According to the Chartered Governance Institute, "Good quality, ethical decision-making builds sustainable businesses and enables them to create long-term value more effectively." So it's no surprise that the head of start-up Neuralink (Elon Musk) has caused so many governance experts to try to wrap their brains around the decision he and a coworker made to have children together. Read More >>
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When Corporate Governance Gets Sticky
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Tesla Releases Third Quarter 2022 Financial Results
Tesla has released its financial results for the third quarter of 2022 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update.
As previously announced, Tesla management will host a live question and answer (Q&A) webcast at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the results and outlook.
What: Tesla Third Quarter 2022 Financial Results Q&A Webcast
When: Wednesday, October 19, 2022
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q3 2022 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)
The webcast will be archived on the company's website following the call.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221019006060/en/
Investors Relations Contact:
ir@tesla.com
News Provided by Business Wire via QuoteMedia
Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for Third Quarter 2022
In the third quarter, we produced over 365,000 vehicles and delivered over 343,000 vehicles.
Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks. In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter. These cars have been ordered and will be delivered to customers upon arrival at their destination.
Production | Deliveries | Subject to operating lease accounting | |
Model S/X | 19,935 | 18,672 | 10% |
Model 3/Y | 345,988 | 325,158 | 3% |
Total | 365,923 | 343,830 | 3% |
Tesla will post its financial results for the third quarter of 2022 after market close on Wednesday, October 19, 2022. At that time, Tesla will issue a brief advisory containing a link to the Q3 2022 update, which will be available on Tesla's Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company's financial and business results and outlook.
What : Date of Tesla Q3 2022 Financial Results and Q&A Webcast
When : Wednesday, October 19, 2022
Time : 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q3 2022 Update : https://ir.tesla.com
Webcast : https://ir.tesla.com (live and replay)
Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company's website.
For additional information, please visit https://ir.tesla.com .
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Tesla vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Forward-Looking Statements
Statements herein regarding our production and delivery volumes are "forward-looking statements" based on management's current expectations and are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221002005048/en/
Investor Relations:
ir@tesla.com
News Provided by Business Wire via QuoteMedia
Tesla Announces a Three-for-One Stock Split
Tesla, Inc. ("Tesla") announced today that the Board of Directors has approved and declared a three-for-one split of Tesla's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Each stockholder of record on August 17, 2022 will receive a dividend of two additional shares of common stock for each then-held share, to be distributed after close of trading on August 24, 2022. Trading will begin on a stock split-adjusted basis on August 25, 2022.
Forward-Looking Statements
Certain statements, including, without limitation, statements regarding the expected timing and impact of the stock dividend are "forward-looking statements" that are subject to risks and uncertainties. These forward-looking statements are based on management's current expectations. Various important factors could cause actual results to differ materially, including the risks identified in our filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. Tesla disclaims any obligation to update this information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220805005007/en/
Investor Relations Contact:
ir@tesla.com
News Provided by Business Wire via QuoteMedia
Tesla Releases Second Quarter 2022 Financial Results
Tesla has released its financial results for the second quarter of 2022 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update.
As previously announced, Tesla management will host a live question and answer (Q&A) webcast at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the results and outlook.
What: Tesla Second Quarter 2022 Financial Results Q&A Webcast
When: Wednesday, July 20, 2022
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q2 2022 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)
The webcast will be archived on the company's website following the call.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220720006004/en/
Investors Relations Contact:
ir@tesla.com
News Provided by Business Wire via QuoteMedia
Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for Second Quarter 2022
In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla's history.
Production |
Deliveries
Subject to operating lease accounting
Model S/X
16,411
16,162
12%
Model 3/Y
242,169
238,533
3%
Total
258,580
254,695
4%
Tesla will post its financial results for the second quarter of 2022 after market close on Wednesday, July 20, 2022. At that time, Tesla will issue a brief advisory containing a link to the Q2 2022 update, which will be available on Tesla's Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company's financial and business results and outlook.
What : Date of Tesla Q2 2022 Financial Results and Q&A Webcast
When : Wednesday, July 20, 2022
Time : 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q2 2022 Update : https://ir.tesla.com
Webcast : https://ir.tesla.com (live and replay)
Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company's website.
