Playtech and NorthStar Bets have officially launched their online casino and sportsbook in Ontario’s newly regulated online gambling market. With this partnership, Playtech will provide NorthStar with its live casino and casino services, as well as its IMS platform.
Playtech and NorthStar Entered an Agreement Earlier This Year
Playtech shared an official announcement that it entered a strategic partnership with NorthStar Gaming on January 22. Both companies agreed to launch NorthStar Bets to the Canadian audience. Back then, the CEO of Playtech, Mor Weizer, stated that Playtech is delighted to be NorthStar Gaming’s partner as it readies its launch in Ontario.
He also added that Playtech is dedicated to providing players with an “engaging entertainment experience,” one that also benefits its shareholders.
Commenting on the latest developments in Ontario, Michael Moskowitz, the COO of NorthStar, stated that NorthStar Bets puts consumers in the center and noted that the company’s partnership with Playtech means that it can also offer the “highest level of player protection.”
Moskowitz ended by saying that consumers are always looking for content that can meet their individual preferences and thanks to the partnership that NorthStar has with Playtech, it is able to live up to the expectations and “become a leader in the Canadian iGaming market.”
Playtech’s COO, Shimon Akad, stated that the official launch of NorthStar in Ontario is yet another key milestone for Playtech, who’s looking to develop its strategy in North America. This region was also crucial in Playtech’s success in 2021.
Playtech May Be Acquired by TTB Partners
Apart from the success that Playtech had in 2021, the company’s Q1 2022 results were strong and they had a massive growth in EBITDA. Adjusted EBITDA was $105 million, which is close to the $130 million EBITDA that it had in the first 6 months of 2021.
One of the main reasons why Playtech had such massive success is its successful B2B and B2C business operations. Apart from entering the Canadian market with NorthStar, Playtech set its footprint in Mexico with Caliente. Caliente and Playtech launched Caliplay, which proved to be a massive source of income for the company.
Now, Playtech is in advanced talks with TTB Partners, and Weizer has given his support to TTB Partners, who are looking to acquire Playtech. Weizer stated that the negotiations are positive, however, it remains uncertain as to whether the takeover will be completed. An offer is yet to be made and the terms are yet to be discussed.
Apart from the fact that both TTB and Playtech confirmed that the talks are going in a positive direction, there’s no further information as the parties want to keep things behind closed doors.