NorthStar Gaming has entered into an agreement to acquire 100 per cent of Slapshot Media, a Canadian igaming marketing and managed services company.
Slapshot specialises in providing managed services to Spreads.ca, an igaming site owned and operated by the Abenaki Council of Wolinak.
The goal of this transaction is to ultimately open up the Canadian market to the NorthStar brand outside Ontario and materially expand the addressable market available to NorthStar via its relationship with Spreads.ca.
This acquisition is "highly complementary to NorthStar's current online casino and sportsbook offerings." The company said: "Spreads.ca is not and will not be made available in Ontario and NorthStar Bets will continue to be the only online casino and sports book offered by NorthStar in Ontario."
In February 2023, NorthStar and Playtech announced a partnership extension to include all of Canada with an aim to providing a cost effective, high margin model across new Canadian markets.
This partnership also positions NorthStar to capitalise on any regulated igaming markets in other provinces that arise in the future.
Under the terms of the agreement, NorthStar is to acquire 100 per cent of Slapshot's issued and outstanding shares for C$1.8m, payable in 3,272,727 common shares of NorthStar at a deemed value equal to $0.55 per share. The purchase price for the transaction is subject to customary, post-closing adjustments for working capital.