For additional information, please visit https://ir.tesla.com .
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q2 earnings. Tesla vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220702005018/en/
Investor Relations Contact:
ir@tesla.com
News Provided by Business Wire via QuoteMedia
NorthStar Gaming Holdings
Overview
NorthStar Gaming (TSXV:BET,OTCQB:NSBBF) owns and operates a casino and sportsbook gaming platform in Canada under the name NorthStar Bets. Since its listing on the TSXV in March 2023, the company has seen significant success with its uniquely differentiated offering that combines high-quality sports journalism with betting/casino games. Specifically, NorthStar utilizes targeted content to engage, attract and retain sports bettors, which leads to higher retention rates and higher player values.
NorthStar’s competitors may provide insights, but they are hosted within a different platform causing inconvenience to the end-users who must swap between apps. NorthStar’s proprietary Sports Insights editorial features, offered seamlessly to customers within the NorthStar Bets website and app, continue to be a strong differentiator and driver of value.
In 2024, NorthStar launched Sports Insights 2.0 with new features, design, stats and a smoother user experience. Sports Insights is a key differentiating feature that supports the company's position as a premium brand and industry leader at the intersection of betting and sports media. The content includes analysis of upcoming events, betting strategies and helpful tips. Since Sports Insights is integrated directly within NorthStar's sportsbook, users can wager directly from the content without leaving the betting environment.
The company’s industry-leading tech stack is a result of its partnership with Playtech and Kambi, both reputable and established industry players. Playtech is the world’s largest and most trusted online gaming software supplier, while Kambi is the leading provider of premium sports betting and technology services. Moreover, Playtech is NorthStar’s largest shareholder, with more than C$22 million invested into the business since its launch, including a C$10-million infusion in October 2023, In 2024, Playtech extended this strategic partnership with NorthStar through a new marketing agreement and C$3 million in short-term financing, further validating the strong potential for the rapidly growing online gaming and sports market in Canada.
NorthStar Gaming, which started exclusively in the Ontario (NorthStarBets.ca) market, has expanded its revenue potential and now has the ability to drive revenue outside of Ontario, following its May 2023 acquisition of Slapshot Media. Slapshot Media is the managed services provider to NorthStarBets.com, an iGaming site owned and operated by the Abenaki Council of Wolinak and licensed by The Kahnawake Gaming Commission.
With Ontario accounting for 39 percent of the Canadian population, NorthStartBets.com opens up the company to the remaining 61 percent of the Canadian market, an important catalyst for growth in customer base and revenue.
The company has a strong leadership team led by CEO Michael Moskowitz, who has more than 25 years of experience in the electronics industry and was the previous chairman and CEO of Panasonic North America.
Company Highlights
- NorthStar Gaming is an operator of casino and sportsbook gaming platforms in Canada. The platform provides real-time news, statistics, analysis and scores directly in the betting environment along with the most popular online casino games.
- The company began its operations in the Ontario market. Its acquisition in May 2023 of Slapshot Media, a marketing and managed services provider for spreads.ca (now rebranded NorthStarBets.com), has enabled NorthStar to derive revenue outside Ontario throughout the rest of Canada, an important catalyst for growth.
- NorthStar is poised to capture a material share of the Canadian market, estimated to reach C$8.5 billion in total addressable market by 2026, with more than 60 percent of the market being outside of Ontario.
- Tier 1 partnerships with sports betting and technology providers such as Playtech and Kambi ensure customers with best-of-breed entertainment and betting experience.
- In addition to being a technology provider, Playtech is NorthStar’s largest shareholder, investing more than C$22 million into the business since launch. Playtech's unparalleled expertise in the gaming industry will accelerate NorthStar’s growth and rapidly expand its user base.
- Sports Insights 2.0 was launched in 2024 with new features, design, stats and a smoother user experience.
- An experienced management team with local knowledge and insights targeting the Canadian audience leads the company.
Key Brands
NorthStarBets.ca
It is available to players in Ontario. The main game offerings on Northstarbets.ca include a sportsbook with pre-live and live markets with monthly sports betting markets, and slot/live and jackpot casino games. Northstarbets.ca offers more than 500 casino games, including slots, blackjack, roulette and baccarat, and a variety of stakes and live dealer games.
