Playtech Expands Partnership with NorthStar in Ontario and Boosts Funding for Subsidiary
Playtech, a leading online gambling developer, has broadened its strategic collaboration between its subsidiaries, Playtech Software Limited, and Ontario-based NorthStar Gaming Holdings. As part of the extended partnership, Playtech has agreed to provide NorthStar with upfront short-term financing totaling $2.2 million, aimed at fueling the latter's initiatives.
The strategic marketing agreement, initially inked last June, focuses on accelerating NorthStar's player acquisition strategy in Ontario. The original agreement saw Playtech Software providing services worth $4 million, which NorthStar credits as a primary driver of growth in the Canadian province throughout 2023.
In an effort to further enhance its presence in Ontario, Playtech Software will now deliver additional marketing services under the expanded agreement, with a budget of up to $4 million allocated until October 31 of this year.
In conjunction with the expanded partnership, Playtech has also extended its existing software and services agreement with NorthStar for a duration of 10 years. The collaboration between Playtech and NorthStar dates back to December 2021, underscoring the longstanding and evolving relationship between the two entities.
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