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.

Advertisement

Playson, the established digital entertainment supplier, has secured its latest partnership in Canada after launching its games portfolio with rising iGaming operator Titanplay.

After obtaining its Ontario licence and going live in June earlier last year, Titanplay has made impressive strides in a short space of time with its online casino offering resonating with players across the province.

The agreement sees Playson support Titanplay’s ongoing expansion across Ontario with the supplier’s industry-renowned Hold and Win portfolio now available on the operator’s website, integrated via Relax Gaming’s aggregation platform.

Titles including Coin Strike: Hold and Win, Diamonds Power: Hold and Win and Pink Joker: Hold and Win will enable players to enjoy a feature-led, captivating gameplay experience and expand Titanplay’s rapidly expanding portfolio.

Advertisement

Playson’s latest tie-up underlines its intent of further establishing its brand within Ontario after successfully entering the Canadian province back in 2022. The provider’s industry-renowned portfolio continues to drive long-term value for operators worldwide.

Blanka Homor, Sales Director at Playson, said: “We are proud of the footprint we have established in Ontario with local players truly appreciating the Playson experience. Partnering with an exciting name in the region like Titanplay allows us to accelerate our progress and bring our premium offering to an increased pool of players.

“We look forward to gauging the response from Titanplay enthusiasts and watching this partnership grow from strength to strength.”

Titanplay management commented: “At Titanplay, we pride ourselves with working with industry-renowned names and partnering with Playson seamlessly fits into our plans of becoming a household name in Ontario and across Canada.

“Our portfolio will undoubtedly be elevated by Playson’s Hold and Win collection, offering players a dynamic offering of feature-filled, graphically advanced titles.”

Advertisement