Liver dealer games are among the most popular among users. A “live dealer” casino game has a real person as the dealer with the game streamed on video. The live video feeds of the dealers and the casino environment are streamed to the players' computers or mobile devices in real time. This technology enables players to see the game as it unfolds and interact with the dealer and other players.
NorthStarBets.com
It is available to players outside Ontario. NorthStarBets.com is a rebrand of Spreads.ca, an iGaming site owned and operated by the Abenaki Council of Wolinak, and is offered through NorthStar Gaming’s wholly owned subsidiary, Slapshot Media, a Canadian iGaming marketing and managed services provider.
Management Team
Michael Moskowitz – CEO and Chairman
Michael Moskowitz is the chief executive officer and a founding partner of NorthStar. He is a veteran technology executive and transformative leader who has more than 25 years of leadership experience in the consumer, communications, gaming and technology industries. Moskowitz was the previous CEO and chairman at Panasonic North America, where he led the company’s successful business and growth strategy in delivering integrated technology solutions for businesses, government agencies and consumers across North America. Prior to that, he also served as president and CEO of XM Canada (XSR.TO) and president of Palm in the Americas International. He sits on the executive board of Consumer Technology Association (CTA/CES) which represents the largest and most innovative technology companies in North America. He previously served as a director of Mobilicity (Canada), Hussmann Corporation (USA), and Panasonic Avionics Corporation (USA).
Corey Goodman – Chief Development Officer, Counsel and Corporate Secretary
Corey Goodman has held a variety of senior executive roles in both legal and business development capacities for nearly 20 years, and most recently served as chief corporate development officer to Torstar Corporation. His focus is on mergers and acquisitions and partnerships in media, energy and regulated industries. He was also general counsel to three public issuers.
Chin Dhushenthen – Interim CFO and VP of Compliance
Chin Dhushenthen has held numerous executive positions across a wide variety of functions including finance, compliance, risk management and technology. His prior experience includes The Hunter Group, Azerty United Canada, Hydrogenics, and most recently at CAPREIT. Dhushenthen is a chartered professional accountant, with more than 25 years of proven experience impacting business growth and maximizing profits through contributions in financial management and productivity improvements.
Barry Shafran – Lead Director
Barry Shafran has extensive public and private company leadership and board experience in multiple industries, including financial services, online gaming and the service industry. He was the founder and CEO of Chesswood Group, a financial services business, and he helped it scale from $10 million to $1 billion in revenues. Prior to Chesswood, he founded cars4U.com which was Canada’s first online auto retailer. On the iGaming front, he has worked with Cryptologic, an online gaming software provider. He was involved in the sale of Don Best (Las Vegas), a well-known odds-maker.
Vic Bertrand – Director
Vic Bertrand has more than 35 years of global business experience. From 1986 to 2014, he co-led MEGA Brands, transforming his family’s small local business into a vertically integrated, global toy leader with sales in over 100 countries. Bertrand is currently president of Stratinn, a real estate and investment firm. From 2019, he was CEO of ToysRUs CDA, where he restored profitability leading to an exit in 2021. In addition, he is an active advisor and director currently serving on the boards of CardioMech (Norway), Soundbite (Canada), and Spinal Stabilization Technologies (USA/Ireland).
Brian Cooper – Director
Brian Cooper has more than 30 years of experience in athlete representation, activation management, broadcast programming, executive-level property leadership, and sports marketing. He has been recognized for his imprint on the Canadian sports and entertainment landscape and was twice named one of the Globe and Mail’s Top 25 Power Players in Canadian Sports, Yahoo’s Top 25 most influential people in Canadian Sport, and was the first inductee to the Sponsorship Marketing Council of Canada’s Hall of Fame.
Chris Hodgson – Director
Chris Hodgson sits on the board of directors of many companies including GreenFirst, Helios Fairfax Partners Corporation, and Fairfax India Holdings Corporation. As a member of the Provincial Parliament, he served as Minister of Natural Resources, Minister of Northern Development and Mines, chairman of the Management Board of Cabinet, Deputy House Leader, and Minister of Municipal Affairs and Housing. As chairman of the Management Board of Cabinet, Hodgson was responsible for all gaming operations in Ontario. He has a background in real estate development and municipal politics in Ontario’s Haliburton County and has a Bachelor of Arts from Trent University.
