- NorthStar Gaming Holdings (BET) has signed an agreement to acquire Slapshot Media Inc.
- The company stated that its goal is to open up the Canadian market to its brand outside Ontario, and materially expand the addressable market available via its relationship with Spreads.ca
- NorthStar will acquire 100 per cent of Slapshot’s issued and outstanding shares for C$1.8 million, payable in 3,272,727 common shares of NorthStar at a value of $0.55 per share
- NorthStar Gaming Holdings Inc. (BET) opened trading at $0.47 per share
NorthStar Gaming Holdings (BET) has signed an agreement to acquire Slapshot Media Inc.
Slapshot Media is a Canadian iGaming marketing and managed services company that provides managed services to Spreads.ca, an iGaming site.
The company stated that its goal is to open up the Canadian market to its brand outside Ontario, and materially expand the addressable market available via its relationship with Spreads.ca.
NorthStar will acquire 100 per cent of Slapshot’s issued and outstanding shares for C$1.8 million, payable in 3,272,727 common shares of NorthStar at a value of $0.55 per share. The purchase price for the transaction is subject to customary, post-closing adjustments for working capital.
The vendors of Slapshot will also be entitled to a separate earn-out of up to C$500,000 based on its revenue performance for the 12-month period following the closing.
“The acquisition of Slapshot expands our ability to enter new markets faster as we look to introduce NorthStar Bets to consumers across the country,” NorthStar’s Chief Executive Officer and founding partner, said. “We are hyper focused on growing the reach of NorthStar and this strategic acquisition and partnership further positions NorthStar for rapid growth into new markets within Canada.”
NorthStar Gaming Holdings Inc. (BET) owns and operates a casino and sportsbook gaming platform. 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 Gaming Holdings Inc. (BET) opened trading at $0.47 per share.
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