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Canada – Playtech makes strategic investment into NorthStar Gaming

By - 14 February 2023

NorthStar Gaming has completed a strategic investment by Playtech with Playtech investing C$12.25m into NSG by way of a Convertible Debenture.

The investment completes the concurrent financing in connection with the company’s reverse take over of Baden Resources.

In connection with the Playtech investment, the company has entered into a comprehensive amendment to its Software and Services Agreement with Playtech. The Amendment significantly expands the partnership between NorthStar and Playtech, and includes a 10-year extension to the agreement, the right to expand the agreement across the entire Canadian marketplace, and changes to certain commercial terms.

Further, Playtech will provide strategic advice to the Ontario-based online casino and sportsbook operator, notably online operations, managed services and market expansion. Playtech has offices in 20 countries around the globe and currently provides NorthStar with a suite of technology solutions, including Playtech’s IMS Platform, Casino and Live Casino software that power the NorthStar Bets platform.

“Playtech’s unparalleled expertise in the gaming industry will help NorthStar accelerate our growth and rapidly expand our user base,” said Michael Moskowitz, Chief Executive Officer and a founding partner, NorthStar Gaming. “With the additional investment, we look forward to expanding our market share across Ontario and further enhancing our premium, content-driven experience for consumers.”

Capital raised from Playtech’s investment and the expanded partnership with Playtech will support growth of NorthStar’s footprint across Ontario and future Canadian markets. The capital will allow NorthStar to invest in new technological innovations for the NorthStar Bets gaming platform while also reaching new audiences through marketing campaigns.

“We are excited to deepen our partnership with NorthStar and become the market-leading online gaming platform in Canada,” said Mor Weizer, Chief Executive Officer, Playtech. “As a key partner of NorthStar in their early stages, we understand and were impressed by NorthStar’s unique business model and product offering and are excited to further expand our partnership.”

As part of the agreement, Chris McGinnis, Playtech’s CFO, will join the Board of Directors of NorthStar as a Non-Executive Director, acting as Playtech’s representative.

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