NorthStar Gaming is flipping the Canadian online gaming scene on its head following the announcement of the company’s successful removal of its common shares from the Canadian Stock Exchange and the acquisition reversal of Baden Resources.
The Ontarian sportsbook has made huge strides to establish a Canadian online gaming firm, pouring out large investments in an effort to stand out from the crowded gaming space. The company has doubled down on its efforts, securing a strategic CA$12.25m investment from Playtech, for the launch of their MS platform, Casino, Live Casino, Poker and Bingo technology in Canada.
The reverse acquisition saw Baden merge with NorthStar Gaming and a wholly-owned subsidiary of Baden. As a result, Baden re-branded into NorthStar Gaming Holdings Inc and its common shares were de-listed from the Canadian Stock Exchange.
NorthStar Gaming now operates and owns NorthStar Bets which was developed with the support of Playtech and Kambi, launching recently in the province of Ontario as an online casino and sportsbook gaming platform.
In an effort to elevate NorthStar’s player experience, the prominent Canadian sportsbook and online casino provider is focusing heavily on its investment to build an online gaming company like no other. It aims to do so by differentiating itself from the ocean of similar providers within the iGaming sector. Their recent strategic investment from Playtech is a testament to this. Their plans of offering CA no deposit bonuses for sportsbooks is not new but they seem confident that their offerings will be better.
Playtech Partnership
Alongside Playtech’s strategic investment in NorthStar, both companies have also extended their existing software and services deal, which was originally made back in December 2021, by another 10 years.
As was previously agreed in June 2022, the investment will turn into equity and warrants in relation to NorthStar’s reverse takeover of Baden Resource Inc. Following the completion of the takeover, the world’s leading gambling technology company now owns around 16% of the issued and outstanding common shares belonging to NorthStar. Playtech’s shareholding can increase to 31.3% if they choose to exercise two separate warrants before the 3rd of March 2028.
The company’s chief financial officer Chris McGinnis will also join the board of directors as a non-executive director, acting as Playtech’s representative.
New Additions
Playtech’s Chris McGinnis is not the only new addition to NorthStar’s board. The Ontarian Sportsbook and Casino have appointed seven additional new directors in an effort to diversify the board with a broad range of expertise to continue NorthStar’s success.
The new directors include Michael Moskowitz Northstar’s founding partner as well as
Vic Bertrand, Brian Cooper, Chris Hodgson, Dean MacDonald, Sylvia Prentice and Barry Shafran. The new additions will bring years of experience from different industries including communications, programming and gaming operations.
TSX Venture Exchange
Following NorthStar’s successful takeover of Baden Resources, the operator will now list its common shares on the TSX Venture Exchange, under the ticker symbol $BET. The Venture Exchange, which is a subsidiary of the Toronto Stock Exchange, is focused on seeking out growth capital for young companies.
Michael Moskowitz, NorthStar’s CEO and founding partner, stated that the company’s public listing is a significant milestone, providing customers with the exciting opportunity to buy into NorthStar’s success and become shareholders.
About NorthStar Gaming
NorthStar Gaming is a Canadian-based company, that owns and operates NorthStar Bets. The platform is well-regarded for its top-tier user experience, online casino games, and real-time sports news. In fact, just last year NorthStar was named as an authorized gaming operator of the National Basketball Association (NBA), gaining the ability to provide real-time NBA data to its customers and use official NBA marks and logos within the platform.
The company is undoubtedly a force to be reckoned with within the growing Canadian online gaming landscape, forming lucrative partnerships with leading media companies to leverage existing sports content and strong brands. The responsible gaming operator is also committed to responsible gaming practices ensuring that players’ rights are always protected.