NorthStar Gaming Holdings said wagers at Northstarbets.ca reached CA$234 million in Q3 2024, up 69% year on year. Revenue rose 45% to CA$6.8 million, while gross margin increased 63% to CA$2.7 million. The company said it was working to secure additional financing to support its growth strategy.
Investors can weigh NorthStar’s wager, revenue and margin growth against its need for additional financing.
The day’s most important stories, free. One email a day.
AGCO agreed an $80,000 monetary settlement with NorthStar Gaming in Ontario. The regulator alleged that the operator allowed a high-risk player to continue gambling despite apparent money laundering risks.
NorthStar Gaming appointed Corey Goodman as permanent chief executive on 18 August, after he served in the role on an interim basis for eight months, the company said. Ben Powell became interim chief financial officer after Chin Dhushenthen resigned on 17 August; Dhushenthen will advise the company while it completes outstanding audits. NorthStar also appointed Krisztina Kalla vice president of compliance.
Ontario’s securities commission issued a failure-to-file cease trade order against NorthStar Gaming Holdings after it failed to submit its audited 2025 annual financial statements. The company said its auditor withdrew an earlier audit report and that its annual meeting, scheduled for 25 May 2026, had been postponed. The order may be automatically subject to revocation if the filings are made within 90 days; NorthStar Bets continues operating, the report said.
Ontario's Securities Commission issued NorthStar Gaming a failure-to-file cease trade order, preventing trading in its securities in Canada. The company had not filed audited statements for the year ended 31 December 2025 after its auditor withdrew a report covering 2024; the order remains in force until the required filings are submitted.
NorthStar Gaming said it plans to cut general and administrative expenses by about CA$3 million this year, with most of the measures already implemented. Management is also pursuing efficiencies in advertising, vendors and services, while the revised expense run rate is expected to be fully reflected from 2027.