NorthStar Gaming to Acquire Slapshot Media, Expand Brand

NorthStar Gaming Holdings Inc., a prominent player in the iGaming industry, has announced its plans to acquire 100% of the issued and outstanding shares of Slapshot Media Inc. (“Slapshot”), a Canadian iGaming marketing and managed services company. The strategic transaction aims to extend the NorthStar brand’s presence beyond Ontario, significantly enlarging its addressable market through its relationship with, an iGaming site owned and operated by the Abenaki Council of Wolinak.

The acquisition complements NorthStar’s existing online casino and sportsbook offerings. It should be noted that will not be available in Ontario, and NorthStar Bets will remain the sole online casino and sportsbook offered by NorthStar in the province.

In February 2023, NorthStar announced an extended partnership with Playtech plc, covering all of Canada and focusing on delivering a cost-effective, high-margin model across new Canadian markets. This collaboration also positions NorthStar to capitalize on any regulated iGaming markets emerging in other provinces.

According to the definitive agreement, NorthStar will acquire 100% of Slapshot’s issued and outstanding shares for C$1.8M, payable in 3,272,727 common shares of NorthStar at a deemed value of $0.55 per share. The transaction’s purchase price is subject to standard post-closing adjustments for working capital.

Additionally, Slapshot vendors are eligible for a separate earn-out of up to C$500,000 based on Slapshot’s revenue performance for the 12-month period following the closing. This amount is payable quarterly in NorthStar common shares at a deemed value per share equal to the greater of (i) a 20-day volume-weighted average price calculated at the end of each quarter, or (ii) $0.45 per share.

“The acquisition of Slapshot expands our ability to enter new markets faster as we look to introduce NorthStar Bets to consumers across the country,” said Michael Moskowitz, Chief Executive Officer and founding partner, NorthStar. “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.”

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