Canada

NorthStar Gaming Reports First Quarter 2024 Results

Published

4 months ago

May 28, 2024

NorthStar Gaming Holdings Inc. released its financial results for the three months ended March 31, 2024. All dollar figures are quoted in Canadian dollars.

“In the first quarter we continued our pattern of strong year-over-year growth, highlighted by record total wagers. Our premium customer experience and growing brand awareness are propelling higher player retention, strengthened loyalty and increased player values. These positive trends enable us to spend our marketing dollars more efficiently, contributing to improved operating leverage as the business scales,” Michael Moskowitz, Chair and CEO of NorthStar, said.

Financial highlights for the first quarter ended March 31, 2024:

Revenue, including managed services fees, net of bonuses, promotional costs and free bets, was $5.9 million in Q1 2024, an increase of 63% over $3.6 million in Q1 2023.
Total Wagers1 at Northstarbets.ca were $218.0 million in Q1 2024, an increase of 56% compared to $140.2 million in Q1 2023.
Gross Gaming Revenue at NorthStarbets.ca was $7.0 million in Q1 2024, an increase of 59% over $4.4 million in Q1 2023.
Gross Margin was $2.2 million in Q1 2024, an increase of 91% over $1.2 million in Q1 2023, and represented approximately 37% of revenue compared to 32% of revenue in Q1 2023.

Recent Operating Highlights:

Notable year-over-year improvements in key performance indicators (KPIs) included a 42% increase in active players, a 9% decline in cost per acquisition of a customer (CPA), and a 54% increase in estimated 12-month player values.
Renewed the strategic marketing agreement with Playtech Software Limited, which will contribute services valued at up to $4 million through to October 31, 2024, designed to accelerate player acquisition in Ontario.
Secured $3 million of short-term financing to fund the Company’s continued growth through an unsecured promissory note to Playtech plc dated April 25, 2024 repayable in one year, or earlier upon completion by the Company of additional financing transactions.
Recently celebrated the second anniversary of the NorthStar Bets platform, which launched in Ontario on May 9, 2022. Northstarbets.ca has generated more than $1 billion in total wagers1 in its first two years of operations.
Ongoing roll-out of enhancements to the Company’s “Sports Insights 2.0” content vertical, an initiative announced in February 2024, with recent additions including player injury reports from industry leader RotoWire and a revised content strategy placing a greater emphasis on casino.
Launched the VIP Elite program to help secure the loyalty and satisfaction of our most active players.
Introduced branded studios for select live dealer games, prominently showcasing the NorthStar Bets brand and reinforcing the Company’s positioning as a premium offering.
Continued to strengthen the Casino vertical, which has surpassed 650 games covering all major categories and curated from leading vendors worldwide.

“March was the strongest month of Q1, and we have maintained that momentum into the second quarter. Our team is making regular improvements to our service offering, such as the recent launch of a VIP Elite strategy aimed at the most active players who drive a meaningful share of our results. We have some exciting demand creation activities planned for the coming months along with further innovations to our platform and content. We remain focused on unlocking value for our stakeholders and are excited about the opportunities ahead of us in 2024,” Mr. Moskowitz said.

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Canada

Play Alberta, CSEC Extend Partnership

Published

2 days ago

September 27, 2024

Niji Narayan

Teams under the Calgary Sports and Entertainment Corporation (CSEC) banner have expanded their long-term partnership with Play Alberta, the province’s premier iGaming destination. As part of the agreement, the Flames will feature AGLC’s responsible gambling program, GameSense, on their home helmets and a Play Alberta insignia displayed on their home jerseys. The Stampeders, Wranglers, and Roughnecks will integrate the Play Alberta logo onto their uniforms.

“There’s significant importance now to showcase meaningful responsible gambling efforts in the iGaming industry. I’m proud of our initiatives to provide GameSense with such a visible platform. GameSense promotes healthy gambling habits online and in person and including AGLC’s responsible gambling platform over the course of this partnership is a huge accomplishment,” Kandice Machado, Chief Executive Officer at AGLC.

The agreement makes Play Alberta the exclusive sports betting and online gaming partner of the Flames, Wranglers, Stampeders, and Roughnecks. Through the partnership, Play Alberta and CSEC will develop unique partnerships and in-arena giveaways during the season.

“Through GameSense, our partnership with Play Alberta equips our fans with the knowledge required if they wish to participate in gaming while they support their home team. We are both proud and excited to extend our relationship with Play Alberta that makes cheering for our teams that much more fun while also generating revenue to support the quality of life for Albertans,” said CSEC President and CEO Robert Hayes.