Dean MacDonald – Director
Dean MacDonald has had a long and successful career in executive roles at many companies. Previously, he served as executive chairman and president and chief executive officer of ClearStream Energy and its predecessor Tuckamore Capital, as president and managing partner of Cable Atlantic, chief operating officer of Rogers Cable, and as the chief executive officer of Persona, a TSX-listed cable and internet services company. He has management and investment experience in several industries, including energy, commercial real estate, marketing and communications. He has served on numerous public and private boards over the past three decades.
Chris McGinnis – Director
Chris McGinnis has over 20 years of experience in finance, accounting, investor relations, corporate strategy, M&A, and equity research. He is currently chief financial officer at Playtech, the leading online gambling technology company. Prior to joining Playtech, McGinnis was head of corporate strategy at software company Temenos. He started his career at Deloitte in Canada where he qualified as a chartered professional accountant. He has also worked in Equity Research for UBS in Canada and Bank of America Merrill Lynch in the UK. He is also a chartered financial analyst.
Alex Latner – Director
Alex Latner joined Playtech as general counsel in January 2017. Prior to that, Latner spent his entire career in the London office of international law firm Berwin Leighton Paisner LLP (BCLP), now Bryan Cave Leighton Paisner LLP, where he was a partner in the corporate finance team from 2008 until he left the firm in 2017, having originally joined the firm as a trainee solicitor in 1998. At BCLP, Latner advised on a wide range of corporate finance transactions including flotations, secondary offerings and public and private M&A. Alex has extensive experience in the UK public markets, and acted for a number of listed UK and international companies and various investment banks and other corporate finance intermediaries across a broad range of industries, such as technology (including betting and gaming), real estate and the wider built environment. His clients included Playtech, which he had advised since before its original IPO on the London Stock Exchange’s AIM market in 2006.
Mike Cormack – Head of Content
Mike Cormack has two decades of experience in Canadian sports media, holding various editorial leadership roles. His strengths are developing and leading successful multiplatform content teams and strategies. He was previously managing editor of The Athletic, Toronto, and managing editor of sportsnet.ca.
GameStop Frenzy Cools, E*Trade Considers Roaring Kitty Ban
GameStop (NYSE:GME) continues to cool following a trading frenzy that drove shares up by 75 percent between the close of trading last Friday (May 31) and the start of trading on Monday (June 3).
The brief rally, which took GameStop shares to US$40.09 on Monday morning, was sparked by a Reddit (NYSE:RDDT) post made late Sunday (June 2) by an account tied to the video game retailer's most prominent supporter, Keith Gill.
Gill, who ignited the meme stock craze in 2021 and is known as Roaring Kitty on other platforms, posted a screenshot on Reddit's Superstonk subreddit that shows a purported US$175 million position in GameStop shares and call options.
However, late on Monday, concerns arose when the Wall Street Journal reported that there had been discussions among executives at Morgan Stanley's (NYSE:MS) trading platform E*Trade about a potential ban on the trading account that is believed to belong to Gill. It remains to be seen if E*Trade will remove the account from the platform.
Gamestop’s share price closed Monday at US$28, up 21 percent over the prior trading day, but moved down 5.5 percent through Tuesday’s (June 4) trading session to close at US$26.50.
This recent surge marks the second time in a month that GameStop has experienced such frenzied activity. In mid-May, Gill's return to the social media platform X, formerly known as Twitter, drove the stock up 180 percent over two days.
Back in 2021, GameStop's share price surged as high at US$86.88 in a coordinated short squeeze.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
GameStop Surges Over 70 Percent in Flashback to 2021 Frenzy
Over three years after the infamous GameStop (NYSE:GME) short squeeze, the American retailer’s share price skyrocketed as much as 110 percent on Monday (May 13) before pulling back to a more than 70 percent gain.
The surge came on the heels of a social media post by "Roaring Kitty," also known as Keith Gill. His first online appearance since 2021 has reignited memories of the meme stock frenzy that captivated markets in 2021.
