Coolbet to Exit Alberta Ahead of Regulated iGaming Market Launch
The operator has confirmed it will cease offering its services in Alberta following changes to the province's iGaming regulations. A notice published on its website states that new customer registrations and deposits have already been suspended.
Coolbet will withdraw from Alberta's online gambling market ahead of the province's regulated commercial iGaming launch, becoming one of the latest operators to step aside as the new licensing framework comes into force.
The operator has confirmed it will cease offering its services in Alberta following changes to the province's iGaming regulations. A notice published on its website states that new customer registrations and deposits have already been suspended.
Access to Coolbet's sportsbook and casino platform for Alberta-based customers will end on 12 July, with players able to withdraw any remaining account balances until 31 August.
Coolbet currently serves Canadian provinces outside Ontario as a grey-market operator, where online gambling has historically been limited to provincial lottery corporations. While the company joined Ontario's regulated market when it launched in April 2022, it exited roughly a year later after parent company GAN Ltd. concluded that intense competition and high customer acquisition costs made the market commercially challenging.
Its departure came amid a wider trend of operators leaving Ontario, with brands including Betiton, Casumo, Conquestador, Fitzdares, Rivalry, Unibet and Wildz Group also exiting, several citing similar profitability concerns.
Alberta's new regulatory framework requires operators seeking a provincial licence to end any unregulated activity by 13 July, or by 13 October under limited exemptions, before entering the regulated market. Authorities are also expected to begin enforcement against grey-market operators that continue to offer services without approval once the market opens.
Coolbet's decision follows a similar announcement from LeoVegas, which recently confirmed it will not participate in Alberta's regulated market despite operating licensed brands in Ontario.
Speaking to Canadian Gaming Business, LeoVegas Communications Manager Daniel de Morais said the company had chosen to focus on strengthening its Ontario operations.
“We continuously conduct strategic reviews of our business to ensure we stay competitive, that our strategy supports a clear long-term direction, and that we meet our sustainable growth ambitions,” de Morais added.
Alberta's regulated iGaming market is set to launch on 13 July, with more than 30 operators already registered through the Alberta Gaming, Liquor and Cannabis Commission (AGLC). Those registrations cover more than 50 online casino and sportsbook brands, including Bally's, bet365, BetMGM, BetRivers, Betway, Caesars, DraftKings, FanDuel, PointsBet and theScore Bet.
