Playtech Strengthens Alliance with NorthStar Gaming

Agreement Details

The decision is preceded by a C$12.25m outlay that the Canada-based distributor obtained earlier. It is intended to help the fast development and extension of the firm.

Initially, Playtech will invest C$1.5m. The amount could expand to C$4m. It is made to help the organisation's acquisition strategy through the rest of 2023 and the beginning of 2024.

Due to this upgrade of the enterprise's financial capabilities, it is expected to speed up the provider's user acquisition processes at the end of the year. NorthStar is hoping to gain profit through sports renewals.

Playtech will be reimbursed through a share of the revenue from the income gained by the initiatives it has contributed to.

Previous Collaboration History

Playtech made a C$12.25m outlay on NorthStar Gaming and extended their commercial arrangement in February. They completed a reverse takeover with Baden Resources shortly after, assuming ownership of about 16% of common shares and holding warrants to increase their stake.

The investment would be used for:

• technical innovations;
• marketing course.

Playtech expanded the alliance with NorthStar for 10 years, providing new software solutions and operational advice.

Michael Moskowitz stated on behalf of NorthStar that the cooperation is mutually beneficial for both companies and will promptly contribute to their development and expansion.