Economic Impact of the Canadian Gaming Industry

Share on facebook
Share
Share on twitter
Tweet
Share on email
Email

Canadian gambling sector is one of the most successful in the country, with a fast-growing strategy and perspective future. With its incredible figures, the gambling industry has impacted many other sectors in the country, with the economy being at the center of the attention. To see how the Canadian gambling sector grows in popularity and performance, check the following article.

Recent Figures

Gambling sector in Canada increases all the time. It started with the solid results in 2017 when the whole sector generated about $17.1 billion in the win. Out of that percentage, about $1 million was generated from non-gaming services such as food, entertainment, retail, and similar. It means that the gambling sector contributes to both the hospitality sector and to the rate of employment.

Canada employs more than 180,000 people in the gambling field, with an average salary of $65,000. Additionally, the local sector makes purchases of more than $14 billion in both goods and services and supports the local GDP of the country.

With the increasing popularity of the gaming industry, the local companies have started to produce products for the domestic venues. However, they don’t stop with that but continue with exporting goods on the international level.  It gives additional benefits to the Canadian economy and the whole community.

What Are Real Advantages of Local Industry

The Canadian gambling industry has a significant contribution to the local communities. It is based on new tech solutions and includes both producers of equipment and printing products. In the country, players can enjoy not only Canada’s best payout online casino sites in 2021 but also products from leading companies.

First of all, we can mention Nanoptix Inc, which provides advanced tech and printing solutions for the lottery, gaming, and POS. There is also Unisync™ Corp, which is specialized in the production of corporate apparel. Not less important is Pollard Banknote, famous for the printing of instant tickets with 50+ clients across the world. Additionally, there is also Jackpot Digital which produces electronic table games and mobile gaming products.

Going forward, we can also mention some of the most successful gambling venues in the country. Here we can speak about Gateway Casinos & Entertainment – one of the most established amusement companies in Canada. The provider holds 27 gaming properties and employs more than 8000 people. The company is also known for supporting the local communities and leaders regarding the economic development of the country. It also has a specific initiative for humanitarian purposes.

According to the words of Gateway CEO, the company contributed about $1,000,000 in 2018 to Canadian communities and charitable purposes. Through regular endeavors and commitment, the company encourages all employees to participate in all projects and initiatives.

Growing Trend in the Future

The Canadian gambling industry continues to record incredible results. It includes the development of new tech solutions, the emergence of new companies, and strong expertise. The expansion of the industry occurs thanks to the influence of several factors such as tech innovations, the difference in public perception, preferences of customers for new products, and global innovation in the market.

The gambling industry has also contributed to the state revenues thanks to the introduction of new tax revenues. In addition to it, new jobs emerge all the time, and capital investment gets in importance.

More Words About Canadian Gambling Association

Speaking about gambling organizations in Canada, we can mention the Canadian Gambling Association, which is focused on the expansion of the local gambling industry. It promotes the economic impact of gambling in the community as well as the most recommended practices for further progress. It also encourages the dialogue between local stakeholders to enhance the recognition even more.

It is also important to mention that the Canadian Gambling Association co-owns Canadian Gaming Summit and local Gaming Business magazine. For more info, you can always check the official site of the organization.

Conclusion

As you can see, Canada is one of the countries with perspective gambling policies and practices. They invest a lot in the gambling industry, and it has some results in the local economy and employment rate. Based on all this info, the country will continue with the same activity making the most out of the gaming sector.

Related To This Story

Latest NEWS