NorthStar Gaming Q2 revenue reaches $6.3m
The company reported significant growth for both the quarter and the first six months.
NorthStar Gaming Holdings has published its financial and business results for the second quarter and for the first half of the year. The Canadian company posted nearly $6.3m in gross gaming revenue (GGR) during the quarter.
Total Q2 GGR grew by 58% when compared to financial results from one year ago.
NorthStar Gaming collected 41% more in wagers year-over-year, with Q2 bets reaching more than $164m.
During Q2, the company’s gross margin reached $2.3m, reflecting a 42% increase when compared to the total during Q2 2023.
The company shared its financial results for the first half of the year in the report as well. During this year’s first six months, GGR reached $11.9m, up by 65% year-over-year.
Players year-to-date have placed $323.3m in bets, nearly double what the company collected compared to the first half of 2023.
Gross margin during 2024’s first six months grew by 77% year-over-year to reach $3.9m.
Company Chair and CEO Michael Moskowitz took a moment to further discuss the results for the quarter.
He commented, “We are building on our momentum with another record quarter highlighted by growth in excess of 60% for both revenue and gross margin.
“Importantly, top line growth continues to outpace expenses as we leverage our existing resources to scale the business efficiently, demonstrating the considerable upside in our business model.”
NorthStar Gaming recently celebrated its second anniversary for the NorthStar Bets platform. The company launched NorthStar Bets in the province of Ontario on May 9, 2022.
Since its debut, NorthStar Bets has collected more than $729m in wagers.
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