The proposed move of the Camrose Casino from Calgary to Edmonton is still set to go ahead, despite its holding falling into receivership. Mayfield Investments Ltd. already have an agreement in place that would see the gambling license move to the new location upon construction.
Alberta's gambling industry is in a strong position with 134 gambling-related businesses contributing to a market worth almost $2 billion. The province's online gambling industry is dominated by Play Alberta, the only regulated online gambling website. Gambling regulations vary by province, with Alberta prohibiting any other operators than Play Alberta.
However, as online gambling expert Sergio Zammit reveals, while Canadian law prohibits gambling businesses from setting up operations without a licence, playing real money slots in Canada is another possibility.
There are no laws that prohibit Canadian citizens from accessing offshore casinos. These operations are set up in external jurisdictions and it is possible to find reputable options licensed by other countries.
Online alternatives provide consumers with a greater choice of betting markets, competitive odds and bonuses. As more consumers continue to exercise their right to seek greater choice, Alberta has made moves to open its online gambling market. The success of Ontario's commercial online gambling market is being used as a road map for the province.
Current developments in the Camrose Casino move
Ontario's multi-billion dollar online casino has influenced the campaigners behind Bill 16, which could impact the expansion of Alberta's gambling sector. There is no timeline in place yet, but Alberta’s online gambling industry is set to bolster land-based operations.
The proposed sale of the Camrose Casino's gambling license could see Edmonton welcome a brand new development. Rather than the Camrose Casino Corp. or the Mayfield Investments moving operations, a sale for a reputed $5.5 million to Capital City Casinos Ltd. would see the new entity created.
While an agreement is in place between the businesses involved, Capital City Casinos still need municipal approval before construction can commence.
Mayfield Investments currently owes ATB Financial over $38 million, and the bank's attempt to secure payment led to them pursuing the receivership. Ernst & Young was appointed as the third party in control of Mayfield's assets in an attempt to collect on the debt owed.
Most recently, the Alberta Court of King's Bench announced that an application made by Mayfield Investments to retain the receivership was denied. It was revealed that Mayfield had agreed to a credit arrangement with ATB Financial in 2022 after its first default. Continued defaults led to ATB making three more agreements before demanding the loan repayment in Aug. 2023. A further agreement was made where Mayfield made attempts to sell properties to raise funds to pay the debt.
Changes to Alberta’s land-based casino operations
Alberta's casino industry includes six Host First Nations casinos that operate under the First Nations Gaming Policy. This includes the Louis Bull Tribe’s Bear Hills Casino between Wetaskiwin and Ponoka, the Cold Lake First Nation's Casino Dene, and the Alexis Nakota Sioux Nation’s Eagle River Casino in Whitecourt. Calgary, Enoch and Morley are also represented by the Tsuut’ina First Nation, Enoch Cree Nation and Stoney Nakoda First Nation, which operate the Grey Eagle Resort & Casino, River Cree Resort & Casino, and the Stoney Nakoda Resort & Casino respectively.
Of the 15 non-reservation casinos in the province, six are located in Calgary and Edmonton. The potential Camrose Casino gambling license transfer would see the balance shift towards Edmonton. This has led to some complaints from Edmonton non-profit organizations that are concerned the new casino would stay within the province's rural pool in connection with charitable gaming events. The outcome of this would be that the system would prevent Edmonton charities from benefitting from its revenues.
There are lots more twists and turns in this story with opposition to the move, permissions still required before construction can start, and the precarious financial position of Mayfield Investments Ltd.
No matter the outcome, the long-term future of Alberta's casino gambling industry appears to be here to stay. The proposition of online casino operations being extended in the province could turn out to be beneficial for operators. In the United States, a study was conducted on the effect of online casino gambling on land-based operations in the states and it was found that land-based casinos surprisingly reported growth in their gross gaming revenue (GGR).
If Alberta does amend legislation, land-based casinos could also see a spike in revenue that further boosts local economies.
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