As society progresses more and more it has come to light just how successful some industries are in comparison to others. One sector in particular that is excelling recently in terms of both popularity and the revenue generated by it is the gaming industry.
In fact, although the gaming industry is booming on a global scale it is particularly successful in Canada as the country’s own gaming industry is now worth billions of dollars and is projected to see a steady increase as time moves on. In this context, it is worth exploring the reasons why this sector has gained more attention in recent years.
Canada’s gaming market overview
Firstly, one reason why the gaming industry has truly taken off in Canada is owing to the impressive amount and variety of gaming genres that are available to choose from. From video games to casino games those who want to escape their reality for a while and entertain themselves are spoilt for choice. As this article shows thanks to technological innovations there are now more legitimate online casinos than ever for those Canadians who want to have a positive and safe experience.
Moreover, another explanation for the flourishing of gaming in Canada is because of the Canadian government which has continuously demonstrated its support for the industry, by offering tax breaks as well as other incentives.
On top of this, Canada is globally renowned for having a myriad of world-class game development studios, such as Ubisoft Montreal and Bioware. Not only have these studios drawn positive attention to Canada but they have also fostered the growth of other smaller gaming companies. Additionally, Canada boasts an outstanding independent games development scene, which has been responsible for producing some of the most well received video games.
Gaming stocks impact
Furthermore, a large part of the reason why gambling has prospered in Canada is due to the input of video gaming stocks. Video game stocks are companies who make, sell, and publish video games. This is made up of Companies such as Electronic Arts and Microsoft, that are companies that publish video games and manufacturers of video game hardware companies, such as Sony and Nintendo. In fact, in 2023 there are a whole host of top gaming stocks to watch this year.
One of these is Bragg Gaming which provides B2B online gaming technology services worldwide. Although this company was founded in 2004, it has only really begun to find its feet in the past few years and should be on everyone’s list to watch in 2023. Indeed, it has strong potential to generate a lot of profit in the coming year and has the potential for long term growth. Standing high in the top performing list of Gaming stocks, the Canada-based Bragg Gaming falls under the Electronic Gaming & Multimedia sub-sector business under the larger Communication sector.
Moreover, Jackpot Digital is another Canadian based gaming stock that cannot be underestimated in 2023. It is responsible for the developing, marketing, leasing, and providing of electronic table games. Its appeal lies in its ability to provide gaming fans with multiplayer gaming products, such as poker and casino games. This gaming stock utilizes technology to ensure that the operations of their games is much quicker which has resulted in an impressive amount of revenue that has been generated as a result.
Like many successful Canadian stocks that are projected to prosper in 2023, this company has taken steps to see how they could use modern technology to advance their games. For instance, many gaming stocks are now moving towards a focus on Virtual Reality (VR), Augmented reality (AR), mixed reality (both AR and VR), Unreal Engine Game Development and 3D game development.
Another gaming stock that needs to be recognized during 2023 is Gamehost Inc which operates in hospitality and gaming properties in Alberta, Canada. This company manages to generate the bulk of its revenue from the Gaming Segment and this trend is set to continue into the coming year. Their services include casinos offering slot, lottery, and table games and so far, they have generated millions in revenue. Crediting their professional and passionate team for their success, Gamehost is certainly a company that will stand out in the long term.
In conclusion, although Canada has experienced tremendous success in a number of industries including construction, finance and transport the country has truly flourished with their gaming industry and there are many reasons why this is so. From the gaming facilities that Canada has such as elite studios and high-quality games developers to the contributions made by gaming stocks, the country certainly has become an extremely alluring destination for games developers and gamers. In the future, it is predicted that the gaming industry in Canada will continue to thrive as it has a lot of potential in terms of what it can offer the sector including its talented workforce and unique ideas.