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Partnership strategically positions NorthStar to reach consumers in restaurants and bars across Ontario

NorthStar Gaming Inc. (TSXV: BET) is proud to announce it has entered a partnership agreement with BettorView that will enable NorthStar to engage with consumers in restaurants and bars across Ontario. The partnership provides NorthStar with the opportunity to further expand player acquisition across both sports wagering and online casino in a frictionless and convenient manner.

Strong year-over-year performance sets the stage for further growth

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar" or the "Company") today released its financial results for the three- and nine-month periods ended September 30, 2023. All dollar figures are quoted in Canadian dollars.

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar", or the "Company") today announced that Chief Financial Officer Jennifer Barber will resign from the Company effective December 1, 2023 to pursue another opportunity. At that time, Chin Dhushenthen, currently the Company's Vice President, Finance and Compliance, will assume the role of Interim CFO.

"On behalf of the Board of Directors, I would like to thank Jennifer for her contributions at an important time in our Company's development," said Michael Moskowitz, Chair and CEO of NorthStar Gaming. "She played a key role in our public listing process, the Slapshot Media acquisition and the establishment of our financial reporting functions. We wish Jennifer the best as she moves into a financial leadership role in a new sector."

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar" or the "Company") today announces that it has closed its previously announced private placement financing of approximately $10.3 million, consisting of common shares, warrants and convertible debentures (the "Offering"). All dollar figures are quoted in Canadian dollars.

Pursuant to the Offering, NorthStar has issued 29,528,458 units (the "Units") at a price of $0.175 per Unit, with each Unit comprised of one common share of the Company (a "Common Share"), one half warrant to acquire Common Shares exercisable at $0.36 per full warrant (each such whole warrant an "A Warrant"), and a further half warrant to acquire Common Shares exercisable at $0.40 per full warrant (each such whole warrant a "B Warrant"), in each case for a period of five years. In addition, the Company has issued three-year, 8% unsecured convertible debentures ("Convertible Debentures") in the aggregate principal amount of approximately $5.2 million, converting into Common Shares at $0.20 per share with interest payable-in-kind. Investors in the Offering include Playtech plc ("Playtech"), a global leader in gambling technology that is a supplier of software and services to, and already a significant investor in, the Company, as well as members of the Company's senior management team. All securities issued pursuant to the Offering are legended and restricted from trading until March 1, 2024.

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar" or the "Company") today announced that it has received a decision from the Ontario Securities Commission ("OSC") to permit the Company to obtain shareholder approval for its proposed $10.3 million private placement financing with Playtech plc and certain insiders of the Company (the "Transaction") by way of written consent.

As previously disclosed, closing of the Transaction requires shareholder approval pursuant to MI 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") due to the participation of Playtech, an existing investor in the Company, as well as members of the Company's senior management team. With the waiver obtained from the OSC, the Company is exempt from the requirement to hold a shareholders' meeting to approve the Transaction and will instead seek to obtain written approval from holders of a majority of the common shares (excluding Playtech and management) in accordance with the OSC's decision.

NorthStarBets.com site set to go live across the country

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar", or the "Company") is pleased to announce that its online casino and sportsbook will soon be available across Canada with the launch of NorthStarBets.com in the coming weeks. Debuting in Ontario in May 2022, the NorthStar Bets gaming platform will go live in every Canadian province and territory.

"We are thrilled to take this groundbreaking step and become a truly national brand. As a Canadian company, we are confident we understand local consumers better than the large international competitors and that we offer a premium experience that best meets their needs," said Michael Moskowitz, Chair and CEO of NorthStar Gaming. "We expect the Canada-wide launch to be an important catalyst that drives growth in our customer base and revenues for years to come."

"That's a Win"

NorthStar has begun a multi-channel promotional campaign to create awareness of the brand among Canadians. With the tagline "That's a Win," the campaign emphasizes the premium gaming experience delivered by NorthStarBets.com. In addition to national advertising and social media, consumers can expect to see in-market promotions over the next two months built around major events across various regions of the country.

NorthStar Gaming Announces Plans to Launch Betting Platform Canada-Wide

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Premium gaming experience

The NorthStar Bets brand promise is to deliver a premium gaming experience that is differentiated from alternatives in several important respects. Real-time sports news, statistics, analysis and proprietary editorial content is integrated directly in the NorthStar betting environment. Personalized customer service is designed to achieve rapid resolution of any issues. The platform is built on best-of-breed gaming content and technology from leading global providers. Most recently, the Company announced the integration of Artificial Intelligence capabilities that will help tailor the experience to the specific preferences of individual users.

Key strategic milestone

The national launch is expected to significantly expand NorthStar's addressable market and accelerate its growth. The Canadian online sports betting and iGaming market is estimated to reach $8.5 billion by 2026, and more than 60% of the market is outside Ontario.¹ A growing customer base will leverage the Company's investments in highly scalable infrastructure, human resources, proprietary content and marketing. Furthermore, building the brand and customer base across the country will help ensure NorthStar is well positioned as provinces establish their regulatory frameworks.

NorthStarBets.com will be offered through a wholly-owned subsidiary of the Company² acquired earlier this year with the purchase of Slapshot Media Inc. as the first step towards national expansion.

NorthStar customers in Ontario will continue to access the platform through the existing NorthStarBets.ca website.

For more information on NorthStar Gaming, please visit www.northstargaming.ca.

About NorthStar Gaming
NorthStar proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games. NorthStar also provides managed services to Spreads.ca an iGaming site owned and operated by the Abenaki Council of Wolinak.

A Canadian company, NorthStar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. 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 nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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: financial guidance for 2023, expected performance of the Company's business, expansion into new markets and future growth opportunities and expected benefits of transactions. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing readers 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. 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; and the ability of the Company to implement its business strategies. NorthStar believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Information contained in forward-looking statements in this communication are provided as of the date hereof and NorthStar disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws.

For further information:
NorthStar Gaming
Ben Powell
647 532 3948
investorrelations@northstargaming.ca