The legal and fully regulated Ontario sports betting market launched 16 days ago and one major sports betting provider filled a key position within its company Wednesday.
OpenBet announced it has appointed Stewart Groumoutis as its new vice president/commercial for Canada. He had served as director of eGaming at British Columbia Lottery Corp. (BCLC) the past 10 years.
Groumoutis became familiar with OpenBet while working for BCLC as the company currently supplies the Canadian lottery with a comprehensive product suite of its technology, content and services, according to a news release.
“I am very excited to be joining the OpenBet family. During my time with BCLC, I was exceedingly impressed by OpenBet’s ability to maximize operational value delivery, while also maintaining a strong focus on the future and innovation in the industry,” Groumoutis said in the release.
“As a former operator, I understand the challenges new and existing operators face, and want to ensure that we can remain an instrumental partner in achieving and maintaining success.”
More About OpenBet
Besides BCLC, OpenBet also provides its content and services to other major lotteries within Canada including Atlantic Lottery, Ontario Lottery and Gaming Corp. (OLG) and Loto-Québec, according to the release.
“We are absolutely delighted to welcome Stewart to the team. He understands the culture and best practices of OpenBet, which is hugely beneficial as we look to power more sportsbooks with our unrivalled technology, content and services across North America, including Canada,” Cathryn Lai, chief commercial officer of OpenBet, said in the release.
“Over the coming months, we anticipate increased commercial activity as demand for our products and services continues to grow. With the addition of Stewart, we are building an ultra-strong team full of passionate individuals that will see OpenBet maintain its position as a world leader within sports betting entertainment.”
An Opportunity for Growth
With Canada and more states eyeing sports betting expansion, Groumatis said he wants to position OpenBet to capture that growth.
“North America is in the planning or early stages of growth in most states and provinces, and operators are looking for not just vendors but real partners to help them succeed,” he said in the release. “This has always been a strength of OpenBet’s approach, and I believe it will be one of the main reasons for our continued growth.”
Since launching the market on April 4, iGaming Ontario has approved 13 operators that run 21 gaming sites in Ontario. The Alcohol and Gaming Commission of Ontario (AGCO) has issued 30 operator licenses, the latest being Betway on Tuesday.
Gaming operators who have been registered with AGCO must also have an “Operator Agreement” with iGaming Ontario before they can launch their Ontario app for iGaming. Established in 2021, iGaming Ontario, manages internet gaming in the province.