Connect with us
Midnight Princess - Power of Love slot game by Play'n GO
Midnight Princess - Power of Love - Slots game by Play'n GO

Canada

NorthStar Gaming Reports First Quarter 2024 Results

Published

on

 

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.

Advertisement
Stake.com

Canada

The Mill Adventure Secures Gaming-related Supplier License in Ontario

Published

on

 

The Mill Adventure has announced that it has secured a gaming-related supplier license from the Alcohol and Gaming Commission of Ontario (AGCO).

The Mill Adventure can now provide its full-service player account management (PAM) platform to licensed operators in Ontario. This achievement demonstrates the provider’s proactive approach to capturing opportunities in fast-evolving, regulated markets.

As one of North America’s most dynamic iGaming markets, Ontario offers substantial growth potential for innovative companies, providing unique avenues for exploring cutting-edge technologies, diverse player engagement strategies, and partnerships with leading operators.

“The dedication and ingenuity of our team, coupled with our stringent compliance standards, have propelled us to this significant milestone. We are eager to introduce our platform to local operators and revolutionize gaming experiences in this thriving region,” Bjørnar Heggernes, Commercial Director at The Mill Adventure, said.

Advertisement
Stake.com

The Mill Adventure platform, acclaimed for its operational efficiency and unique player engagement capabilities, merges sophisticated technology with inventive functionality — from SmartLobbies, its AI-powered casino management solution to Betpool, a feature designed to reimagine casino and sportsbook as social hubs. The platform features state-of-the-art tools, including a fully automated casino management system, in-house promotional tools, in-depth analytics, and robust security features for fraud and risk management, automated withdrawals, and Responsible Gaming — all designed to ensure relevance and excellence in a competitive market while being fully compliant.

Honored with the “Platform Innovation of the Year” title at SBC’s recent CasinoBeats Awards, the company continues to lead the way in ensuring seamless and secure gaming experiences and is poised to meet the high standards and expectations of Ontario’s operators and players.

In addition to Ontario, The Mill Adventure holds licenses in Germany, Sweden, Romania, and Malta, as well as platform certifications in the Netherlands, Portugal, and Georgia — regulatory recognitions that underscore the company’s reputation for exceptional compliance proficiency in the global iGaming industry.

Continue Reading

Canada

GiG signs iGaming platform agreement to expand Ontario market footprint

Published

on

GiG signs iGaming platform agreement to expand Ontario market footprint

 

Gaming Innovation Group (GiG) has announced the signing of a Head of Terms with Ventures Lab, for the provision of its award winning iGaming platform, and AI tools DataX and LogicX, marking the fourth partner for GiG in the Canadian province and supporting GiG’s global strategy for regulated market growth.

The agreement with Ventures Lab in Ontario will fully utilise the capability of the platform and the ability to support speed to market. GiG’s experience in Ontario and in global regulated markets, and as exclusive regulated markets provider for the brand, the deal includes scope to leverage the possibility to expand into a multi-jurisdictional partnership in the future.

GiG has focused its suite of pioneering solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, powering increases in both client retention and player engagement.

As part of the deal, Ventures Lab will benefit from the full power of dynamic AI tools DataX and LogicX. With a growing emphasis on cutting-edge artificial intelligence and automation, the incorporation of the advanced machine learning models into it’s toolkit, with enhancing decision-making processes and rule building will help deliver significant increases in player acquisition and customer retention.

Advertisement
Stake.com

With the reporting year starting April 1st, iGaming in Ontario has published that the 2023-24 year ended with online gaming revenue topping at €3.8 billion, an 88% increase over the previous year, representing the opportunity for significant growth throughout the province.

Andrew Cochrane, Chief Business Officer at GiG, commented, “GiG is continuing to attract experienced partners who trust in our ability as the technology partner to drive efficiency and profitability in their operations. This agreement further underpins our powerful strategy to capitalise on the overwhelming potential within our market leading solutions, forming strong new partnerships in core regulated markets, with the intention of reaching and exceeding our ambitious growth targets for the business.”

Carlos Strazzer, Chief Executive Officer at Ventures Lab added: “This collaboration will enable us to drive substantial growth and expansion leveraging GiGs vast experience in regulated markets and their leading technology. We’re very much looking forward to delivering an unparalleled betting experience for the Ontarian market and seizing the opportunities this region holds.”

Continue Reading

Canada

SUZOHAPP Becomes Sponsor of Canadian Gaming Summit

Published

on

 

SUZOHAPP has become a sponsor of this year’s Canadian Gaming Summit.

“We are thrilled to participate in and support the Canadian Gaming Summit, as Canada presents immense opportunities in the retail sector and the industry is rapidly expanding in this region. Ontario was the first territory to allow retail sports betting and our installation of sports betting terminals in premier locations such as Fallsview Casino Resort and Casino Niagara has set the stage for further expansion in that market,” Sim Bielak, President of SUZOHAPP, said.

Sim Bielak will be a speaker on one of the panels, sharing his industry insight on capturing the attention of the next generation of Canadian gamblers. The panel, titled “Next-Gen gamification: engaging Millennials and Gen Z”, is scheduled for Thursday 20 from 11.45 am – 12.30 pm.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.