NorthStar Gaming Thrives as a Niche Player in Canada
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NorthStar Gaming is capitalizing on its niche position in Canada, reporting record growth in wagers and revenue. CEO Michael Moskowitz highlighted the company’s focus on the 20% of the market not dominated by international giants, worth approximately $1.3 billion. With plans to expand into Alberta’s $1 billion market by late 2025, NorthStar is seeking additional funding to fuel its growth.
The company’s Ontario-facing Northstarbets.ca platform saw a 69% YOY increase in wagers last quarter, totaling $234 million, with revenue up 45% to $6.8 million. Gross margin growth has fully covered overheads, marking progress toward profitability. Recent developments, including Playtech funding and the launch of Sports Insights 2.0, have driven higher deposits and turnover.
NorthStar has also doubled its casino game selection this year, enhancing its appeal as a local brand. While the company remains at a net loss, it has significantly reduced its deficit, positioning itself strongly in the evolving Canadian gaming landscape.