Gill, who gained notoriety for his bullish stance on GameStop, posted a meme on X (formerly Twitter) depicting a focused video gamer. It received widespread attention, accumulating over 81,000 likes and 9,000 comments in just a few hours.
A former marketer for Massachusetts Mutual Life Insurance, Gill became a central figure in the WallStreetBets subreddit and YouTube community during the meme stock craze that happened in 2021.
His relentless optimism about GameStop's prospects attracted a legion of retail traders, ultimately leading to a historic short squeeze and significant losses for hedge funds betting against the stock.
At its peak, the movement took GameStop’s share price to a pre-market value of over US$500 — a staggering thirtyfold increase from its initial valuation of US$17.25 at the beginning of January 2021.
Short interest in GameStop remains substantial, accounting for approximately 24 percent of the freely available shares.
The latest surge in GameStop shares has further exacerbated losses for short sellers, with May month-to-date losses exceeding US$1.34 billion, according to data from S3 Partners.
This week's renewed GameStop rally has not been not an isolated event, with other meme-related stocks also experiencing notable gains. AMC Entertainment (NYSE:AMC), a favorite among retail traders, surged by as much as 50 percent during Monday's session, while Trump Media & Technology (NYSE:DJT) saw an 8 percent increase.
However, the resurgence of meme stocks has reignited concerns among market participants, particularly regarding the sustainability of these inflated valuations. While retail traders are celebrating the latest rally, critics warn of the potential consequences of speculative trading and market manipulation.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
NorthStar Gaming Leverages Content to Create Engaged, Active Players, CEO Says
NorthStar Gaming (TSXV:BET,OTCQB:NSBBF) is leveraging its rich, compelling content to better engage its customers, which ultimately leads to higher revenue, said NorthStar Chairman and CEO Michael Moskowitz, following an earlier announcement that the company is rolling out enhancements to the Sports Insights content on its platform.
“From the time that we founded NorthStar Gaming, we took the view that providing compelling content would lead to higher engagement with our customers,” he said. "And we're finding just that. We're planning to launch Sports Insights 2.0 in the first half of 2024 with redesigned sports and homepages, live scoreboards and tickers, live odds, trending topics and a greater tie-in in terms of the player journey and promotional offers that we provide to them."
Moskowitz noted that leveraging content helps attract new customers, with several media organizations using the company’s content on their own sites. “Ultimately, these articles and this content will help to create awareness around the NorthStar Bets brand and platform, and ultimately drive traffic to our site, which will convert into revenue.”
He added that Sports Insights readers are more engaged and active on the NorthStar Gaming platform.
“We're finding that deposits are up by 40 percent. We see much higher wagering, a much higher number of bets per player for those who are accessing (Sports) Insights," Moskowitz said. "It ultimately leads to a much more valuable player, and will drive revenue growth longer term because of its stickiness.”
Watch the full interview with NorthStar Gaming Chairman and CEO Michael Moskowitz above.
Disclaimer: This interview is sponsored by NorthStar Gaming (TSXV:BET,OTCQB:NSBBF). This interview provides information which was sourced by the Investing News Network (INN) and approved by NorthStar Gaming in order to help investors learn more about the company. NorthStar Gaming is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with NorthStar Gaming and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Game-changing Prospects for the iGaming Market
iGaming has grown considerably in recent years. Driven by innovations in web technology and a changing regulatory landscape, online casinos and sportsbooks are more popular than ever.
To understand how the landscape may change moving forward, investors should assess how the industry has evolved in recent years.
Online casinos: A historical perspective
For most of its history, Canada's iGaming market has remained largely unregulated. That changed in 2022 when the Alcohol and Gaming Commission of Ontario created the iGO. Equal parts regulator and iGaming market, iGO enforces iGaming regulations on both a regional and provincial basis while giving operators easy access to consumers.
With iGO, AGCO has laid a strong foundation for the future of Canada's iGaming market. Not only is Ontario now one of the largest iGaming markets in North America, but iGO has also displaced unregulated iGaming. In the year since its creation, iGO has delivered over C$1.4 billion in gaming revenue from C$35.6 billion in total wagers.
