GME3: iGO Hotstreak Continues, PRIME Time Trademark Trouble, & Going for (Virtual) Gold

For this week’s edition of the GME3, we’re looking at iGO’s report for Q1 of the 2024-25 fiscal year, and two Olympic stories! The first is a lawsuit filed by the U.S. Olympic and Paralympic Committee against PRIME, an energy drink company founded by YouTube stars Logan Paul and KSI, over trademark infringement. The second is the International Olympic Committee’s announcement of the creation of the Olympic Esports Games! Find the full stories below.

Gambling

iGO Hotstreak Continues

iGaming Ontario has released its market performance report for the first quarter of the 2024-25 fiscal year, and, based on the numbers, the Ontario market is continuing to grow rapidly. In Q1, Ontario bettors placed $18.4 billion worth of wagers on regulated igaming sites, a 3.4% increase over last quarter and a 31% increase over Q1 of last year. Total revenue increased to  $726 million, which is a 5.2% increase over Q4 and a 34% increase year-over-year.

Martha Otton, Executive Director of iGaming Ontario, had this to say about the report:

“With 50 regulated Operators and a one-third increase in wagering and revenue figures over the first quarter of last year, Ontarians who choose to gamble are finding many enjoyable options in our open regulated igaming market. The revenue generated by Ontario’s competitive igaming market contributes directly to provincial priorities such as infrastructure, healthcare, and education.” 

The split by category remains similar to previous quarters:

• Casino games – like slots, live and computer-based table games, and peer-to-peer bingo – continue to dominate with almost $15.5 billion (84%) of total wagers and $529 million (73%) of gaming revenue.

• The next biggest category is betting – including on sports, esports, proposition, and novelty bets – which contributed $2.5 billion (14%) of total wagers and $181 million (25%) of gaming revenue.

• Finally, peer-to-peer poker accounts for $402 million (2.2%) of total wagers and $16 million (2.2%) of gaming revenue.

Poker remains a bit of an underdog in the Ontario market, in part because P2P poker is ring-fenced here in the Heartland Province, meaning that Ontarians can only play with other Ontarians.

At least for now! The Ontario Court of Appeals is currently considering the question of international liquidity sharing, which would open the door to expanding Ontario’s player pools internationally. The case is heating up, and far beyond the scope of the GME3 to address all the factors.

Luckily, our own Jack Tadman contributed to the most recent episode of the Gaming News Canada podcast on that exact topic! If you want to learn more about the shard liquidity case check out the full episode here!

Media

PRIME Time Trademark Trouble

The U.S. Olympic and Paralympic Committee is suing PRIME, an energy drink company founded by YouTube stars Logan Paul and KSI, for trademark infringement. The Committee alleges that PRIME used trademarked symbols and phrases as part of their most recent marketing campaign that featured 2024 U.S.A. men’s basketball team member, and general NBA superstar, Kevin Durant.

The suit goes so far as to describe the campaign in question as “willful, deliberate, and in bad faith” in its, allegedly, deliberate use of materials related to the 2024 Summer Olympics in Paris. Some of the phrases included:

• “Olympic”

• “Olympian”

• “Team USA”

• “Going for Gold”

Furthermore, ad copy for the product repeatedly referred to it as “Kevin Durant Olympic Prime Drink” and referred to the “Kevin Durant Olympic Legacy.”

According to the suit, the Committee reached out to PRIME earlier this month requesting that the company cease using any trademarked materials in their marketing. This warning went unheeded, as PRIME continued to advertise the beverage on multiple platforms until the suit was filed. Said advertisements have now been taken down from the brand’s social media channels.

Entertainment

Going for (Virtual) Gold

In our final story of the week, we’re featuring another interesting development related to the Olympics. Earlier this week, the International Olympic Committee (“IOC”) announced the creation of the Olympic Esports Games

Last year, the IOC organized the Olympic Esports Week in Singapore, an event that pitted athletes against each other in simulated sports including archery, baseball, chess, dance, both inshore and offshore sailing, taekwondo, and more.  There was also a variety of show matches for more standard video games, like Street Fighter and Rocket League. 

The Esports Week was so successful that the president of the IOC requested for the IOC Esports Commission to begin assessing whether a broader Esports Games would be viable. The first Esports Games is planned to be held in Saudi Arabia in 2025. The details, including city and venue, the specific timing of the event, the titles to be included, and the qualification process for the players, are still to be determined.