Playtech, the global supplier of live dealer games and software for online casinos, has announced the extension of its strategic partnership with NorthStar Ontario, a subsidiary of NorthStar Gaming Holdings. The agreement includes the provision of 3 million Canadian dollars in short-term financing by Playtech Software Limited.
The original strategic marketing agreement, inked in June of the previous year, was designed to bolster NorthStar’s player acquisition strategy in Ontario. The initial agreement resulted in a significant contribution of services valued at 4 million dollars from Playtech Software, catalyzing NorthStar’s growth in the Canadian province throughout 2023.
Under the extended deal, Playtech will continue to provide marketing services in Ontario, valued at up to 4 million dollars, until October 31 of the current year. Playtech Software will be compensated through a share of revenue generated from the marketing initiatives it contributes to.
In addition to the extended marketing services, NorthStar has issued an unsecured, interest-bearing promissory note to Playtech, worth 3 million dollars. The note carries an interest rate of 8.0% per year and is repayable in arrears at maturity. Proceeds from the note will support NorthStar’s ongoing growth strategy and general corporate purposes.
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