Gambling Weekly News Summary in Canada – 2026/05/30
Canadian Bank Takes $899 Million Stake in Flutter Entertainment
The Canadian Imperial Bank of Commerce (CIBC) has acquired a new $899 million stake in gambling group Flutter Entertainment, according to regulatory filings published on the London Stock Exchange.
The filing showed that CIBC purchased more than 9.2 million shares in Flutter on May 15, giving the bank a 5.3% ownership stake in the gambling group. Based on Flutter’s recent share price of $97.38, the holding is valued at around $899.5 million.
CIBC, which had not previously held shares in Flutter, is Canada’s fifth-largest lender by revenue and is part of the country’s ‘Big Five’ banking group. Other financial institutions have also increased their positions in Flutter in recent weeks. Bank of America raised its holding from 9.6% to 10.4% on May 18, with that stake valued at more than $1.77 billion.
Flutter, which owns popular sportsbook FanDuel, has faced pressure on its share price over the past year. Analysts have cited slower growth in the US, increased competition from prediction markets, and higher taxation in the UK market.
The company also recently lowered its full-year outlook despite reporting first-quarter results that exceeded expectations.
Poll Finds Majority of Canadians View Gambling as Harmful
A national survey has found that most Canadians support legal gambling while also viewing the activity as harmful to society.
According to the poll by Research Co, 60% of respondents said gambling should remain legal, while 40% said it should be illegal. However, 66% described gambling as detrimental to society compared with 34% who considered it beneficial.
The survey also found that 56% of respondents said gambling is bad for sports, while 44% viewed it positively. The biggest concerns were gambling addiction, advertising, and the exposure of children and teenagers to betting content.
Around 76% of respondents said they were concerned about the increased risk of gambling addiction. In comparison, 72% expressed concern about the normalization of gambling among young people, and 64% said there was too much betting advertising during televised sport.
The survey also found that 12% of Canadians placed a sports bet through a licensed operator in the past year, with participation highest in Ontario and among people aged 18 to 34.
bet365 Registers for Alberta Online Gambling Market
Sports betting operator bet365 has registered to operate in Alberta’s regulated online gambling market ahead of the province’s planned July 13 launch date.
The company was added to the Alberta Gaming, Liquor and Cannabis Commission’s list of approved gaming registrants on Monday, registering its online casino and sports betting platforms. It becomes the sixth operator to confirm plans to launch multiple brands in the province.
Alberta is preparing to become the second Canadian province, after Ontario, to introduce a regulated private online gambling market, and 31 registered platforms are expected to launch when the market opens.
Several operators plan to offer multiple platforms. Cadtree Limited currently has five registered brands, while Caesars is preparing to launch Caesars Palace, Horseshoe, and its sportsbook platform.
DraftKings has registered both its DraftKings and Golden Nugget brands, while Bally’s plans to operate BallyBet and Monopoly Casino.
Regulators are continuing to process applications ahead of launch, with additional operators expected to join the market in the coming weeks.
Ziv (Steve) Chen
CEO at Major League Content
Ziv has been working in the iGaming industry for more than two decades, serving in senior roles in software developers like Playtech and Microgaming. He then followed his lifelong passion of writing and became a fulltime journalist, covering casinos, sports betting, legislation and other gambling topics and news with a specialty in North America.
Linkedin: https://www.linkedin.com/in/ziv-steve-chen-94b01b5/