As of September 2023, iGO comprised over 71 websites and works with 47 operators. The market's 943,000 active players each spent an average of roughly C$191 per month. Casinos remain the most popular iGaming category, with sports betting and pay-to-play poker a distant second and third.
A changing digital landscape
The technology acceleration brought on by the global pandemic has paved the way for significant transformations in how organizations conduct their business and how consumers engage with the digital world.
"A key driver behind iGaming's rise is the changing behavior of consumers who are increasingly drawn to digital experiences," reads a piece published by NYCE International. "The convenience of accessing diverse gambling options from the comfort of one's home or mobile device has significantly contributed to the industry's growth."
In response, iGaming operators have begun leveraging this new landscape, developing strategies to enhance user experience and increase their market share.
Online casinos began working with well-known entertainment brands to integrate popular culture into their platform, which has helped generate unprecedented growth in the iGaming space, noted gambling expert Henry Thompson. Other operators turned to the video games industry for inspiration, incorporating things like leaderboards, interactive storylines and additional reward systems.
Globally, the outlook for iGaming is promising. Valued at US$53.7 billion in 2019, iGaming is expected to grow at a CAGR of 11.5 percent through 2027, according to Grand View Research.
The evolution of iGaming has been heavily influenced by innovations in technology and advancements in regulations. All indications are that these trends will continue to play a vital role in the future of iGaming.
Immersive experiences
Streaming video in the form of live dealer games is becoming increasingly common in online casinos. Things aren't likely to stop with video streaming, either. Although both technologies are still in their infancy where iGaming is concerned, virtual reality and augmented reality have the potential to revolutionize the gaming experience.
Artificial intelligence
Artificial intelligence can streamline customer support, especially with the help of generative AI programs like ChatGPT. This is only the tip of the iceberg for AI application in iGaming. Coupled with machine learning, AI allows operators to more easily create and deliver personalized gaming experiences. From an operational perspective, AI can also help online casinos provide fairer and more balanced games while protecting customers and preventing fraud.
Social gaming
Social gaming has been called the future of iGaming, and it's not difficult to see why. Blending iGaming with a sense of connection and community through avenues such as online casinos has the potential to make the experience considerably more satisfying and comfortable for users. Social iGaming can also improve ease of use through features such as social login.
Blockchain
The increased security offered by cryptocurrency is attractive for operators and gamblers alike. Blockchain technology also enables faster transactions and greater freedom.
Potential leaders in Canada's iGaming sector
Ontario is already a significant market for iGaming, and if other provinces follow suit, Canada could become one of the most important iGaming markets in the world. Operators that have emerged as leaders within the current market could be well placed to take advantage of potential.
We've profiled a few such companies below.
NorthStar Gaming Holdings (TSXV:BET)
NorthStar is an innovative iGaming operator that leverages artificial intelligence to help deliver personalized sports betting. The company is on track to become one of Canada's biggest iGaming operators, with triple-digit revenue growth in Q3 2023 compared to the same period in 2022. The company leverages artificial intelligence for personalized sports betting, and tier-one partnerships with sports betting and technology providers such as Playtech and Kambi to ensure best-of-breed entertainment and betting experience for customers.
NorthStar also recently announced a strategic partnership with in-venue technology provider BettorView to deliver its services to restaurants and bars across Ontario.
Jackpot Digital (TSXV:JJ)
Jackpot Digital technically isn't an iGaming provider – not exclusively, at least. The company designs and manufactures digital touchscreens for casinos. Recognizing the growing potential of iGaming and the advantages offered by its pre-existing industry partnerships, Jackpot established a public subsidiary in 2021 that marked its foray into the iGaming space.
FansUnite Entertainment (TSX:FANS,OTCQB:FUNFF)
A technology-focused sports and entertainment company targeting iGaming, FansUnite recently sold its Chameleon betting platform to increase its focus on its affiliate vertical through its subsidiaries BettingHero and American Affiliate.
In the company's financial update released in December 2023, CEO Scott Burton reported a gross margin of 63 percent and adjusted EBITDA of C$1.1 million for the first nine months of 2023, an increase of C$2.3 million year-over-year. The company also completed a C$3.04 million private placement, including a significant investment from Tekkorp Capital.