Alberta is the first jurisdiction in North America to partner with professional sports franchises and integrate PlayAlberta.ca and social responsibility branding onto uniforms. It upholds AGLC’s commitment to responsible play, raising awareness of GameSense and Self-Exclusion, resources that give bettors the tools they need to make healthy gambling choices.

In addition, proceeds generated through the website go toward the province’s General Revenue Fund. In 2023–24, $235 million was generated for programs and services that Albertans rely on every day through Play Alberta, an increase of more than $42 million from the previous year.

Canada

BCLC Partners with CFL as Official Sports Betting Partner in British Columbia

Published

2 days ago

September 27, 2024

Niji Narayan

The Canadian Football League (CFL) and British Columbia Lottery Corporation (BCLC) have partnered to make BCLC’s online sportsbook – PlayNow Sports – the official sports betting partner of the 111th Grey Cup. BCLC, the only legal gaming operator in the province, is the newest Authorized Gaming Operator to partner with the league. The partnership builds upon BCLC’s commitment to football in the province – as both a longstanding supporter of the BC Lions and as an enthusiastic proponent of bringing the Grey Cup to Vancouver.

“BCLC is immensely proud to have PlayNow Sports as the official sports betting partner for the 111th Grey Cup. As a social-purpose company, BCLC works every day to generate win-wins for the greater good and serve in the best interests of the communities we call home. We’re thrilled to help bring together BC Lions and CFL fans from across the country in the spirit of celebration and community at this year’s Grey Cup Festival,” said Dan Beebe, BCLC’s Chief Operations Officer.

In celebration of Canada’s largest single-day sporting event returning to B.C. for the first time since 2014, the CFL and BCLC are holding a special contest for fans in B.C., Saskatchewan and Manitoba. The Grand Prize consists of two tickets to the championship game, two Grey Cup Festival passes, travel, accommodation, $500 in PlayNow Sports free bets and more.

“Responsible sports wagering, and the entertainment it provides, is an important part of the future of CFL fandom. Our work with BCLC allows fans to deepen their connection to the league, but more importantly, it strengthens our efforts to support British Columbians and the community through the valued programs and services they rely on every day,” said Tyler Keenan, the CFL’s Chief Revenue Officer.

The CFL’s province-specific Authorized Gaming Operator program works with partners to authenticate and regulate the league’s sports betting landscape. In 2023, the league complemented its existing wagering policies and by-laws with an enhanced Match Manipulation Policy. It is highlighted by an annual education component for all full- and part-time CFL personnel, including players, regarding their individual roles and responsibilities in supporting the league’s high standards for integrity and responsible gaming practices. All CFL personnel are strictly prohibited from wagering on league activities.

Canada

Goldrush Expands to Ontario with Delasport’s Turnkey Solution

Published

2 days ago

September 27, 2024

George Miller

Goldrush Expands to Ontario with Delasport’s Turnkey Solution

South Africa’s premium online gaming and entertainment provider, Goldrush Gaming, is expanding to Ontario, Canada, powered by Delasport’s full turnkey solution and managed services. The partnership is another key step in both Delasport’s steady positioning in the key Canadian jurisdiction and Goldrush’s streak of cross-vertical success in iGaming.

The award-winning supplier’s solution is designed to accommodate all Online Sportsbook and Casino needs, and Goldrush’s players in Ontario will soon enjoy the most innovative Casino and Sportsbook features in the industry. These features include player engagement tools such as SuperPot, missions and tournaments, unmatched personalization capabilities with My Sportsbook, My Casino, My Combo, and My Event Builder, Booster Panel for mobile devices, and Hot & Cold Casino game categories, and much more.

“Partnering with established brands such as Goldrush in Ontario is an honor and confirms that we’re on the right track with a third partner in this market, in turn validating our global expansion strategy”, comments Delasport’s Global Sales Director Reece Calderbank. “In the hands of partners like Goldrush, the quality and innovation our products provide to customers will enable Goldrush’s talented team to offer the best betting experience in the market to their players.”

Goldrush Online Director Dwain Powell shares this sentiment. “Goldrush’s legacy of premier gaming will offer Canadian players a diverse, rewarding entertainment experience. We are excited to extend our product and services to the Canadian market and believe that Delasport is the perfect partner to achieve our goals – all while bringing customers a unique and memorable gaming product’’.

Goldrush Group Canada is a branch of the esteemed Goldrush Gaming Group, which was established in South Africa over 25 years ago.