Game technology can play a bigger role in global innovation -- Voices from the "2022 International Gametech Webinar"

 
 

- Game technology has become an important concept in the digital economy. From Microsoft's announcement of its intent to acquire video game giant Blizzard in January 2022 to the recent resolution on esports and video games adopted by the European Parliament on 10 November 2022 it is clear that the economic, cultural and technological value of games is being recognized in an increasing number of countries.

 

Being at the intersection of culture and technology, game technology has the potential to bring new opportunities to various industries and influence the global innovation landscape. On December 16 , the "2022 International Gametech webinar" co-hosted by ChinaEU and the UNESCO International Council for Philosophy and Human Sciences Chair Office brought together international experts and scholars to exchange their in-depth views on how gametech brings about innovations across different sectors.

 

  Games are not just entertainment, but also about technology  

 

Game technology has long been overlooked because the inherent entertainment value of games has overshadowed their underlying scientific and technological significance. In fact, game technology is a collection of functional technologies that were first implemented at a large scale in video games, with the goal of enriching and enhancing the experience of human interaction. Featuring high levels of interactivity, simulation, immersion, and advanced rendering, game technology has been increasingly utilized in a variety of fields such as digital preservation of cultural heritage, industrial simulation, smart cities, and intelligent manufacturing. Game technology is therefore gradually gaining recognition as a powerful tool to promote the integration of the digital space and the real world.

 

"The spillover effect of video games on cutting-edge technological progress is far beyond our imagination. Game technology is a 'natural incubator' for many emerging technological innovations." Luigi Gambardella , President of ChinaEU, described how video games have promoted the development of AR/VR technology and the application of artificial intelligence technology.

 

"The rise of gametech is an economic phenomenon, and it is also a trend driven by cultural and technological factors that cannot be ignored. The global academic community must realize that games and game technology are very important interdisciplinary topics," said Hsiung Ping-Chen , Secretary-General of the International Council for Philosophy and Human Sciences (CIPSH).

 

The game industry has a history of being at the forefront of adopting new technologies.  KooPee Hiltunen, Director of Neogames Finland Association-Finnish National Center of Game Business, Research and Education, and Founder and Board Member of the European Games Developer Federation (EGDF) noted that the game industry has always been among the first ones to apply these advanced emerging technologies. The game industry plays a key role in the popularization of such technology. It uses technology to create meaningful content and therefore becomes one of the most advanced presentations in the field of human-computer or human-device interaction. In the future, the game industry will continue to be a leader in introducing new technologies to the general public in a way that is easily understood and accessible.

 

LIU Feng, a Researcher at the Research Center on Fictitious Economy & Data Science of China Academy of Sciences, believes that there has been a close relationship between gametech and artificial intelligence from their inception, and gametech also has a strong traction effect on the development of artificial intelligence. Applications of gametech in biology, cultural relics protection, and autonomous driving are leading the way in the exploration of artificial intelligence.

 

  Gametech can break down boundaries and create more possibilities for cross-sector cooperation  

 

The European Parliament pointed out that the total value of the European game industry is as high as 23.3 billion euros in 2021. There are nearly 5,000 game studios in the EU, creating at least 98,000 jobs in 2020. Games have become an important part of cultural life for approximately half of European citizens. In addition, gametech has made significant contributions to the advancement of various industries. According to the report "Game Technology-New Technology Clusters in the Process of Digital and Real Economy Integration" released by the China Academy of Sciences in July 2022 , game technology has approximately contributed 14.9%, 46.3%, and 71.6% to the technological advancement of the chip industry, high-speed communication network industry, and the AR/VR industry in China , respectively.

 

"We live in a global world which is getting smaller and closer. One of the best ways to create global communities is through digital media. A very important type of digital media is video games, many of which are played around the world. This is sometimes what I call the most potent marketing tool. In the future, it is our goal to enable technology to reach consumers in a more meaningful way." KooPee Hiltunen said.

 

  In fact, there are many opportunities for symbiosis between different industries and different technologies. Gianfranco Ciccarella , Senior Advisor on Communication Networks and Services, believes that "to enable these opportunities it is necessary to break through the services performance limitations we still have over the Internet. Very High Capacity Networks (VHCN) able to provide services not yet available, such as 360 degrees augmented reality, are needed to support game technology and global innovation. VHCN require significant changes in the Telcos networks and one of the most important changes, to provide services performance improvement and network cost savings, is the deployment of Edge Cloud Computing platforms in the access networks".  

