NorthStar Gaming, Playtech renew marketing partnership

Playtech also providing $3M in short-term financing

NorthStar Gaming has announced that it has extended its strategic partnership with Playtech via a renewal of the pair’s existing marketing agreement.

The two companies originally signed a deal in June last year with the main focus on accelerating Toronto-based NorthStar’s player acquisition strategy in Ontario. NorthStar called Playtech’s initial funding of $4 million “a significant driver” of its growth in the province in 2023. Playtech will continue to provide similar marketing services in Ontario, valued at up to $4 million, until October 31, 2024.

NorthStar will compensate Playtech for its contribution through a share of the revenue generated in connection with the marketing initiatives it is helping to fund.

Separately, Playtech has also provided another $3 million worth of short-term financing, the proceeds of which NorthStar says will be used to fund the company’s continued growth as well as for general corporate purposes.

“We are very pleased to continue to strengthen our relationship with Playtech, one of the world’s leading gambling technology companies,” said Michael Moskowitz, Chair and CEO of NorthStar. “Their ongoing support has been instrumental in helping us to acquire new customers, provide a premium online gaming experience, and fund the expansion of our brand in Ontario and across Canada.”

Two parties strengthen union

The partnership between NoerthStar and Playtech has been credited as a factor in both companies’ successes in Ontario in recent months.

In September, UK-based software provider Playtech noted the “significant H1 23 revenue growth” of NorthStar Gaming, after finalizing a $12.3 million strategic investment earlier in 2023. year to expand its partnership. Playtech CEO Mor Weizer said at that time that the company was “excited to see how this grows” as NorthStar accelerates its growth in Ontario and beyond. Playtech’s partners in the Ontario market also include the likes of industry giant FanDuel.

Three months later, NorthStar, which owns and operates casino, sportsbook and media platform NorthStar Bets in Ontario, says it sees Playtech as a key partner.

“They were with us early on, and they’ve invested heavily in our business, love what we’re doing, and love the growth and expansion we’ve seen in the Canadian market,” Moskowitz said in a December earnings call.

More partnerships help NorthStar broaden horizons

NorthStar has also struck deals with other companies in recent months, such as a December agreement with BettorView, which works with bars and restaurants to provide customizable sports and sports betting advertisements within eateries.

Just last month, it teamed up with software provider Tallysight to provide dynamic betting content such as odds widgets and graphics for NorthStar‘s editorial sports and betting content in time for March Madness.

Northstar’s common shares have traded on the TSX Venture Exchange since March last year and it was approved to commence trading in the U.S. on the OTCQB Venture Market in March.

You might also like