Canada's popular paper Torstar to launch online casino to help its journalism sustain

Torstar, the parent company of the Toronto Star newspaper based out in Canada recently announced that it is set to launch an 'online gaming app' for its readers who will visit their website for news content. It is touted to be the biggest newspaper publishing firm in Canada. Given that most advertising revenues in newspapers across the world have been hit after the pandemic, the new owner of Torstar — NordStar Capital LP aims to generate a revenue of C$500m ($395).

The online gaming space via virtual casinos has only evolved to become better since it was first launched in 1996 with InterCasino — a virtual platform that is still popular among Canadian gamblers. Over twenty years and the continent has seen a rise in companies teaming with online gamers who provide the former with tools that give visitors on a website a real gambling experience.

Torstar launches online casino to sustain journalism arm

Torstar has also stepped into this platform to support and fund its journalism that the news company is known for globally. It owns more than 70 regional and community newspapers and started operating as a full-fledged news company in 1892. Torstar's executive Corey Goodman in a statement explained the paper's arrival to this juncture as "A way to help support important programmes in our province while promoting a unique and responsible gaming brand that will generate revenue, jobs and will boost the Ontario economy."

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The online casino sector encourages games which interest gamers and that is how such platforms are legal to operate in many parts of Canada. Every Canadian province that allows online casinos, has its own norms. Over four Canadian provinces have regularised gambling on their territory that includes Ontario, British Columbia, Quebec, and Manitoba. Authorities in these provinces systematically legalise online casinos after issuing the required norms, that the companies involved have to abide by.

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Moreover, there are popular payment methods that have a web portal for companies to understand the concept of online casino/ gaming or gambling. While gamblers and gamers have inclined to the webspace avoiding visits to the physical casinos, such payment gateways have are trustworthy electronic wallet system that encashes the winning amount to a user's account. Torstar's entry into this space is part of its experimental strategy to generate enough revenue for the sustainability of its journalism.

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An American media report quoted the Chair and co-owner of Torstar Paul Rivet as saying “This step by Torstar will serve to be an aid for the growth and development of quality community-based journalism." NordStar Capital LP after it bought Torstar in August 2020 for C$60 million, has been trying out ways that will help the newspaper thrive in a consistent manner. Online casinos can be one of the best options as the idea of gambling in a responsible way is promoted in many parts of Canada. 

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