NorthStar Gaming, the Canadian online casino and sports betting operator from Toronto, has announced its financial results for the third quarter of 2023 and the numbers show a significant increase in revenue for the company.
The Canadian company registered revenue of 4.7 million Canadian dollars in the third quarter, a figure which represents an increase of no less than 135 percent compared to the same quarter of last year.
The increase was driven by an expanding customer base, which in its turn was fueled by the company’s diversified offering. NorthStar Gaming also pointed out that its “Insights” editorial features, which give players advice on betting, also contributed to the positive financial results. The operator revealed that players who read the “Insights” ended up having 40 percent higher deposits compared to the other players.
The Canadian operator also benefited from its acquisition of Slapshot Media, which happened earlier this year. The acquired business specializes in delivering marketing and operational management services to sports betting and igaming operators and in the third quarter it managed to generate 200,000 dollars in revenue.
Moreover, NorthStar Gaming used the acquisition of Slapshot Media to back its expansion from Ontario to the other Canadian provinces. In fact, the company’s online gaming and sports betting website, NorthStarBets.com, is now being made available across all provinces and territories in Canada