- NorthStar Gaming Holdings (TSXV:BET) has released its preliminary financial results for Q4 and the full year of 2024, showing growth across key metrics
- Total wagers at Northstarbets.ca are expected to be approximately C$303 million for Q4, a 42 per cent increase from C$213.3 million in Q4 2023, while total wagers for the full year are expected to be approximately C$980 million, a 51 per cent increase from C$648.8 million in FY 2023
- Gross gaming revenue is expected to be around C$10 million for Q4, up 31.6 per cent from C$7.6 million in the same period last year, while gross gaming revenue is projected to be around C$34 million, a 51 per cent increase from C$22.5 million in the previous year
- NorthStar Gaming Holdings stock (TSXV:BET) last traded at $0.065
NorthStar Gaming Holdings Inc. (TSXV:BET) has released its preliminary financial results for Q4 and the full year of 2024, showing growth across key metrics.
“We capped off a great year with the best quarter in the company’s history,” NorthStar’s Chair and CEO, Michael Moskowitz, said in a news release. “Much of our focus in 2024 was on product innovation and simplifying the customer experience, and we are seeing the results through the growth of our business. Record gross margins demonstrate the ability of our model to deliver operating leverage as the business scales.”
Preliminary Q4 2024 results
- Total wagers at Northstarbets.ca are expected to be approximately C$303 million, a 42 per cent increase from C$213.3 million in Q4 2023.
- Gross gaming revenue is expected to be around C$10 million, up 31.6 per cent from C$7.6 million in the same period last year.
- Revenue is projected to be approximately C$9.6 million, a 47.6 per cent increase from C$6.5 million in Q4 2023. This includes C$1.6 million of managed services revenue, compared to C$0.2 million in Q4 2023.
- Gross margin is expected to be about C$4.4 million, representing a 76 per cent increase from C$2.5 million in Q4 2023. The Gross Margin percentage is anticipated to rise to approximately 46 per cent, up from 39 per cent in the previous year.
Preliminary results for FY 2024
- Total wagers at Northstarbets.ca are expected to be approximately C$980 million, a 51 per cent increase from C$648.8 million in FY 2023.
- Gross gaming revenue is projected to be around C$34 million, a 51 per cent increase from C$22.5 million in the previous year.
- Revenue is expected to be approximately C$29.7 million, marking a 53.1 per cent increase from C$19.4 million in FY 2023.
- Gross margin is anticipated to be about C$12.5 million, a 76 per cent increase from C$7.1 million in FY 2023, with the gross margin percentage expected to rise to 42 per cent, up from 36 per cent in the previous year.
Debt financing
On January 27th, 2025, NorthStar Gaming Holdings announced that it had signed a credit agreement for a senior secured first lien term loan facility, providing loans up to C$43.4 million CAD (approximately C$30 million USD). This Credit Agreement is expected to strengthen the company’s balance sheet and accelerate its growth initiatives.
About Northstar Gaming
NorthStar Gaming Holdings Inc. owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience.
NorthStar Gaming Holdings stock (TSXV:BET) last traded at $0.065 and has risen more than 133 per cent in the past three months.
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(Top image via NorthStar Gaming Holdings Inc.)