NorthStar Gaming to expand reach across Canada

The exciting operator NorthStar Gaming is widening its online sportsbook and casino across the country after a business acquisition opened up the region for the company.

Due to licensing conditions, the operator, launched in May 2022, was initially only allowed to participate in the Ontario province. However, its partnership with Slapshot Media, which delivers bespoke services to betting and iGaming businesses, is opening up an entire frontier.

NorthStar chair and CEO, Michael Moskowitz, believes it to be an integral moment for the company.

In a statement, he said: "We are thrilled to take this ground-breaking step and become a truly national brand. As a Canadian company, we are confident we understand local consumers better than the large international competitors and offer a premium experience that best meets their needs.

"We expect the Canada-wide launch to be an important catalyst that drives growth in our customer base and revenues for years to come."

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Growth Acceleration on the Agenda for NorthStar

northstar gaming expands

While it is a bold move, NorthStar Gaming Holdings Inc expanding outside of their home province of Ontario reflects the business' desire to kickstart a comeback following some below-par second-quarter results announced in August.

Despite record revenues, they experienced continuing losses in Q2. However, significant growth was seen in areas such as revenue, handle and gross margin.

A recent reverse takeover of the business by Canadian property giant Baden Resources affected the figures.

The takeover involved Baden combining with Midway Property to form a new entity known as NorthStar Gaming Holdings Inc, including a wholly owned subsidiary of Baden. As part of this deal, the former security holders of NorthStar became majority owners of the company, resulting in Baden changing its name and de-listing their common shares from the Canadian Stock Exchange.

With this new leadership and ownership structure, NorthStar Gaming Holdings Inc is now poised to move boldly toward expansion outside Ontario. While no definite timeline has been announced for this initiative, it is clear that the company is determined to grow its presence in other markets and capitalise on its record revenue results. Overall, the change will likely present an exciting new chapter for NorthStar Gaming as they continue to make strides towards becoming a significant player in the gaming industry.

Online Gambling in Ontario - 1 Year On

The iGaming industry in Ontario has experienced a remarkable surge in growth and competition since it was legalised one year ago. According to the latest data from Q1 2023, there are currently 46 companies operating 71 brands in the province. This number is expected to continue increasing as more businesses realise the potential of this market.

Unlike other jurisdictions in the United States where two major players dominate the market, Ontario boasts a diverse landscape with multiple operators sharing a significant portion of the market share. This diversity is evident in the impressive online wagering numbers, with 920,000 consumers spending CA$ 14.0 billion on online gaming activities - making it the largest single market by revenue in North America.

With such a strong and varied market landscape, Ontario remains an attractive destination for iGaming companies looking to expand their operations.

Dmitry Rogalchuk
With over 5 years of experience in iGaming, Dmitry Rogalchuk leads a content team at CasinoCanada, ensuring that every article on the CasinoCanada website is informative and engaging for our readers.
Head of Content
The University of British Columbia
The University of British Columbia & McGill University degrees, strategic marketing & content leadership expertise, sales strategies development
Expert in:
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  • Latest News in iGaming
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Last updated on: 19.03.2024

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