A Canadian legal sports betting and casino company is changing leadership.
NorthStar Gaming has announced that CFO Jennifer Barber is resigning from the company after its launch of wagering in Ontario last year. Barber, who will leave her position on Dec. 1, will be pursuing a new opportunity and will be replaced by vice president of finance and compliance Chin Dhushenthen. The executive will take over as interim CFO after joining NorthStar in 2021.
"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."
- NorthStar CEO Michael Moskowitz
"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 NorthStar CEO Michael Moskowitz in a statement. "She played a key role in our public listing process, the Slapshot Media acquisition, and the establishment of our financial reporting functions.”
NorthStar expanded its reach during Barber’s time at the company following the purchase of iGaming marketing services company Slapshot Media in May 2023 for roughly $1.3 million. The acquisition broadened NorthStar’s access to jurisdictions across the Canadian gaming market.
Last month, the company secured licenses to offer services in every Canadian province and territory. The expansion would provide access to a population of nearly 40 million people. NorthStar plans to launch an online sportsbook, which would include real-time sports news.
Investor interest
NorthStar’s growth has drawn the interest of investors.
Earlier this month, the company closed a $10.3 million strategic investment round from gambling technology company Playtech. The fresh capital will support NorthStar’s expansion across Canada and will also help the company’s general working capital. Playtech’s investment came after NorthStar stated it needed financing support to fund its business over the next year.
Playtech and NorthStar are familiar partners. In February 2023, NorthStar received $12.25 million from Playtech in exchange for a convertible debenture. As a result of the transactions, Playtech has around 27.5% of NorthStar’s outstanding common shares on a non-diluted basis.
Playtech can nominate up to four NorthStar board members with its ownership stake.
