One of the new gambling licenses and also new markets to have entered the world of gambling licenses is indeed Ontrio. This new step towards legalising gambling, will allow worldwide operators to acquire an Ontario gambling license and also launch operations in the country. This new license was announced and launched quite recently on the 4th of April, 2022.
Operators looking to set up home in Ontario’s new gambling market, would need to kick off their application by firstly registering with the AGCO - Alcohol and Gaming Commission of Ontario. To help facilitate the process of application and get started on the requirements needed, the AGCO has created a document with necessities that operators would need to supply. The guide is quite extensive in nature, but some of the guidelines include:
- All applications and prospective Ontario Gaming license holders must comply with the relevant Registrar’s Standards for Internet Gaming.
- Branding needs to be direct and not leading to gambling (very much like the UK stance on branding and marketing)
- Strict rules and guidelines that abide by compliance placing the customer at the centre of all operations.
- Payable fees per site and per operator inclue a regulatory fee that is tagged at $100,000. This amount would need to be paid at the application stages, with operators having the option to pay either for a year or 2 years in advance.
- Applicants and operators that delve into unregulated markets will potentially see their license revoked.
If an operator decides to apply for an Ontario Gamling License, just know that the application process is quite lengthy, and applications would need need to be supported with the below documentation:
- Operator Application
- Registrar’s Standards Gap Analysis
- Personal Disclosure for individuals identified within the organisation
- Entity Disclosure
- Regulatory fee
- Any requested investigation fee
- Supporting documents (as applicable and requirened by the governing body)
- Business Name Registration
- Constituting Document(s)
- Certificate or Articles of Incorporation including Trust Agreements, Partnership Agreements, Partnership Declerations and any other certifications issued to the applying company.
- Details of Shares
- Extra-Provincial Power of Attorney (for Limited Partnerships)
- Financial Statements
- Government-Issued Identification
- Personal History – Gaming
- Schematic Diagram
- Partnership & Limited Partnership: showing the relationship between the partners, any affiliates or subsidiary entities, and any individual or entity that has a 5% or greater interest in the partnership.
- Corporation: showing the relationship between the applicant and all shareholders (including parent or holding corporations) owning 5% or more of any shares of the applicant corporation, and any affiliated or subsidiary corporations.
- Joint Venture: showing the relationship between the joint venture partners, any affiliates or subsidiary entities, and any individual or entity that has a 5% or greater interest in the joint venture.
- Association: showing the relationship between the applicant and any entities forming the association, any affiliates or subsidiary entities, and any individual or entity that has a 5% or greater interest in the association.
- Signature of Applicant or Partner(s) as applicable
- Tax Return and Tax Assessment
- Criminal Background Check (if Canada is not the primary residence of an individual)
- List of Suppliers