Toronto, Ontario–(Newsfile Corp. – May 8, 2023) – NorthStar Gaming Holdings Inc. (TSXV: BET) (the “Company” or “NorthStar“) is pleased to announce it has closed its previously announced acquisition (the “Transaction“) of Slapshot Media Inc., a Canadian iGaming marketing and managed services company that specializes in providing managed services to Spreads.ca, an iGaming site owned and operated by the Abenaki Council of Wolinak. The goal of this strategic Transaction is to ultimately open up the Canadian market to the NorthStar brand outside Ontario, and materially expand the addressable market available to NorthStar via its relationship with Spreads.ca.
This strategic acquisition is highly complementary to NorthStar’s current online casino and sportsbook offerings. Spreads.ca is not and will not be made available in Ontario and NorthStar Bets will continue to be the only online casino and sports book offered by NorthStar in Ontario.
For more information on NorthStar Gaming and its current partners, please visit www.northstargaming.ca.
About NorthStar
NorthStar proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games.
A Canadian company, NorthStar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. NorthStar is committed to operating at the highest level of responsible gaming standards.
NorthStar Bets is regulated by the Alcohol and Gaming Commission of Ontario and operates in Ontario pursuant to an operating agreement with iGaming Ontario.
NEITHER TSX VENTURE EXCHANGE (“TSXV”) NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Information
This communication contains “forward-looking information” within the meaning of applicable securities laws in Canada. Forward-looking information may relate to future events or future performance of NorthStar. Forward-looking statements include those relating to NorthStar’s expansion to Canadian markets outside of Ontario. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: NorthStar’s future results and information, including, among other things, its future operations; regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the online gaming industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming industry; the success of online casino and online sports betting products is not guaranteed; changes in public perception of the online gaming industry; failure to retain or add customers; NorthStar having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; continuation of prudent management of working capital; source of funds for ongoing business requirements and capital investments; expectations regarding sufficiency of the allowance for uncollectible accounts; analysis regarding sensitivity of the business to changes in exchange rates; impact of recently adopted accounting pronouncements; risk factors relating to intellectual property protection and intellectual property litigation; and expectations concerning any remediation efforts to NorthStar’s design of its internal controls over financial reporting and disclosure controls and procedures. NorthStar believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this discussion and analysis should not be unduly relied upon. Information contained in forward-looking statements in this communication is provided as of the date hereof and NorthStar disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws.
For further information:
NorthStar Gaming
Ben Powell
VP Corporate Development
Ben.powell@northstargaming.ca
1 (647) 532 3948