Deloitte TMT 2022 Predictions: Chip Shortage Continues; AI Regulation Increases; Industry Pushes for Sustainable Smartphones; More Entertainment Choices Equals More Churn

 
 

Deloitte today released its Technology, Media & Telecommunications (TMT) 2022 Predictions report which highlights how worldwide trends in TMT may affect businesses and consumers worldwide. The report underscores how many of these trends are being driven by the global pandemic's economic and societal shifts, resulting in an increasingly connected and multi-device world, fueling the world's need for more chips, growth in connectivity, and entertainment options.

 
 

  

 

 
 

"The pandemic increased the need to maintain connections, improve productivity and experience entertainment, with accelerated adoption from both consumers and businesses alike," said Kevin Westcott , vice chair, Deloitte LLP, U.S. TMT and global Telecommunications, Media and Entertainment (TME) practice leader. "In 2022, we foresee these behaviors continuing to grow, but amid a backdrop of challenges. Supply chain woes, increasing regulatory issues and changing media habits will be at the forefront of business leaders' minds as these challenges impact their ability to meet market demands."

 

  Surge in chip demand but supply crunch continues
Deloitte predicts that many types of chips will still be in short supply during 2022, but it will be less severe than it was for most of 2021, and it will not affect all chips. The continuation of the chip shortage and its staying power boils down to a significant surge in demand, driven by digital transformation and accelerated by the pandemic.

 

Unsurprisingly, venture capital investment in semiconductors is taking off to fill that demand for new kinds of chips. Deloitte predicts that venture capital (VC) firms globally will invest more than US$6 billion in semiconductor startup companies in 2022. That may only be 2% of the US$300 billion -plus of overall VC investment expected for 2022, but it's more than three times larger than it was every year between 2000 and 2016.

 

  Wi-Fi 6 outselling 5G devices
Many countries have adopted 5G over the past two years, but Wi-Fi 6 devices are now quietly outselling 5G devices by a large margin and will likely continue to do so for the next few years. Deloitte predicts that more Wi-Fi 6 devices will ship in 2022 than 5G devices, to the tune of at least 2.5 billion Wi-Fi 6 devices versus roughly 1.5 billion 5G devices. The reason: Wi-Fi 6, just as much as 5G, has a significant role to play in the future of wireless connectivity—not just for consumers, but also for the enterprise.

 

  Smartphone sustainability
The world's most popular consumer electronics device expected to have an installed base of 4.5 billion in 2022 – will generate 146 million tons of CO2 or equivalent emissions (CO2e) in 2022. While this is less than half a percent of the 34 gigatons of total CO2e emitted globally in 2021, it is still worth trying to reduce. There is clear evidence the industry is making smartphones more sustainable, by reducing the need for unplanned replacement, offering software support for smartphones for longer and lengthier phone lifetimes, ultimately helping to reduce the environmental impact of smartphones.

 

  AI and managing sensitive data
Deloitte predicts that 2022 will see a great deal of discussion around regulating AI more systematically, with several proposals being made—although enacting them into fully enforced regulations will not likely happen until 2023 or beyond. Some jurisdictions may even try to ban whole subfields of AI -- such as facial recognition in public spaces, social scoring, and subliminal techniques -- entirely. In addition, driven by the increasing urgency of safeguarding data used in AI applications, emerging privacy enhancing technologies such as homomorphic encryption (HE) and federated learning (FL) will also experience dramatic growth. Already in use by leading technology companies today, the combined market for HE and FL will grow at double-digit rates in 2022 to more than US$250 million , and by 2025, this market is expected to top US$500 million .

 

"AI has tremendous promise, but we're likely to see more scrutiny in 2022 as regulators look to better understand the privacy and data security implications of emerging AI applications, and implement strategies to protect consumers," said Paul Silverglate , vice chair, Deloitte LLP and U.S. technology sector leader. "Tech companies find themselves at a convergence point where they can no longer leave ethical issues like this to fate. What's needed is a holistic approach to address ethical responsibility; companies that take this approach, especially in newer areas like AI, can expect greater acceptance, more trust and increased revenue."

 

  As the world churns: The streaming wars go global
As leading streaming providers expand globally, while national media companies spin up their own domestic streaming services, the amplified competition is creating abundant consumer choice—and accelerating churn. In 2022, Deloitte predicts that at least 150 million streaming video-on-demand services (SVOD) paid subscriptions will be cancelled worldwide, with churn rates of up to 30% per market.