 

"The video game industry has a positive spillover effect on the semiconductor and telecommunications industries. 5G networks and IoT infrastructure are very important basic conditions for the video game industry, including economic development." LUO Rong, Professor of the School of Economics at the Renmin University of China , believes.

 

There are many technologies enabling the development of video games, with AI being one of the most prominent. The cross-field application of gametech is critical for the integration of digital and real economies. ZHAO Xiaolei, Director of Investment and Technology Promotion Shanghai Office at the United Nations Industrial Development Organization, believes that "digital factories are a new way of organizing production. Digital-twin technology can be used to apply game engines and other technologies to program simulation, evaluation, and optimization of the entire product life cycle, which can be applied to the deep convergence of physical and cloud-based data pools, smart factories, and digitally integrated production facilities."

 

Gametech has many versatile applications, including in the fields of medicine and psychotherapy. Marco Accordi Rickards , Executive Director and Founder of Vigamus Foundation, Board Member of the European Federation of Video Game Archives, Museums and Preservation Projects (EFGAMP), elaborated on how games can help in an important and pragmatic way in our lives. For example, some research uses VR technology to reproduce some situations that can help people overcome some traumatic experiences that they suffered.

 

The team of Marco Accordi Rickards recently developed a game called 'Behind the Light', which allows everyone to understand the importance of restoring, repairing, and preserving classic ancient Italian movies, so that young people can develop an interest in the old black and white silent movies, and at the same time let everyone know about these important figures in Italian film history. His team is also using gametech to preserve cultural heritage, and is working with scientists to advance scientific research.

 

The Esports industry is a very important pillar and driving force for innovation. "Esports can bring young people on board with important topics like programming and information technology, learn how to communicate with different cultures and teamwork through games, and even affect their future career development. At the same time, it can help some universities attract young talents" said Karol Cagáň, Vice President of the European Esports Federation, describing the belief that Esports and people's lives will be more closely linked, and Esports will not only be a profession, but will also become more integrated into people's lives and education, cultivating skills that will develop into more interactive careers and industries. Tobias Scholz , Chair of the Esports Research Network, and Assistant Professor of the University of Siegen, added that "learning and mastering skills through esports is nothing new, but the world becomes more digital, so these skills are game changers. People learn how to cooperate with each other by playing video games. When we try to understand esports and its industry, it also helps us understand how the digital world works".

 

  The EU accelerates gametech and promotes the new development of the global game industry  

 

In the recent resolution of the European Parliament, video games are described as "complex creative works", which combine various artistic techniques with innovative technologies to form a cross-sectoral medium; video games possess strong innovation value and great potential in popularizing science and lifelong learning education, and can encourage a new generation of Europeans to pursue their careers in STEAM (science, technology, engineering, the arts and maths). The resolution passed by the European Parliament makes us think more seriously about the future development of the game industry.

 

At the webinar, experts and industry practitioners called on the international community to explore further cooperation on gametech. Luigi Gambardella believes that "both Europe and China have played a vital role in promoting cross-sector innovation through gametech. China and Europe should cooperate to explore the opportunities and challenges in the field of gametech innovation." Hsiung Ping-Chen , said, "Only when everyone continues to play and share an entertaining and joyful world, then we can have the opportunity to continue to develop."

 

One of the major challenges right now is making video games accessible to everyone. Tobias Scholz explained, "the resolution of the European Parliament on esports and video games draws the attention of the member states to the importance of this industry, stimulates the discussion and further promotes the growth of the industry." "In the esports industry, China is already a very big player. China has the world's largest ecosystem in terms of hardware manufacturing and application, and I very much hope to cooperate with China to explore future cooperation opportunities." Karol Cagáň said.

 

The game industry is a global industry. Conflicting regulations in different jurisdictions will make compliance hard for game businesses to operate in multiple jurisdictions. KooPee Hiltunen warned that we should be very careful when adapting new kinds of regulations because we have to take care of all regulations already existing at the global level. And if this would lead to confrontation between regulations inside the EU, that would not make game businesses any easier.

