- NorthStar Gaming Holdings (TSXV:BET) has reached an agreement with Playtech plc worth C$10 million
- Playtech, which is an existing investor of the company, will buy securities of NorthStar Gaming as part of the deal
- Funds will be used by NorthStar Gaming to expand into the rest of Canada
- Shares of NorthStar Gaming are up 3.45 per cent to C$0.15 as of 10:33 am ET
NorthStar Gaming Holdings (TSXV:BET) has officially reached its subscription agreement with Playtech plc worth C$10 million.
In a news release, the Toronto-based company said that Playtech – which is an existing investor of NorthStar Gaming – will purchase securities of the company as part of the deal.
In total, roughly 28.5 million units at $0.175 will be issued as part of the agreement.
NorthStar Gaming said it will use the funds from the deal to further expand into the rest of Canada following its acquisition of Slapshot Media. The company will also use proceeds for general working capital purposes.
The financing is expected to be completed by the end of October.
NorthStar Gaming proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games. NorthStar also provides managed services to Spreads.ca an iGaming site owned and operated by the Abenaki Council of Wolinak.
Shares of NorthStar Gaming are up 3.45 per cent to C$0.15 as of 10:33 am ET.
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