NorthStar Gaming chair and CEO Michael Moskowitz believes the company expects to “realise operating leverage as revenue continues to climb faster than expenses,” following a Q4 2023 revenue jump of 103 per cent.
The figure rose from CA$3.2m in Q4 2022 to $6.5m in the latest reporting period.
Gross gaming revenue at NorthStar Bets, the company’s Canadian-facing sportsbook, was $7.6m in Q4, an increase of 85 per cent.
For the 2023 financial year, revenue jumped by 240 per cent to $19.4m, up from $5.7m in 2022.
NorthStar Bets' full-year GGR rose by 208 per cent to $22.5m.
Moskowitz said: “NorthStar is very well positioned to build on our momentum in 2024.
"We expect to grow the managed services business we acquired with the Slapshot Media transaction. Ongoing innovation in both our casino and sportsbook offerings, as well as enhancements to our unique content vertical, will help continue to deliver a compelling player experience.
“We will maintain our focus on operational excellence, prioritising customer service and retention as a core aspect of our premium positioning.”
He added: “NorthStar is a rapidly growing company in a relatively new sector with a lot of runway ahead. We have a differentiated offering and, as a locally-based company, a distinct familiarity with the Canadian market.
“We are small and nimble enough to introduce innovation to our platform, while at the same time having access to world-leading technology and services through our committed partners. Our business model is gaining traction and has the potential to deliver strong returns."