 

Gametech can bridge the cultural differences between China and Europe , thereby offering a message of unity. Marco Accordi Rickards explained, " China and Europe are two areas of the world that possess ancient and splendid civilizations. The interactive language in games makes it easier for young people to learn and accept, and therefore communicate across cultures. It's a truly important opportunity for Europe and China to work together and use gametech to present each other with different cultural histories and beautiful cultural heritage to enhance mutual understanding ."

 

 Cision View original content: https://www.prnewswire.com/news-releases/game-technology-can-play-a-bigger-role-in-global-innovation--voices-from-the-2022-international-gametech-webinar-301708109.html  

 

SOURCE ChinaEU

 
 

News Provided by PR Newswire via QuoteMedia

GAMING00
The Conversation (0)
Person holding virtual game icons over a smartphone screen.

Mobile Gaming Stocks: 10 Biggest Companies in 2025

According to market intelligence firm Newzoo, global gaming revenue came in at US$177.9 billion in 2024, with mobile gaming accounting for more than half of that amount at US$97.6 billion.

The firm states that the mobile gaming market has reached maturity but still achieved higher growth than the console and PC segments, with revenue up by 2.8 percent globally last year. The regions driving that growth are North America and Europe, where markets rebounded due to big releases and diversified revenue streams.

Mobile games are typically accessed through three core operating systems: Apple's (NASDAQ:AAPL) iOS, Microsoft's (NASDAQ:MSFT) Windows and Alphabet's (NASDAQ:GOOGL) Android. Notably, the iOS App Store generated nearly 37 percent of its revenue from mobile gaming apps in 2024, totaling US$3.83 billion. However, figures show that most mobile games on the market today are developed for Android, representing 75 percent of total mobile game downloads.

Keep reading...Show less
NorthStar Gaming Announces Revocation of Management Cease Trade Order

NorthStar Gaming Announces Revocation of Management Cease Trade Order

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") is pleased to announce that effective May 16, 2025, the Ontario Securities Commission has revoked the temporary management cease trade order ("MCTO") it had previously granted to the Company on May 8, 2025 under National Policy 12-203 Management Cease Trade Orders, as the Company successfully completed the filing of its annual audited financial statements, management's discussion and analysis, and related certifications for the year ended December 31, 2024 (collectively, the "Annual Filings") on May 14, 2025.

The revocation of the MCTO means members of management are no longer prevented from trading the Company's securities. All of the Annual Filings are available under the Company's profile on SEDAR+ at www.sedarplus.ca.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
NorthStar Gaming Reports Year-End 2024 Results

NorthStar Gaming Reports Year-End 2024 Results

 

Annual Revenue Growth of 57%, Gross Margin up 91%

 

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announced its financial results for the three months and year ended December 31, 2024. The Company also announced that it will discuss the results on an investor webinar to be held Thursday, May 15, 2025 at 11:00am (please see below for details). All dollar figures are quoted in Canadian dollars.

 

"We delivered strong financial results in 2024, highlighted by 57% growth in revenue and a 91% increase in gross margin. At the same time, we held marketing expense to a 10% increase and reduced G&A expense, demonstrating the continually improving operating leverage built into our business model," said Michael Moskowitz, Chair and CEO of NorthStar. "Equally important, our team rolled out innovations in both our sportsbook and casino that have further differentiated NorthStar Bets as a premium offering and helped drive the retention of, and engagement with, our loyal customers."

 

Restatement of Results

 

The comparative results for the three months and twelve months ended December 31, 2023 have been restated in the financial statements and management's discussion & analysis ("FY2024 MD&A") for the year ended December 31, 2024 to include additional merchant fees and player bonus expenses which were not captured in the previously published financial statements (note 2 of the Financial Statements for the year ended December 31, 2024). The Company's payment processor deducted the additional merchant fee from the daily remittances to the Company, and the deductions were not accounted for by the Company. These additional fees were identified as part of the year-end reconciliation of the amount due from the payment processor, and the financial statements and FY2024 MD&A have been adjusted accordingly. These restatements did not impact the cash balances reported for the years ended December 31, 2022, 2023, or 2024. However, they did result in adjustments to the reported current asset balances for those periods.

