Newspaper Moves Into Online Gambling To Fund Operations

Living in this technologically advanced era, we must admit the fact that people are giving more preference to electronic Media. Therefore, the popularity of the printed newspaper is decreasing day by day. Talking about the media outlets, they have embraced the internet as it has brought a golden opportunity for them. Anyway, we cannot deny the fact that the advertisement revenue is drying up, and reading newspapers has become bleak. As a result, publishers all over the world are looking for innovative and efficient ways through which they can fund journalism that is, no doubt, a costly industry.

If you consider the present era, you will realize that amid this pandemic situation, online gambling applications have gained huge popularity. People are unable to visit casinos; therefore, they are preferring online platforms. As the brick and mortar industries in the sphere of gambling are going down, the newspaper companies are grabbing this golden opportunity. They are stepping into online gambling in order to survive.

Torstar Launching New Gambling App

Well, there are many publishing houses that are coming up with new ideas in order to generate revenue. Among them, launching online gambling games is remarkable. Yes, newspaper publishing houses are moving into online gambling in order to fund operations. As per the latest news report, one of the well-known newspaper publishers in Canada announced that they would be launching a new online gaming app. It clearly indicates that publishing houses are trying to push the boundaries. These companies are trying their best to survive in this competitive ecosystem.

Corey Goodman who is a Torstar executive said in a statement that Torstar will be providing a unique and satisfactory gaming experience. Moreover, it will create new jobs. It will play a very impactful role in the growth of the economy in Ontario. Apart from this, it will generate more tax revenue in order to financially support various important programs in the province.

If we talk about the online gambling market, it is growing day by day. Therefore, the company is claiming that they will be able to generate a good amount of revenue with the help of their upcoming app. Talking about Torstar, this company has been publishing newspapers since 1892. The company owned more than 70 community and regional newspapers. Well, the owners are of the opinion that they will use this in order to make the ecosystem of journalism more stable and better.

From auto manufacturing to communications, we are living in an age where such innovations are needed to turn a profit.