New Chief for Ontario Sports Betting and iGaming Regulator - Casino.org
Published on: August 23, 2023, at 03:05 AM.
Latest update: August 23, 2023, 06:15 in the morning.
Dr. Karin Schnarr has been appointed as the forthcoming CEO by the Alcohol and Gaming Commission of Ontario. The announcement was made by the board of directors of the regulatory authority. AGCO's release states that Dr. Schnarr will assume her responsibilities as the CEO on September 18.
According to the statement, Karin has occupied various high-ranking positions within the Ontario Government, including acting as the top aide to ministers across different areas. During this period, she offered guidance in crafting public policies, creating laws, and establishing rules concerning important government objectives. Moreover, she took on the role of overseeing the Ontario Government's Task Force on Women and the Economy in the recent past.
On a LinkedIn update, Dr. Schnarr expressed her deep gratitude and exhilaration upon becoming a part of AGCO, taking on the role of CEO and Registrar.
Dr. Schnarr is set to assume the role of CEO at AGCO, taking over from Tom Mungham.
"I would like to express my gratitude to the board for granting me this chance – I am fully conscious of the significant responsibility of taking over from the retiring CEO, Tom Mungham, at AGCO. I am thrilled to become a part of this thriving and dynamic company that is committed to safeguarding consumer interests, promoting effective business methods, and prioritizing the well-being of its employees."
The retirement of AGCO's CEO Tom Mungham was declared in the month of March.
Dr. Schnarr's arrival has been revealed amidst the thriving expansion of Ontario's iGaming industry. AGCO oversees the operations of sports gambling platforms in Ontario, the province with the highest population in Canada, and also recognized by AGCO as the sole market facilitating online sports betting.
As mentioned earlier by Casino.org, there are over 60 licensed online casinos and betting platforms in Ontario. Since the introduction of the sector in April 2022, IGaming Ontario has recorded total wagers amounting to over $35 billion.
Dr. Schnarr assumes control during a period of remarkable expansion, and along with it, accompany the challenges of growth. The surge in popularity of sports betting in Ontario has resulted in a notable increase in the promotion of sports betting platforms and virtual casinos. A number of Ontario locals have expressed worries regarding the rising quantity of advertisements and the potential impact they may have on younger audiences being exposed to these ads.
The AGCO has put forward a suggestion to prohibit athletes and celebrities from appearing in iGaming advertisements. However, the outcome of this proposition has not been disclosed to the public yet.
The hiring of Dr. Schnarr might result in a definitive conclusion regarding the advertising plan.
Alongside a fresh CEO, AGCO and IGaming Ontario have seen several staff alterations. IGaming Ontario, the legal body tasked with supervising the sports betting and online casino gaming sector in the province, essentially operates as a subordinate of AGCO.
In the previous month, Dave Forestell, the chairperson of IGO, assumed the same position at AGCO. Forestell took the place of Lalit Aggarwal, who resigned in July as the chairperson of AGCO. IGO appointed Heidi Reinhardt as Forestell's replacement, who has been a member of AGCO's board of directors since 2020, as stated in an announcement from IGO.
iGaming Ontario expressed its warm welcome to Ms. Reinhart and also expressed gratitude towards Mr. Forestell for his remarkable guidance since the agency's establishment, as mentioned in iGO's statement.