Investor takeaway
Compared to conventional casinos, iGaming is still a relatively new industry. At the same time, it has experienced meteoric growth over the past several years. As technology continues to evolve, the revenue prospects for iGaming operators, both in Canada and internationally, will likely continue to increase. For anyone seeking to invest in this space, there's no time like the present.
This INNSpired article is sponsored by NorthStar Gaming (TSXV:BET). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by NorthStar Gamingin order to help investors learn more about the company. NorthStar Gaming is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with NorthStar Gaming and seek advice from a qualified investment advisor.
Top Trends Shaping the Canadian iGaming Market
From emerging technologies to evolving regulations, the trajectory of iGaming has changed substantially in recent years as the market has experienced significant growth.
In 2022, Ontario's provincial government introduced game-changing legislation that established a regulatory framework for iGaming. Due to this legislation, regulated iGaming successfully displaced the unregulated market, according to Attorney General Doug Downey, creating over 1.6 million active player accounts across more than 70 operator websites as of April 2023 — just over one year following the change.
Ontario's regulation has also laid the groundwork for widespread change in the iGaming space across Canada. As iGaming continues to evolve, it's important to have a deeper understanding of both new and existing trends that will shape the industry's future, as well as regulations.
Embracing a digital revolution
To understand how the iGaming market has evolved, we must first examine the gambling industry as a whole. In 2023, Canadian gambling reached a revenue milestone of roughly C$16.6 billion. Experts have attributed this significant growth to a number of factors, including emerging technology, increased disposable income and evolving regulations.
Arguably the most significant growth came as a result of online gambling — or iGaming. The rapid digital transformation over the past several years presented a unique opportunity for iGaming, owing to increased internet usage and accessibility. Companies in the sector have embraced this opportunity, ramping up their marketing efforts and leveraging new tactics, such as the integration of recognizable characters from popular culture into their platforms.
This combination of gambling and entertainment has attracted a new wave of fresh players, which gambling expert Harry Thompson notes has "propell(ed) the popularity of online gambling platforms to unprecedented levels." August 2022 data from Statistics Canada suggests roughly 65 percent of Canadians aged 18 and above participated in gambling activities over the prior year. Lotteries, casinos and sports betting sites were the most popular gambling choices.
Beyond digitization, the growth and direction of both gambling and iGaming have been heavily influenced by a number of trends.
Mobile gambling
Mobile gambling represents a huge growth driver for the iGaming market. Thanks to the widespread use of mobile devices, digital gambling is more accessible than ever. Alongside an influx of mobile casino apps, there are also apps for everything from lottery tickets to online poker.
Video streaming, augmented reality and virtual reality
Possibly inspired by the prominence of tools such as Zoom during the pandemic, live dealer games use real-time video streaming to create an immersive, engaging hybrid gambling experience. These games have become increasingly popular in recent years, as they are essentially the "next best thing" to physical casinos.
Augmented reality and virtual reality, meanwhile, have the potential to create an even greater splash than live dealer games. As VR headsets become more available, players increasingly have the opportunity to step into digital replicas of some of the world's most iconic and luxurious casinos and destinations.
Artificial intelligence
Gambling companies are increasingly using artificial intelligence and machine learning to create more personalized, dynamic gaming experiences for their customers. Along with tailored game recommendations and bonuses, AI provides more efficient customer support. On the business side, gambling companies can use AI to ensure a fair gaming environment and protect against fraud.
Social gaming
Technically, social gaming — digital games of chance played for fun rather than using real money — is only tangentially related to iGaming. At the same time, the fusion of iGaming and social media should not be ignored. Online casinos are increasingly connecting with social networks such as Facebook, X and Instagram, promoting a sense of community while also offering improved ease of use, and some have even gone so far as to call this particular format the future of iGaming.
Gamification strategies
To provide deeper interactivity and improve customer loyalty, iGaming providers have started borrowing elements from video games when designing their user experience. From leaderboards to ongoing reward systems and interactive storylines, these features provide players with a sense of enjoyment beyond the thrill of gambling.