 

Financial Highlights for the Fourth Quarter Ended December 31, 2024 ("Q4 2024"):

 
  •  Total Wagers1 at Northstarbets.ca were $303.0 million in Q4 2024, a 42% increase compared to $213.3 million in Q4 2023.
  •  
  •  Gross Gaming Revenue2 at Northstarbets.ca was $10.0 million in Q4 2024, a 31.6% increase from $7.6 million in Q4 2023.
  •  
  •  Revenue2 was $9.5 million in Q4 2024, a 51% increase from $6.3 million in Q4 2023. Revenue in Q4 2024 includes $1.5 million of managed services revenue, which compares to $0.2 million in Q4 2023.
  •  
  •  Gross Margin was $3.6 million, a 71% increase from $2.1 million in Q4 2023, while the Gross Margin percentage increased to 38.1%, up from 33.6% in Q4 2023.
  •  
  •  Profit/(loss) before marketing and other expenses1 was $0.6 million in Q4 2024 compared to a loss of $2.5 million in Q4 2023, indicating that gross margin is now sufficient to cover the Company's overhead expenses.
  •  

Financial Highlights for the Year Ended December 31, 2024 ("FY 2024"):

 
  •  Total Wagers2 at Northstarbets.ca were $980.0 million in FY 2024, a 51% increase compared to $648.8 million in the year ended December 31, 2023.
  •  
  •  Gross Gaming Revenue2 at Northstarbets.ca was $34.0 million in FY 2024, a 51% increase from $22.5 million in FY 2023.
  •  
  •  Revenue2 was $29.6 million in FY 2024, a 57% increase from $18.8 million in FY 2023. Revenue in FY 2024 includes $2.3 million of managed services revenue, which compares to $0.5 million in FY 2023.3
  •  
  •  Gross Margin was $10.5 million, marking a 91% increase from $5.5 million in FY 2023, with the Gross Margin increasing to 35.7%, up from 29.3% in FY 2023.
  •  
  •  Profit/(loss) before marketing and other expenses1 was $0.1 million in FY 2024 compared to a loss of $6.7 million in YTD 2023, an improvement of $6.8 million.
  •  

"Early in 2025, we completed our most significant fund-raising to date, with a $43.4 million debt financing. This capital gives us a long runway on which to continue our trajectory of growth in wagering, gross margins and improving operating leverage. This was a milestone event for our business," added Mr. Moskowitz.

 

2024 Operating Highlights:

 
  • Completed the inaugural Blackjack Championship tournament, an innovative online competition that helped drive the acquisition of new high-value players and engagement for existing customers while increasing Blackjack wagering activity.
  •  
  • Implemented a series of enhancements to the NorthStar Bets platform, highlighted by streamlined navigation in both the Casino and Sportsbook sections, a doubling of Casino game selection since the start of 2024, personalized prop bets and intelligent parlay suggestions.
  •  
  • Introduced the "NorthStar Elite" program and branded tables to help secure the loyalty and satisfaction of our most active players and reinforcing the Company's positioning as a premium offering.
  •  
  • Launched "Sports Insights 2.0," a robust suite of enhancements to our content vertical that includes a redesigned home page, comprehensive team and player statistics, injury and player news feeds, added coverage of popular sports and strengthened casino content.
  •  
  • Gained significant traction outside the Ontario market with managed services revenue from Northstarbets.com site, owned by the Abenaki Council of Wolinak, increasing from $0.5 million in FY 2023 to $2.3 million in FY 2024.
  •  
  • Outpaced the industry growth rates reported by iGaming Ontario in 2024 in both Total Wagers (51% for NorthStar vs. 33% for the industry) and Gross Gaming Revenue (51% for NorthStar vs. 31.5% for the industry).
  •  

Outlook

 

"We expect our consistent pattern of year-over-year revenue increases to continue throughout 2025, based on our ongoing success in attracting and engaging high-value players," said Mr. Moskowitz. "We will maintain disciplined control over costs so that incremental gross margin falls primarily to the bottom line. As we continue to focus on operational excellence, we remain confident that we have the capital necessary to reach profitability based on our current business platform."

 

FY 2024 Corporate Update Webinar

 

On May 15, 2025, Michael Moskowitz will present an in-depth Corporate Update, including a discussion of the Company's FY 2024 Earnings, current operations and strategic priorities. All investors and other interested parties are invited to register for the webinar at the link below.

