Northstar Gaming Holdings Signs Agreement To Acquire 100% Of Slapshot Media Stock.
Slapshot Media is an iGaming Marketing and Management Services Company responsible for serving the iGaming site Spreads.ca , owned by the council of wollinak tribe abenaki.
Spreadsca remains unavailable in Ontario after the acquisition, but Northstar Gaming hopes to expand its brand to the rest of Canada via its website.
In addition to the deal, Northstar is expected to continue offering Northstar betting sportsbooks and online casinos to the Ontario market.
Michael Moskowitz, CEO and founding partner of Northstar, said, “The acquisition of Splashot expands our ability to enter new markets faster because we expect to introduce Northstar betting to consumers across the country.
“We are very focused on expanding Northstar’s reach and these strategic acquisitions and partnerships are further positioning Northstar to enable it to grow rapidly into a new market in Canada.”
TOTAL TRANSACTION IS EXPECTED TO BE C$1.8 MILLION ($1.3 MILLION) AND WILL BE PAID AT 3,272,727 SHARES OF COMMON STOCK OF THE COMPANY WORTH $0.55 PER SHARE.
In addition, the Slapshot supplier may benefit from the performance of Slapshot after the close of the deal, which is currently estimated at C$500,000.
Northstar is expected to close the deal before May 5, 2023, and the competition is subject to additional closing conditions.
The announcement comes just months after Playtech invested C$12.25 million in North Star Gaming to help the company grow in the Canadian market.