Canada’s Biggest Media Group To Launch Online Casino To Fund Journalism
Multiple state governments across the United States are looking at legalizing online gambling and sports betting in an attempt to bring in more revenues after the COVID-19 lockdown damaged their economics.
Torstar which is the biggest newspaper group in Canada is also looking for new ways to raise funds to fund journalist and keep the paper running. The Canadian news agency has announced that it will venture into the online gambling industry and launch an online casino. The funds that come in from this online casino venture will be used to fund journalism and expand Torstar’s reach.
Torstar confirmed earlier this week that it is currently working on developing an online gambling app. The company said that it will take advantage of the Torstar brand which has been in operation for over 100 years and offer online casino games to Canadians shortly.
The gambling app will launch in Ontario and is expected to create new job, boost the economy of the province and provide financial assistance to a number of programs that make a difference to the people of Ontario. Torstar also said that by launching an online casino under their brand, Canadians will be confident of getting a safe and secure online gaming experience from a trusted brand.
Torstar Keen To Tap Into $500M Market
Torstar has done its research on the Ontario gambling market and claims over $500 million is spent each year on online gambling activities. Most of this money is spent at unlicensed gambling sites which are based outside Canada.
Torstar believes that it is high time for Canada to do more to prevent this money from leaving the country and also provide Canadian players better protection as a number of these unlicensed gaming sites take advantage of players knowing they have no recourse to action.
It is important to point out that current gambling laws in Ontario make it legal only for the government of Ontario to offer online gambling services. However, the last Ontario budget gave the government an option to extend the opportunity for private company to offer online gambling services going forward.
Torstar remains confident that this will come into play in 2021 and they will receive official permission to launch online gambling in Ontario. Torstar is looking to work closely with government officials during the next couple of months and move forward with its online gambling launch.
Doug RamirezAuthor
Doug is our American guru, he will be keeping us informed with latest tournament news and goings on in the USA