 

Date: Thursday, May 15, 2025
Time: 11:00 am EDT
Register: Webinar Registration

 

Management will be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand in the registration form linked above.

 

Extension of Strategic Marketing Agreement

 

The Company also announced that its wholly owned subsidiary, NorthStar Gaming (Ontario) Inc. ("NorthStar Ontario"), has extended its strategic partnership with Playtech Software Limited ("Playtech Software") through the renewal of their previously announced strategic marketing agreement. Under the agreement, Playtech Software contributes services designed to accelerate NorthStar Ontario's player acquisition strategy in the province. The agreement was first implemented in June 2023 and has since been renewed several times. Pursuant to the latest renewal, Playtech Software will reimburse marketing expenses valued at a total of up to $1.5 million over a 3-month period through to March 31, 2025. Playtech Software will be compensated through a share of revenue from the income generated in connection with the marketing initiatives to which it contributes. The Transaction between Playtech and NorthStar Ontario is exempted from Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions.

 

"We are very pleased to renew the marketing services agreement with Playtech Software," said Michael Moskowitz, Chair and CEO of NorthStar. "The agreement serves to extend our marketing budget and has contributed to our tremendous growth in Ontario. Playtech plc continues to be a valuable strategic partner and we look forward to further collaboration."

 

Continuous Disclosure

 

Further to a review by the staff of the Ontario Securities Commission (the "OSC") of the Company's continuous disclosure, the FY2024 MD&A includes enhanced disclosures with respect to:

 
  • the Company's regulatory framework, licensing regimes applicable to its business operations and the legal authorizations necessary to conduct its business operations;
  •  
  • specific risk factors relating to the Company's business operations which include risks relating to operating in a heavily regulated industry, cyber security risks and risks relating to conflicts of interest with respect to directors and officers of the Company; and
  •  
  • the relationship between the Abenaki Council of Wolinak and the Company as well as its subsidiary, Slapshot Media Inc.
  •  

Such amended disclosure is being included in the FY2024 MD&A to address comments received from the OSC on its management's discussion & analysis, for the period ended September 30, 2024, and to improve the Company's disclosure.

 

As a result of having to include such enhanced disclosure after the OSC review, the Company will be placed on the public list of Refilings and Errors in accordance with OSC Staff Notice 51-711 (Revised) - Refilings and Corrections of Errors for a period of three (3) years.

 

Additional Information

 

For additional information, please refer to the Company's condensed consolidated financial statements for the year ended December 31, 2024, and the corresponding FY2024 MD&A. These documents are available on SEDAR+ at www.sedarplus.ca, and on the Company's corporate website at www.northstargaming.ca.

 

About NorthStar

 

NorthStar proudly owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience. Designed with high-stakes players in mind, NorthStar Bets Casino offers a curated selection of the most popular games, ensuring an elevated user experience. Our sportsbook stands out with its exclusive Sports Insights feature, seamlessly integrating betting guidance, stats, and scores, all tailored to meet the expectations of a premium audience.

 

As a Canadian company, NorthStar is uniquely positioned to cater to customers who seek a high-quality product and an exceptional level of personalized service, setting a new standard in the industry. NorthStar is committed to operating at the highest level of responsible gaming standards.

 

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

 

Non-IFRS Financial Measures [/ Reconciliation of Non-IFRS Measures to IFRS Measures]

 

Throughout this document, management uses certain non-IFRS financial measures and supplementary financial measures to evaluate the performance of the Company. The terms "Gross Gaming Revenue" "Total Wagers" and "Profit/(Loss) before marketing and other expenses" are non-IFRS financial measures. These measures are not recognized measures under International Financial Reporting Standards ("IFRS") and do not have a standardized meaning prescribed by IFRS and are, therefore, not necessarily comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective and to discuss NorthStar's financial outlook. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. We believe that securities analysts, investors and other interested parties frequently use non-IFRS measures, including industry metrics, in the evaluation of companies in our industry. Management also uses non-IFRS measures and industry metrics in order to facilitate operating performance comparisons from period to period, the preparation of annual operating budgets and forecasts and to determine components of executive compensation.