Blockchain
Blockchain technology, especially cryptocurrency, is becoming popular. Along with the promise of security and transparency through decentralization, crypto gambling also offers quicker transactions and greater safety. The value of the global crypto gambling market currently exceeds US$250 million.
New regulations
For years, iGaming has been something of a "Wild West" industry, especially in Canada. This changed with the establishment of iGaming Ontario (iGO) in 2022. A subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO), the market provides licensed operators with easy access to their target audience. Working on behalf of AGCO, iGO enforces applicable regulations while also giving iGaming companies an opportunity to influence future regulations.
An inside look at Canadian iGaming
The creation of iGO in April 2022 was a banner event for Canada's iGaming market, culminating in Ontario's emergence as one of the largest iGaming markets in North America. As mentioned, the IGO also completely displaced the unregulated market that existed prior to 2022, and Ontarians not only bet more but did so more frequently. By the end of March 2023, iGO reported that the regulated market delivered roughly C$35.6 billion in total wagers and C$1.4 billion in gaming revenue.
As of September 2023, iGO's market comprises 71 websites maintained by 47 operators. At that time, there were 943,000 active player accounts with an average monthly spend of C$191 per account. Casinos represented the most popular category for iGaming, with C$11.9 billion in wagers and C$407 million in revenue during the quarter ended September 30. Betting and pay-to-play poker brought in C$118 million and C$16 million in revenue during that time, respectively.
The market is in a good place and its future is similarly bright. In a presentation during the 2023 Canadian Gaming Summit, iGO executive director Martha Otton said by 2031, the iGaming market could support up to 22,000 full-time-equivalent jobs, C$4.7 billion in annual GDP and C$2.1 billion in annual government revenue.
iGaming market in Canada
Primed for rapid expansion, Canada's iGaming industry shows considerable promise, and we have profiled some of the players in the space below.
NorthStar Gaming Holdings (TSXV:BET)
With triple-digit growth in both wagers and revenue from February to September 2023, NorthStar can potentially become one of the most significant iGaming operators in Canada. In addition to leveraging artificial intelligence for personalized sports betting, the company leverages tier-1 partnerships with sports betting and technology providers such as Playtech and Kambi to ensure best-of-breed entertainment and betting experience for customers. Most recently, the company signed a strategic partnership with BettorView, an in-venue screen technology provider, to soon deliver NorthStar's sports betting services to consumers in restaurants and bars throughout Ontario.
Jackpot Digital (TSXV:JJ)
Positioning itself as an innovative and disruptive Electronic Table Games provider, Jackpot Digital manufactures digital touchscreens for multiplayer casino games such as blackjack, poker and baccarat. The company's flagship product, Jackpot Blitz, is a digital smart table designed to minimize costs while improving operator efficiency and flexibility.
Bet365
Bet365 is one of the top iGaming companies in the world, with a comprehensive portfolio that includes sports betting, poker and casino games. Known for its user-friendly platform and dedication to high-quality customer service, the company has maintained a foothold in Canada's iGaming market. The company's size and reputation make it well-suited to establish a dominant position in Ontario's hypercompetitive iGaming sector.
FansUnite Entertainment (TSX:FANS,OTCQB:FUNFF)
A technology-focused sports and entertainment company targeting iGaming, FansUnite recently sold its Chameleon betting platform to increase its focus on its affiliate vertical through its subsidiaries BettingHero and American Affiliate.
In the company's financial update released in December 2023, CEO Scott Burton reported a gross margin of 63 percent and adjusted EBITDA of $1.1 million for the first nine months of 2023, an increase of C$2.3 million year-over-year. The company also completed a C$3.04 million private placement, including a significant investment from Tekkorp Capital.
Investor takeaway
For investors interested in the iGaming industry, Canada is arguably one of the world's most promising markets. iGaming Ontario has redefined how iGaming companies engage with their audiences, establishing a safer, more efficient and more profitable source of revenue. With other provinces likely to soon follow suit, now may be an excellent time to start investing.
This INNSpired article is sponsored by NorthStar Gaming (TSXV:BET). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by NorthStar Gamingin order to help investors learn more about the company. NorthStar Gaming is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with NorthStar Gaming and seek advice from a qualified investment advisor.
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