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CTV News
43 minutes ago
- CTV News
Downtown Kitchener businesses believe food trucks drove away their Canada Day sales
Some businesses in downtown Kitchener are accusing food trucks of driving away their Canada Day business. CTV's Karis Mapp reports.
CTV News
2 hours ago
- CTV News
Judge bans offshore gambling site Bodog from operating in Manitoba
The Manitoba Law Courts building in Winnipeg on Wednesday, May 8, 2024. (THE CANADIAN PRESS/John Woods) A Manitoba judge has banned an offshore gambling site from operating in the province. In a court order from May 26, Court of King's Bench Judge Jeffrey Harris ruled that the companies running and any other related successor or replacement websites—must stop operating gambling products and services that are accessible to people in Manitoba. The Antigua and Barbuda-based company Il Nido Ltd. and Sanctum IP Holdings Ltd. must implement geo-blocking technology to prevent Manitobans from engaging with the gambling products as part of a permanent injunction. The companies are also ordered to stop all advertising that is targeting or accessible to people in the province. Manitoba Liquor and Lotteries (MBLL) previously sought an injunction earlier this year on behalf of the Canadian Lottery Coalition to stop the companies from operating or advertising Bodog within the province. According to the order, Manitoba Liquor and Lotteries Corporation (MBLL) is 'vested with the exclusive authority to conduct, manage and offer lotteries in Manitoba, including online gambling products.' Bodog has no statutory exception, per the court filing. The Criminal Code of Canada prohibits all betting, gaming and lottery activities in the country, with an exception for provinces conducting gaming operations or licenced organizations. The court filing also said Bodog is not regulated by any Canadian authority or subject to scrutiny. As a result, it has no requirement to implement responsible gambling features, pay taxes or comply with anti-money laundering requirements in the country. The gambling site, which allows players to bet on sporting events and casino games, advertises itself as a 'legal online casino in Canada' and as 'one of the safest places to gamble online within the realms of the country,' per the ruling. The order adds that 'Bodog's false representations regarding its legality, legitimacy, trustworthiness and safety are violations of the Competition Act and the Trademarks Act.' Incalculable harm to Manitobans: MBLL CEO 'We could not be more pleased with this ruling,' said MBLL CEO Gerry Sul in a Canadian Lottery Coalition news release. 'Bodog's conduct has not only been unlawful, the harm their illegal operations have caused to MBLL—and Manitobans—is incalculable," he said. According to MBLL's website, every dollar earned in profit is reinvested into the province to fund government programs, such as health care, education, social services and housing. For the fiscal year ending in 2024, MBLL returned nearly $380 million from its casino, lottery, online gambling and video lottery offerings, according to the ruling. The previous year's return is reported at over $390 million. The ruling said because Bodog's operations are located offshore and outside the reach of Canadian authorities, it is 'highly unlikely that MBLL would be successful in any effort to enforce the significant monetary judgment against them.'
Globe and Mail
2 hours ago
- Globe and Mail
Can Dogecoin Reach $1 in 10 Years?
A lot of attention deservedly goes to the ongoing artificial intelligence (AI) boom. But investors can't forget another important innovation in the past decade or so, which is the rise of cryptocurrencies and blockchain networks. Love the industry or hate it, the market is valued at $3.3 trillion. So, there's certainly demand. However, critics will point to how much speculation characterizes the crypto industry. Dogecoin (CRYPTO: DOGE) might be the main culprit of this frenzy. The dog-inspired meme token was originally created as a joke. But now it's the ninth-most valuable crypto, worth $24 billion. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » In the past 10 years, Dogecoin's price has surged 82,140% higher, despite unnerving bouts of volatility. As of June 26, it trades 78% below its peak from May 2021. Can this token rise 525% to reach $1 in 10 years? Unpredictable price swings Casinos are popular partly because of the thrill they provide to gamblers. I suppose the same behavioral aspect can apply to Dogecoin. The token experiences wild price movements. For instance, it absolutely skyrocketed in November through the first week of December. But it's been a disappointment in 2025. Trying to time the ups and downs is fun for certain market participants. But this highlights the unpredictable nature of Dogecoin. There are really no fundamental reasons for why the price bounces around like it does. Instead, excitement on social media can control the narrative. And public endorsements by Elon Musk can also work wonders for the token's price. This enthusiasm can rapidly fade away, though. This makes it all the more difficult to trust Dogecoin as a long-term investment. The other issue that Dogecoin faces, particularly when it comes to increasing in price, is that there is not a supply cap. As of June 26, there are 150 billion DOGE tokens in circulation. Thanks to its proof-of-work consensus system, 5 billion new tokens are created every year. A rising supply base simply means demand has more catching up to do for the price to go up over time. That's a tough setup. Pending a major catalyst Dogecoin might have limited real-world use cases. However, it might be getting a major stamp of approval from the Securities and Exchange Commission (SEC). Multiple spot Dogecoin exchange-traded funds (ETFs) are waiting for the go-ahead. This could bring in lots of capital. This is exactly what happened with Bitcoin. Since the SEC finally approved spot Bitcoin ETFs on January 10, 2024, the price of the world's leading cryptocurrency is up 133%. These ETFs have amassed tens of billions of dollars in assets under management. I am confident the Dogecoin ETFs, if approved, won't come anywhere close to Bitcoin's success. But there is certainly upside if this happens, because the SEC would essentially be publicly portraying that Dogecoin is a legitimate financial instrument -- a development I'm sure the vast majority of observers never thought would happen. Don't expect a 525% rise by 2035 Dogecoin's price is currently $0.16. It would need to increase by 525%, or 20% on an annualized basis, to reach $1 by 2035. I don't think this bullish outcome will occur. First off, competition is stiff. Investors have plenty of other choices when it comes to meme tokens. If speculation is your thing, there are other, younger cryptos that might be more volatile to trade with. There are also safer bets such as Bitcoin. The financial services ecosystem that supports Bitcoin continues to expand. This crypto has a hard supply cap of 21 million. And it has deep liquidity and a powerful network effect that Dogecoin can only dream about. In the past three years, Bitcoin's 398% gain dominates Dogecoin's 140% rise. I believe this trend will continue over the next decade and beyond. Therefore, those expecting the dog token to get to $1 in 10 years, or ever, should temper their expectations. Should you invest $1,000 in Dogecoin right now? Before you buy stock in Dogecoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor 's total average return is1,062% — a market-crushing outperformance compared to177%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 23, 2025
