The rise of regulated online gambling in Canada is about to be complete as Saskatchewan, the only province with no regulated iGaming options, signs a monumental deal with the Federation of Sovereign Indigenous Nations.
The Forging of a Unique Gambling Partnership
This unprecedented agreement is not only a Canada-first but, according to Casino.org, is a world-first as well.
Thanks to the first-of-its-kind deal with the indigenous peoples, Saskatchewan will have a regulated sports betting site launch in the province in 2022. According to the agreement, during the first five years, only the Federation of Indigenous Nations will be licensed for online gaming and once this period has passed, the local government will be allowed to launch its own operations.
The first sports betting platform will be a collaborative effort between the Saskatchewan Gaming Corporation (SGC) and the Saskatchewan Indian Gaming Authority (SIGA). The two parties, responsible for the upcoming sports betting offerings will split both the revenues and the responsibilities in two. The SIGA will operate the online iGaming platform, while the SGC will oversee and manage it.
SIGA’s funds from the online gambling operations will be given to the 74 First Nations. The money will help usher a betterment of the education system in the native communities, new health programs, as well as developments in the infrastructure and the economic, social and recreation fields.
Targeting the Global Gambling Market
Chief Bobby Cameron from the Federation of Sovereign Indigenous Nations spoke about the agreement and mentioned that it is the result of many years of hard work. According to him, the agreement is a peak example of what reconciliation between a tribal and government organization can achieve.
Cameron is happy to have this deal in place as the tribal casinos have suffered a lot from the COVID-19 quarantine. He believes that an online offering will greatly benefit the region.
This Tuesday, during a news conference at the First Nations University of Canada, the SGC and the SIGA signed an amendment to their Gaming Framework Agreement and a letter of intent. With the new amendment, the two parties agree to create a regulatory framework for the upcoming iGaming site and with the letter of intent, they vow to continue innovating.
In an interview with The Star Phoenix, Cameron revealed that he envisions growing the iGaming site even further and targeting the global market. He aims to go hard and make the online gambling site as lucrative as possible, hoping to achieve ten-digit revenues at one point.
The chief of Muskowekwan First Nation and chair of SIGA, Reg Bellerose, more modestly mentioned that $20 to $25 million revenue would be a nice starting point.