 

  Games consoles, much to celebrate at 50
The gaming console ecosystem celebrates its 50 th birthday in 2022 in strong health with record revenues, a full slate of the latest generation devices, and a strong foundation for further growth. Deloitte predicts that the console market will generate US$81 billion in 2022, up 10% from 2021. Revenue per console player, of whom there will be 900 million by the end of the year, is expected to average US$92 per person—substantially more than the projected US$23 per PC gamer and US$50 per mobile gamer. Beyond 2022, console software sales are expected to see continued growth, reaching close to US$70 billion by 2025. Over this period, digital game purchases, including downloads, subscriptions, game passes, and in-app payments are expected to rise as a share of sales from 65% in 2022 to 84% in 2025.

 

"One thing we've learned during the past year is that consumers want entertainment choices, in content, in cost and in their ability to connect socially through their experiences," said Jana Arbanas , vice chair, Deloitte LLP and US Telecom, Media and Entertainment (TM&E) sector leader. "As more global players enter these already competitive markets around the world, entertainment companies will be challenged to constantly innovate, be nimble in their actions and respond quickly to market changes in order to capture the minds and wallets of increasingly savvy consumers."

 

  Boys, men and books – oh my
There's a gender reading gap not only impacting men and boys and their enjoyment of reading, their reading comprehension and ability, but society as a whole. In the coming year and beyond, Deloitte predicts that boys and men in almost every country will continue to spend less time reading books, and read them less frequently, than girls and women.

 

  More insights from Deloitte 2022 TMT Predictions report include:  

 
  •   Continued focus on diversity, equity and inclusion: Although the largest players in the technology industry are closing the gender gap and will reach 33% overall female representation in the workforce in 2022, women in technical roles continue to lag by 8% and the pandemic has caused increased churn with 57% of women in TMT expecting to change employers within two years and a startling 22% considering leaving the workforce citing workload increases impacting wellbeing.
  •  
  •   Sports NFTs kick sports memorabilia into the digital age: Deloitte predicts that Non-Fungible Tokens (NFTs) for sports media will generate more than US$2 billion in transactions in 2022, about double the figure for 2021. By the end of 2022, we expect that 4 to 5 million sports fans globally will have purchased or been gifted an NFT sports collectible. Interest in sports NFTs is likely to be spurred by activity in the wider NFT market, including digital art, the top five most valuable sales of which had generated over US$100 million by August 2021.
  •  
  •   Strong demand for wearable wellness technology: Deloitte predicts that 320 million consumer health and wearable wellness devices will ship worldwide in 2022, and by 2024, that figure will reach 440 million units. This is being driven by new offerings hitting the market and more health care providers becoming comfortable using them. Their impact will increase even more if doctors trust their utility and people feel their data is secure. Similarly, an increased focus on mental health and wellbeing will contribute to global spending on mobile mental health applications reaching close to US$500 million in 2022.
  •  
  •   RISC-V rises: Open-source RISC-V, an instruction set architecture for chip design, is gaining market traction, and attracting investment. Deloitte predicts that the market for RISC-V processing cores will double in 2022 from what it was in 2021, since it will allow smaller device manufacturers to build hardware, allow Chinese chipmakers to avoid sanctions, and allow developers and researchers to design and experiment with a proven and freely available instruction set architecture.
  •  
  •   A bright future for floatovoltaics: Floating solar panels which are now commercially viable, known as floatovoltaics have entered the renewable energy mix allowing places without enough land for large solar arrays to build them on lakes and reservoirs instead. Deloitte predicts that the aggregate installed capacity of floating photovoltaics (FPVs) will reach 5.2 gigawatts peak (GWp) globally by the end of 2022, representing US$4 to 5 billion in spending, mainly in Asia.
  •  

Deloitte's annual TMT Predictions report provides an outlook on technology, media and telecommunications trends that may disrupt and transform the business and consumer ecosystems worldwide. Visit www.deloitte.com/predictions to learn more and connect with us on: @DeloitteTMT , @KevinWestcott , @PaulSilverglate , @ JanaArbanas , and #DeloittePredicts.

 

  About Deloitte  
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 345,000 people worldwide connect for impact at www.deloitte.com .

 

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States , Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

 
 
 

 

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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.

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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

 
 

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NorthStar Gaming Announces Receipt of Management Cease Trade Order

NorthStar Gaming Announces Receipt of Management Cease Trade Order

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