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NorthStar Gaming Announces $43.4 Million Long-Term Debt Financing

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NorthStar Gaming Holdings Inc. announced that the company has, subject to final approval of the TSX Venture Exchange, entered into a credit agreement (the “Credit Agreement”) in respect of a senior secured first lien term loan facility providing for loans in an aggregate principal amount of up to $43.4 million CAD (being the approximate equivalent of $30,000,000 USD) (the “Credit Facility”) to be made available by Beach Point Capital Management LP (“Beach Point”). Playtech plc (“Playtech”) and certain Playtech subsidiaries have agreed to provide credit support for certain obligations under the Credit Facility. The Credit Facility represents a significant milestone for NorthStar, strengthening its balance sheet and enabling the Company to continue to accelerate its growth initiatives.

“This is a pivotal moment for NorthStar, marking the largest financing in our history. This Credit Facility strengthens our balance sheet and directly supports our ability to scale operations and drive the business towards profitability with a single-minded focus. We are grateful to Beach Point Capital Management for their trust in our strategy and vision. We are also thankful for Playtech’s steadfast partnership which was instrumental in securing this funding, reinforcing their value both strategically and as a technology provider,” said Michael Moskowitz, Chair and CEO of NorthStar.

“Beach Point has deep experience investing across the gaming sector and is excited to partner with NorthStar to support their strategic initiatives. The online gaming sector has been growing rapidly, and this investment reflects our confidence in the Company’s leadership, market potential, and ability to deliver long-term sustainable growth. Likewise, we value the partnership with Playtech, who are contributing their leading technology, global reach, and strategic vision towards NorthStar’s continued success,” said Gabriel Fineberg, Managing Director at Beach Point.

The purpose of the Credit Facility is to support NorthStar’s continued growth by significantly strengthening the Company’s balance sheet. The Company will use the proceeds of loans made pursuant to the Credit Facility: (i) to repay the aggregate $9.5 million CAD principal amount (plus accrued interest) loaned to the Company by Playtech pursuant to unsecured, interest-bearing promissory notes dated April 25, 2024, September 13, 2024 and December 16, 2024; (ii) to fund an interest reserve account in respect of the Credit Facility in an amount equal to $7,000,000 CAD; (iii) for working capital and general corporate purposes; and (iv) to pay transaction costs in connection with the Credit Facility.

The post NorthStar Gaming Announces $43.4 Million Long-Term Debt Financing appeared first on Gaming and Gambling Industry in the Americas.

Acquisitions/Merger

Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey

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Great Canadian Entertainment and the SE-MI-AH-MU Development Corporation, the economic development arm of Semiahmoo First Nation (SE-MI-AH-MU) announced that they have entered into a definitive agreement for the purchase by SE-MI-AH-MU from Great Canadian of Elements Casino Surrey.

Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to financial commitments, customary closing conditions as well as customary approvals by the regulatory authorities and the City of Surrey, which owns the underlying real property at Elements Casino Surrey. Under the terms of the definitive agreement, the Company will provide transition services to SE-MI-AH-MU for up to one year post-closing.

“Today’s announcement marks the eighth agreement we have executed with B.C.-based First Nations for the sale of our B.C. operations. We are thrilled that the Semiahmoo First Nation is eager to enter the province’s casino sector with the purchase of Elements Casino Surrey. Our next step will be to continue to work with the SE-MI-AH-MU team to timely close this transaction and then work with SE-MI-AH-MU and the Elements Casino Surrey team members for long term success,” said Matt Anfinson, Chief Executive Officer of Great Canadian.

“This acquisition represents an important step forward in strengthening economic opportunity for Semiahmoo First Nation and reaffirming our presence within our traditional territory as a strong and capable business entity. Through this new venture, we look forward to creating meaningful benefits for our people, supporting employment opportunities in the region, and contributing to the long-term well-being and prosperity of our community,” said Chief Harley Chappell of Semiahmoo First Nation.

McMillan is serving as legal counsel to Great Canadian and Munnings Law is serving as legal counsel to SE-MI-AH-MU.

The post Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey appeared first on Americas iGaming & Sports Betting News.

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Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market

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Wazdan, the top developer focused on gaming, has initiated its collaboration with Green Brick Labs (GBL) following the launch of several of its titles with Maverick Games, the well-known operator based in Ontario.

The agreement entails an initial selection of Wazdan’s best-performing titles being launched with Maverick Games through an integration from GBL’s seamless aggregation platform, featuring Mighty Fish™: Blue Marlin, 36 Coins™, Mighty Wild™: Panther Grand Diamond Edition, and Mighty Wild™: Gorilla.

After Wazdan’s recently disclosed alliance with GBL, the quickly developing North American platform provider, the partnership has now made significant progress by launching with Maverick Games, featuring its extensive slot collection and sportsbook services.

Wazdan’s captivating games and interaction-enhancing features, such as Cash to Infinity™, Sticky to Infinity™, and the Hold the Jackpot™ bonus game, are poised to enhance Maverick Games’ collection as it aims for greater growth across North America.

Wazdan’s newest collaboration highlights the studio’s goal to further establish itself in regulated iGaming markets globally, offering players cutting-edge slot experiences.

Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.

“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”

James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.

“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”

The post Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach

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Wazdan, the leading-gain focused developer, has launched its partnership with Green Brick Labs (GBL) after taking a series of its titles live with Maverick Games, the established Ontario-based operator.

The deal will see an initial pool of Wazdan’s top-performing releases launch with Maverick Games via an integration from GBL’s seamless aggregation platform, including Mighty Fish™: Blue Marlin, 36 Coins™, Mighty Wild™: Panther Grand Diamond Edition and Mighty Wild™: Gorilla.

Following Wazdan’s recently announced partnership with GBL, the rapidly emerging North American platform provider, the collaboration has now taken its first major steps after going live with Maverick Games with its comprehensive slot portfolio and sportsbook offering.

Wazdan’s immersive titles and engagement-boosting mechanics, featuring the likes of Cash to Infinity™, Sticky to Infinity™ and the Hold the Jackpot™ bonus game, are set to further elevate Maverick Games’ portfolio as it seeks increased expansion throughout North America.

Wazdan’s latest partnership underlines the studio’s ambitions of continuing to gain ground in regulated iGaming territories worldwide, providing players with state-of-the-art slot experiences.

Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.

“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”

James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.

“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”

The post Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach appeared first on Americas iGaming & Sports Betting News.

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