NorthStar Gaming acquires Slapshot Media
NorthStar is to acquire 100 per cent of Slapshot’s issued and outstanding shares.
Canada.- The Ontario-based online casino and sportsbook operator NorthStar Gaming (NSG) has acquired Slapshot Media. The Canadian sports betting marketing company provides managed services to igaming site Spreads.ca.
This acquisition is complementary to NorthStar’s current online casino and sportsbook offerings. Spreads.ca is not and will not be made available in Ontario and NorthStar Bets will continue to be the only online casino and sports book offered by NorthStar in the Canadian province.
NorthStar will acquire 100 per cent of Slapshot’s issued and outstanding shares for C$1.8m, payable in 3,272,727 common NorthStar shares at a deemed value equal to $0.55 per share. The purchase price for the transaction is subject to customary, post-closing adjustments for working capital.
Michael Moskowitz, chief executive officer and founding partner of NorthStar, said: “The acquisition of Slapshot expands our ability to enter new markets faster as we look to introduce NorthStar Bets to consumers across the country. 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.”
NSG has previously announced that gaming tech supplier Playtech will invest C$12.2m (US$9.1m) and serve as a strategic investor and advisor to the operator. The investment will be made in the form of a convertible debenture, which will be converted into equity and warrants in relation to NorthStar’s proposed reverse takeover of Baden Resources Inc.
