of a button.
Just as Bitcoin aims to replace the current financial system, online casinos offer a more convenient gaming experience that could take over. So, where has this left the land-based casinos of Canada following the uprising of online casinos?
Struggles of land-based casinos
Online casinos have slowly but surely become popular gaming websites. Some struggled in the early years of the internet due to worries of them being fake websites, but thanks to online security measures enforced by internet browsers and nations, online casinos have become a trusted source of play.
The online casino revolution came around in the 2010s, as more people had enhanced access to the internet and were far more trusting of using their money online.
This shook the land-based casino industry in Canada, with Loto-Quebec’s Montreal casino falling by 10.2 percent in revenue during Q2 of 2012. Caesars Windsor had similar issues, needing to release a statement saying that the corporation would remain committed to the casino despite sliding revenues.
The rise of online casinos
Once safe methods of using money online came into place, it was only a matter of time before online casinos boomed. People enjoy playing casino games and gambling and have done throughout history. So, having those games just a click away at online casinos was always going to be popular.
One of the biggest reasons behind the ever-increasing popularity of these sites is their ability to adapt and update with ease. The online casinos started with standard flash versions of games like roulette and blackjack, but then flexed their creativity with slot games, creating huge-money progressive jackpot games like Age of the Gods and games with a pop-culture theme, such as The Dark Knight Rises.
Are they co-existing in Canada?
Indulging in online casino games is a much-loved pastime in Canada. It helps online casinos have a huge selection of popular and intriguing games, as well as the country being so well connected to the internet. But, despite what seemed to be an imminent demise of land-based casinos, they seem to be thriving.
Ontario Lottery and Gaming Corp. issue shares of casino revenues to the City of Niagara Falls as casino-hosting revenue, which has accounted for a massive $124.7 million since 1996. Better still, they appear to be going strong as $7.4 million of that came following Q1 of 2018.
Loto-Quebec seems to have made a steady comeback as well, boasting increased revenues from 2016 at casinos and gaming establishments, yielding a 5.3 percent increase across both revenue streams. Furthermore, Gateway Entertainment and Casinos has recently seen the casinos in the Western Fair District as a viable business opportunity as they’ve completed the purchase of three casinos and six slots operations.
Even though online casinos are still immensely popular in Canada, many land-based casinos have survived the initial boom and are seeing their revenues rise once again. It seems as though the two forms of casino gaming can co-exist in Canada.