NorthStar Gaming (NSG), a leading online casino and sportsbook operator based in Ontario, has completed the acquisition of Slapshot Media, a Canadian sports betting marketing company that provides managed services to the iGaming platform, Spreads.ca. This strategic move is poised to enhance NSG’s current offerings and is in line with the company’s expansion strategy, bolstering its position in the Canadian market.
Expanding Their Portfolio:
The acquisition of Slapshot Media aligns with NorthStar Gaming’s vision to broaden its market presence and expedite its entry into new regions. Slapshot Media has been a key player in the Canadian sports betting and iGaming space, offering managed services to Spreads.ca.
Focused on Ontario:
It’s worth noting that Spreads.ca is not and will not be available in Ontario. NorthStar’s online casino and sportsbook, NorthStar Bets, remains the sole offering in the province. This underscores NorthStar’s commitment to providing a tailored and competitive gaming experience in Ontario.
The Acquisition Details:
NorthStar will acquire 100 percent of Slapshot’s issued and outstanding shares for C$1.8 million. This transaction will be facilitated through the issuance of 3,272,727 common NorthStar shares, each valued at $0.55. As is customary, the purchase price is subject to post-closing adjustments for working capital.
Strategic Growth and Expansion:
Michael Moskowitz, Chief Executive Officer and Founding Partner of NorthStar, expressed his enthusiasm about the acquisition’s strategic significance. He highlighted that this move would empower NorthStar to rapidly enter new markets and introduce NorthStar Bets to consumers across the country. The focus is on expanding NorthStar’s reach and becoming a prominent player in the Canadian iGaming landscape.
Additional Investments and Partnerships:
NorthStar Gaming has also recently announced an investment from gaming technology supplier Playtech. This investment, amounting to C$12.2 million, is part of a strategic partnership where Playtech will serve as an investor and advisor to NorthStar. The funds will be provided in the form of a convertible debenture and will be converted into equity and warrants as part of NorthStar’s proposed reverse takeover of Baden Resources Inc.
NorthStar Gaming’s acquisition of Slapshot Media marks a significant step forward in its expansion journey. By broadening its portfolio and securing strategic partnerships, NorthStar is poised to become a major player in the evolving Canadian iGaming and sports betting market. This move showcases the company’s commitment to delivering a diverse and competitive gaming experience to consumers nationwide.