Thread by @TO_Resident

#ONpoli

Just in case you hadn't noticed from the endless TV ads, Ontario has now launched its iGaming market.

THREAD 🧵 on the gaming sites that have been licensed by the province so far, and their MANY links to money laundering and other crimes... thanks, Doug Ford!!!

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There are now 24 gambling sites launched, with about 15 total companies running them. Most of these operators are established international casino and sports betting platforms newly licensed for Ontario.

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iGaming Company #1: 888

This is UK-based operator, and has been fined multiple times for money laundering and "social responsibility" failings.

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iGaming Company #2: BetRivers

BetRivers is run by Rush Street Interactive (RSI), which is a U.S.-based corp with both brick-and-mortar casinos and online sites & backed by a hedge fund.

There have been various fines in their history, including for underage betting.

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iGaming Company #3: BetMGM

BetMGM is operated by Entain. Other Entain brands include Ladbrokes Coral, which was fined in the UK for "systemic failures" around money laundering.

BetMGM was already fined here in Ontario for its advertising violations.

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iGaming Company #4: Coolbet

Coolbet (Coolbear Ontario Limited) is a Malta-based operator. Malta has long been known as one of the havens for iGaming companies and a centre for money laundering.

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iGaming Company #5: FanDuel

FanDuel and DraftKings were the 2 biggest companies in daily fantasy betting. For many years, they have been seen as a target for money launderers, and were also accused of racketeering.

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iGaming Company #6: LeoVegas

LeoVegas is a Swedish gaming operator that has been fined in multiple countries for money laundering.

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iGaming Company #7: NorthStar Gaming (Toronto Star)

This iGaming business is a division of TorStar. NorthStar is partnered with Playtech - a gambling platform with several scandals in its past.

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Northstar (cont'd):

The hedge fund that purchased TorStar has also seen several scandals since the purchase, including the CEO sharing QAnon-type posts and large amounts of advertorial content for online gambling.

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iGaming Company #8: Bet365

This company (Hillside) has been fined in several countries for deceptive business practices and money laundering.

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iGaming Company #9: bwin

Bwin (operated in Ontario by ElectraWorks Maple Limited) is actually a subsidiary of Entain - same as BetMGM. Entain was formerly known as GVC Holdings. GVC was also in a scandal around the acquisition of one of its UK betting sites.

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Also run by ElectraWorks Maple Limited (Entain) in Ontario are the partypoker/partycasino sites.

Partypoker has moved away from smaller markets to focus on the U.S. and Canada.

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iGaming Company #10: Unibet

Another Malta-based owner: The Kindred Group.

They have been fined in Denmark and Norway over money laundering.

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iGaming Company #11: PointsBet

This company has the deal with MLSE to be the official partner of the Leafs/Raptors/etc.

It was just fined last month for violations with its advertising.

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iGaming Company #12: Rivalry

Rivalry began in the eSports market, but also has moved into betting as a sportsbook and casino games. They were in markets around the world before getting the Ontario license.

They got a $20M investment, and IPO'ed in October 2021.

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iGaming Company #13: Caesars (American Wagering)

Caesar's has been fined for several issues, including money laundering. The parent company William Hill has also been fined for money laundering.

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iGaming Company #14: TheScore

TheScore betting app was acquired by Penn National Gaming for $2B (they also own casinos and the popular Barstool Sports app).

That $2B is already looking like an overpay, as the app flopped in the U.S. markets.

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iGaming Company #15: DraftKings

DraftKings is one of the biggest iGaming names out there, and has many ties to organized crime and black market activity.

hindenburgresearch.com/draftkings/

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But wait, there's more!

Bragg Gaming, the operator of 888 casino in Ontario, has Postmedia's Paul Godfrey as one of it's biggest shareholders. Godfrey was even named the Interim CEO in 2021.

Godfrey is a max donor to the PC Party, as is the founder Adam Arviv.