Baden Resources and NorthStar Gaming have reached an accord that could result in Baden taking ownership of all of NorthStar. While the details are still under discussion, the basic concept involves Baden exchanging its own shares for all of NorthStar’s publicly held stock. This may necessitate a stock split by Baden to achieve the desired ratio.
Prior to finalization, both parties must concur on the definitive terms by June 27th, 2022, and obtain regulatory approval. As part of the arrangement, Baden also intends to delist from the Canadian Securities Exchange and list on the Toronto Stock Exchange Venture Exchange.
It’s important to note that this is merely an agreement in principle. Nothing is conclusive, and the possibility of the deal collapsing remains.
For those unfamiliar, NorthStar operates NorthStar Bets, a well-known online casino and sportsbook specifically designed for Canadians. They have been making significant strides in the burgeoning Ontario gaming market and are evidently aiming to strengthen their standing through this prospective merger.
A June 2022 agreement between NorthStar Gaming and Playtech will see the former utilize the latter’s IMS platform. This partnership will drive their internet casino, encompassing a live dealer component.
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