NorthStar Gaming Reports 240% Growth for 2023: Financial Results Analysis

Date: 2024-04-30 Author: Alex Crawford Categories: EVENTS
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Fourth Quarter 2023: In-Depth Review

In the final quarter of 2023, NorthStar Gaming's revenue reached an impressive CA$6.5 million, up 103% from last year. Total wagering on Northstarbets.ca increased to C$213.3 million and gross gaming revenue reached C$7.6 million, an 85% increase over the previous year. Gross profit for the quarter was $2.5 million, an increase of 127%.

Fiscal Year 2023: Key Indicators

For the full year 2023, NorthStar's revenue grew 240% to C$19.4 million and gross profit increased 492% to C$7.1 million. Total wagers on Northstarbets.ca increased 251% to C$648.8 million, while gross gaming revenue increased 208% to C$22.5 million. Significant improvements in key performance indicators were also achieved during the year.

Management Comments

NorthStar Chairman and CEO Michael Moskowitz expressed satisfaction with the results, highlighting key highlights from the company's successful year. He noted revenue and customer growth in each quarter, as well as important strategic moves made to improve products and expand the target market.

The next step for NorthStar Gaming will be to continue to scale the business and realize operating leverage as revenue continues to grow faster than expenses. The company is expected to continue to demonstrate strong financial results and strong growth in the online gambling industry
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