NorthStar Gaming, the owner and operator of NorthStar Bets, revealed revenue growth and record wagering in their Q1 2023 results.
The company ended the quarter with CA$139.5m in total wagers and a gross gaming revenue of $4.4m, which was an increase of 24 per cent and eight per cent respectively against the previous quarter.
Gross margin was $1.2m, a 20 per cent increase against Q4, 2022.
The company also completed the acquisition of Slapshot Media on May 8, 2023, which provides managed services to Spreads.ca.
"Q1 was another consecutive quarter of growth and gross margin expansion for our business as our unique positioning at the centre of both iGaming and media has continued to pay dividends," said Michael Moskowitz, CEO and founding partner of NorthStar.
"We are strategically focussed on continuing to grow our player base in Ontario and beyond as we leverage our recent acquisition of Slapshot Media Inc. to introduce players outside of Ontario to NorthStar's brand."