Stake cleared for regulated Alberta gambling launch
Stake is preparing to move its Canadian players into Alberta’s regulated gambling market after securing the regulatory approval needed for its new Stake Canada operation.
Stake Canada received its latest Alberta approval on October 6 and is targeting an October 12 launch of its sportsbook and online casino.
The company had already been registered as an iGaming operator by Alberta Gaming, Liquor and Cannabis on September 24.
It must also complete its operating arrangements with Alberta iGaming Corporation before taking bets through the regulated platform.
Stake plans to offer sports betting and online casino games in the province, although poker and daily fantasy sports will not initially be included.
The move is particularly significant because the Stake brand has previously served Canadian customers through its international operation rather than a provincial regulated platform.
Alberta launched its competitive regulated iGaming market in July, becoming the second Canadian province after Ontario to permit private online casino and sportsbook operators under a provincial regulatory framework.
Operators transitioning from the unregulated market face an October 13 deadline to complete that move.
Stake Canada General Manager Kris Abbott said the company had been working through the province’s regulatory process ahead of the deadline.
“We got that three-month extension and we’ve been able to get everything done in the interim,” Abbott said.
“That looming deadline is only a few weeks away, but we believe we should be in good shape to meet that. It’s a robust application process, and we’ve had a good time working with the AGLC and the AIGC.”
Stake Canada board member Birgitte Sand said entering regulated markets was central to the company’s Canadian strategy.
“Stake Canada’s approach to regulated market-entry is grounded in preparation, accountability and a long-term commitment to compliance,” Sand said.
“Securing licensing in Alberta provides a strong foundation for the company’s development in Canada and reflects the importance we place on meeting local standards and player safety.”
Stake will enter a competitive Alberta market already containing major international operators including BetMGM (BetMGM review), DraftKings (DraftKings review) and FanDuel (FanDuel review).
The company is also attempting to enter Ontario but has not yet received the approvals required to launch there.
Stake Canada says its Ontario platform has completed technical certification and its application is before the Alcohol and Gaming Commission of Ontario, but no launch date has been confirmed.
