The Canadian Lawyer reports..
A federal proposal to decriminalize single-event sports betting, along with Ontario’s plans to launch a regulated online gaming and gambling marketplace, will likely increase merger and acquisition activity and other dealmaking, lawyers at Borden Ladner Gervais say.
“The reality is, at the end of the day, governments know that billions of dollars are being spent by Canadians now to offshore companies engaging in the gray market,” says Galen Flaherty. “So, having it legalized means not only are there revenue opportunities that can go into government coffers, but it also gives governments a chance to regulate the industry and make sure that consumers are protected.”
In November, Federal Justice Minister David Lametti introduced legislation to decriminalize single-event sports betting in Canada. If passed, Bill C-13, An Act to amend the Criminal Code (single-event sports betting), would give provinces and territories the power to manage, regulate and license all types of single-event sports betting on any sporting event. Right now, horse racing is the only single sport that can be bet on legally in Canada.
Read more at
