Canada's Alcohol and Gaming Commission has awarded online gambling firm 888 Holdings PLC (LSE:888) an iGaming license.
The newly regulated market will debut on April 4, according to the company. In the US, 888 holds licenses in seven states, including 19 locally regulated ones worldwide. Revenue from locally regulated and taxed markets accounts for 74% of 888's 2021 revenue.
As a result of the iGaming license, 888 said it will be able to leverage its full marketing capabilities and focus on product leadership to offer Ontario players exciting and locally relevant experiences.
888 UK Limited, a subsidiary of online casino and sportsbook operator 888 Holdings Limited, was fined £9.4mln by the UK's Gambling Commission on March 1.
The watchdog said the penalty also included an 'official warning' and a requirement that the firm undergo 'extensive independent auditing'. An investigation had found several 'failures' in terms of social responsibility and money laundering.
It is one of the largest fines imposed by the regulator to date, and the second for the 888 group. The company paid £7.8mln in penalties for failing vulnerable customers in 2017.888 Holdings PLC (LSE:888)