 

Total Wagers

 

Total Wagers are calculated as the total amount of money bet by customers in respect of bets that have settled in the applicable period. Total Wagers does not include free bets or other promotional incentives, nor money bet by customers in respect of bets that are open at period end. Total Wagers is used to provide investors with supplemental measures of our operating performance and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures.

 

Gross Gaming Revenue

 

Gross Gaming Revenue is calculated as dollar amounts bet by customers less the dollar amounts paid out to the customers in respect of such bets which have settled in the applicable period.

 

Reconciliation of Non-IFRS Measures to IFRS Measures

 
                                
 In Q4 2024, the Company reported $10.0 million of Gross Gaming Revenue ($34.0 million in FY 2024) and has provided a reconciliation to the most comparable IFRS financial measure (Revenue) as follows:
$ Millions (unaudited)
Unaudited Three
months ended
Year ended
 Dec 31,
2024 
 Dec 31,
2023 
 Dec 31,
2024 
 Dec 31,
2023 
Gross gaming revenue from wagered games$10.0$ 7.6$ 34.0$22.5
Bonuses, promotional costs and free bets(2.0)(1.5)(6.7)(4.2)
Sub-total Gaming revenue8.06.127.318.3
Other revenue from managed services1.50.22.30.5
Revenue$ 9.5$ 6.3$ 29.6$ 18.8
 

 

 

Operating Results

 

Marketing expenses are a key driver of the business but are completely discretionary. Management considers "Profit/(Loss) before marketing and other expenses" to be a good indication of the extent to which the business' Gross Margin is in excess of its overhead costs, and therefore offsetting some portion of marketing expenses, reflecting improving economies of scale.

 
                                                    
$ Millions (unaudited) Unaudited Three 
months ended 
Year ended
 Dec 31,
2024 
 Dec 31,
2023 
 Dec 31,
2024 
 Dec 31,
2023 
Revenue$ 9,478$ 6,275$ 29,556$ 18,845
Cost of Revenues5,8684,16719,01313,317
Gross Margin3,6102,10810,5435,528
General and administrative expenses3,0334,45210,45312,277
 Profit/(Loss) before marketing and other expenses (1) 577(2,344)90(6,749)
Marketing5,2495,47215,45614,094
Loss before other expenses (1) (4,672)(7,816)(15,366)(20,843)
Other expenses(1,070)1493,6456,547
Net loss$ (3,602)$ (7,965)$ (19,011)$ (27,390)
 

 

 

(1) These measures are not defined by IFRS, do not have standard meanings and may not be comparable with other industries or companies.

 

Cautionary Note Regarding Forward-Looking Information and Statements

 

This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada ("forward-looking statements"), including without limitation, statements with respect to the following: expected performance of the Company's business, the Company's growth plans being fully funded, expansion into new markets and future growth opportunities, and expected benefits of transactions. The foregoing are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management's opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, among others, the following: risks related to the Company's business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the "Risk Factors" section of the Company's most recent annual information form, which is available under NorthStar's profile on SEDAR+ at www.sedarplus.ca. Many of these risks are beyond the Company's control.

 

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

 

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

 
 

For further information:

 

Company Contact:

 

Corey Goodman
Chief Development Officer 647-530-2387
investorrelations@northstargaming.ca

 

Investor Relations:
RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com

 
 

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
NorthStar Gaming Announces Receipt of Management Cease Trade Order

NorthStar Gaming Announces Receipt of Management Cease Trade Order

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announces that its principal regulator, the Ontario Securities Commission, has granted its request for a management cease trade order ("MCTO") effective May 8, 2025.

As previously announced on April 29, 2025, the Company applied for the MCTO due to a delay in filing its annual audited financial statements, management's discussion and analysis and related certifications for the financial year ended December 31, 2024 (the "Annual Filings") which were required to be filed by April 30, 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
NorthStar Gaming Announces Delay of Annual Filings

NorthStar Gaming Announces Delay of Annual Filings

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announces an anticipated delay in the filing of its annual audited financial statements, management's discussion and analysis and related certifications for the financial year ended December 31, 2024 (collectively, the "Annual Filings"). The Company does not expect to file its Annual Filings by the regular filing deadline of April 30, 2025, as required, due to an unanticipated delay relating to the audit of the Annual Filings. The Company is working diligently with its auditor to finalize the Annual Filings and expects to file the Annual Filings no later than May 15, 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×