Canada
NorthStar Gaming Reports First Quarter 2024 Results
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.
Supplier content is already live on BetMGM in Ontario, with Party Casino & Sports Interaction lined up ahead of Alberta’s July iGaming opening.
Gaming Corps has expanded its partnership with Entain, extending distribution of its casino content across more Entain brands and markets, with Canada positioned as a key near-term focus.
The supplier went live with Entain’s joint venture BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Gaming Corps and Entain are also preparing for Alberta’s regulated iGaming market opening in July, with Gaming Corps content “ready to go live from day one with BetMGM” and Party Casino & Sports Interaction to follow.
Outside Canada, Gaming Corps said it completed a full content launch in Brazil with Sportingbet and Betboo in May, and launched 3 Pigs of Olympus exclusively across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June. The company also said additional launches are being prepared for Portugal, Spain and New Zealand.
The latest phase includes football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, alongside the supplier’s 3 Pigs IP. Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.
“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.
“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”
Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”
The post Gaming Corps expands Entain deal with Ontario live and Alberta launch planned appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Gaming Corps, a publicly listed game development company based in Sweden, has expanded its partnership with Entain, one of the world’s largest sports betting and gaming groups, marking the latest phase of a relationship that began with the companies’ original partnership agreement in 2022 and now spans multiple Entain brands.
Canada is a major focus for the extended partnership. Gaming Corps went live with Entain’s Joint Venture, BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Both are now preparing for the opening of Alberta’s regulated iGaming market in July, with the studio’s content ready to go live from day one with BetMGM and Party Casino & Sports Interaction following shortly after.
The partnership has also continued to grow internationally, with Gaming Corps completing a full content launch in Brazil with Sportingbet and Betboo in May of this year, followed by the exclusive launch of 3 Pigs of Olympus across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June.
Additional market launches in Portugal, Spain and New Zealand are also being prepared.
The latest phase includes a mix of Gaming Corps’ most recognisable content, from football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, to the studio’s high-performing 3 Pigs IP.
Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.
“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.
“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”
Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”
The post Gaming Corps expands Entain partnership with major Canadian rollout appeared first on Americas iGaming & Sports Betting News.
Gaming Corps, a publicly listed game development company based in Sweden, has expanded its partnership with Entain, one of the world’s largest sports betting and gaming groups, marking the latest phase of a relationship that began with the companies’ original partnership agreement in 2022 and now spans multiple Entain brands.
Canada is a major focus for the extended partnership. Gaming Corps went live with Entain’s Joint Venture, BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Both are now preparing for the opening of Alberta’s regulated iGaming market in July, with the studio’s content ready to go live from day one with BetMGM and Party Casino & Sports Interaction following shortly after.
The partnership has also continued to grow internationally, with Gaming Corps completing a full content launch in Brazil with Sportingbet and Betboo in May of this year, followed by the exclusive launch of 3 Pigs of Olympus across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June.
Additional market launches in Portugal, Spain and New Zealand are also being prepared.
The latest phase includes a mix of Gaming Corps’ most recognisable content, from football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, to the studio’s high-performing 3 Pigs IP.
Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.
“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.
“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”
Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”
The post Gaming Corps expands Entain partnership with major Canadian rollout appeared first on Americas iGaming & Sports Betting News.
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