For the third time this year, NorthStar Gaming has obtained $3.5 million in short-term funding from Playtech. The money will go toward supporting NorthStar’s basic business operations and continuous expansion plans.
Chairman and CEO Michael Moskowitz emphasized the importance of the funding, stating, “This injection of capital will support our growth as we continue to deliver improved financial performance, evidenced most recently in our third quarter 2024 results.”
The funding is due on April 25, 2025, and has an annual interest rate of 8%. However, if NorthStar secures at least $10 million through further financing deals, repayment might happen sooner.
With this most recent round, NorthStar owes Playtech a total of $9.5 million. Playtech also provided the prior short-term financings on April 25 and September 13, 2024.
Ontario Blackjack Championship Draws Attention
In addition to its financial strategies, NorthStar Gaming has concentrated on increasing player involvement. The firm started an online Blackjack Championship on October 21 that was only open to lawful residents of Ontario who were at least 19 years old.
Notably, all eligible players can participate in the competition because NorthStar is not charging registration fees. A $100,000 grand prize will be up for grabs, further solidifying NorthStar’s dedication to creativity and client interaction.
This event demonstrates the company’s attempts to establish a solid rapport with its user base and distinguish out in Ontario’s cutthroat online gaming market.
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