Playtech has noted the “significant H1 23 revenue growth” of NorthStar Gaming, with whom it finalized a $12.3m strategic investment earlier this year to expand its partnership.
Publishing its own financial results for the six months ended 30 June, the online gaming software supplier opted to also spotlight its movements in newer markets such as Ontario, where it has witnessed “attractive economics”.
Total player value and CPA are showing improving trends, according to Playtech, which referenced North Star’s recent attempts to raise additional capital from the firm and other investors in a bid to accelerate the growth of its footprint across Canada.
Playtech also made an investment, initially by way of a convertible debenture in December 2022, which subsequently was converted into equity in H1 23.
Playtech CEO Mor Weizer made further comments on the Toronto-based firm during the company’s H1 earnings call, adding that NorthStar was one of its structured agreements and that Playtech was “excited to see how this grows” as the company accelerates its growth in Ontario and beyond.
These comments may ease any shareholder worries which arose from NorthStar’s Q2 earnings report, where the firm expressed uncertainty over its future due to a lack of funds after losing $4.8m in the quarter.
Aside from NorthStar, Playtech has further exposure to the Canadian market with more than 10 other operators, and launched with FanDuel for Casino and Live in Ontario.