NorthStar Gaming Holdings Inc. this morning announced triple-digit year-over-year increases in total wagers and revenue (net of bonuses, promotional costs and free bets) for the third quarter of 2023.
“As we enter the busiest time of the year with most of the major North American sports leagues now underway, we are well positioned to drive further improvements in our results,” said Michael Moskowitz, chair and CEO of NorthStar. “Our strengthened balance sheet, strategic partnerships, ongoing innovation in our product offering, and development of our brand across Canada all point toward solid growth for the rest of 2023 and into next year.”
More specifically, the Q3 results (ended Sept. 30) showed total wagers at Northstarbets.ca were CAD$138 million, an increase of 140 percent compared to $57.6 million in Q3 2022. Revenue was $4.7 million in Q3 2023, compared to $2 million in Q3 2022, an increase of 131 percent over the same quarter in the previous year.
The company last month announced that it was rolling out a NorthStarBets.com sports-betting and casino platform throughout Canada via Slapshot Media Inc., a Canadian igaming-marketing and managed-services company that manages Spreads.ca, owned and operated by the Abenaki Council of Wolinak.
NorthStar Gaming Holdings Inc. announced last May they had acquired Slapshot Media. NorthStar is a vendor to Spreads.ca.
The NorthStar Bets platform will be made available outside of Ontario under the umbrella of the First Nations license.
The company also previously announced that it was first to market with an artificial-intelligence feature that offers customers personalized sports bets based on their unique preferences.