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Coolbet will cease operations in Alberta ahead of the province’s regulated commercial iGaming market launch on July 13.
A notice posted on the company’s website states that Coolbet will no longer offer its services in Alberta due to changes in the province’s iGaming regulations.
As Alberta prepares to launch its regulated commercial online gambling market on July 13, Coolbet has already stopped accepting new customer registrations and deposits. Access to its sportsbook and casino platform for Alberta residents will end on July 12, while customers will have until Aug. 31 to withdraw any remaining account balances.
Coolbet currently operates in Canadian provinces outside Ontario as a grey-market operator, where provincial lottery corporations have traditionally been the only government-approved online gambling providers.
The company entered Ontario’s regulated iGaming market when it launched in April 2022 but exited after approximately one year. Parent company GAN Ltd. later attributed the decision to intense market competition and high promotional spending, saying those factors made achieving profitability difficult.
Since Ontario’s regulated market opened, several other operators have also withdrawn, including Betiton, Casumo, Conquestador, Fitzdares, Rivalry, Unibet, and Wildz Group, with some citing similar competitive pressures.
Under Alberta’s new iGaming framework, operators seeking a provincial license must discontinue all unregulated operations by July 13, or by Oct. 13 under limited exceptions, as part of the registration process. Once the regulated market launches, provincial authorities are expected to take enforcement action against grey-market operators that continue offering services without obtaining a license.
Coolbet’s announcement follows a similar decision by LeoVegas, owned by MGM Resorts International, which recently confirmed it will not enter Alberta’s regulated market despite operating licensed brands in Ontario.
LeoVegas Communications Manager Daniel de Morais told Canadian Gaming Business that the company had made a strategic decision to discontinue access from Alberta in order to focus on expanding its existing Ontario business.
“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.
As Alberta prepares for launch, more than 30 operators have already secured registration with AGLC, representing more than 50 licensed online casino and sports betting brands. Confirmed participants include Bally’s, bet365, BetMGM, BetRivers, Betway, Caesars, DraftKings, FanDuel, PointsBet, and theScore Bet.