NorthStar Gaming Now Publicly Traded as TSXV:BET Following Reverse Takeover is an independent gambling news and information service. has partnerships with some of the top legal and licensed gambling companies in the US. When you claim a bonus offer or promotion through a link on this site, may receive referral compensation from the gambling company. Although the relationships we have with gambling companies may influence the order in which we place companies on the site, all reviews, recommendations, and opinions are wholly our own. They are the recommendations from our authors and contributors who are avid casino players and sports fans themselves.

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Investors will shortly be able to purchase shares in Ontario’s homegrown online gambling operator NorthStar Gaming. The company announced on Mar. 3 that it had completed the reverse takeover process it was undergoing to become a publicly-traded corporation.

Technically speaking, the former NorthStar Gaming is now a subsidiary of another company, Baden Resources, which has now taken on its name. For practical purposes, however, all that has changed is that NorthStar will now trade on the TSX Venture Exchange. Previously, it had been under the joint ownership of Torstar Media and Playtech.

Baden shares formerly traded on the Canadian Stock Exchange. They will be delisted there and reappear on the TSXV under the new symbol $BET.

The shares don’t appear to be immediately available. However, NorthStar’s press release states that trading will begin this week.

About NorthStar and Baden

NorthStar Gaming arose as an attempt to capitalize on Ontario’s online gambling privatization plan by the media company Torstar. Ontario is Canada’s most populous province, and Torstar has a strong presence there, including ownership of the Toronto Star newspaper. The Star now has a sports-betting media partnership in place with NorthStar Bets, the company’s sportsbook.

International online gambling technology supplier Playtech then struck a deal to invest $12.25 million in the new brand and provide it with its platform.

For its part, Baden Resources was a Vancouver-based mineral exploration company. It had been investigating potential copper and gold deposits in Midway, British Columbia, before announcing its plan to become a corporate vehicle for NorthStar’s plans to go public.

In a reverse takeover, a smaller company issues new shares to acquire a much bigger one before taking on its identity. Effectively, the smaller company becomes a publicly-traded “wrapper” for the bigger one.

It can be a quicker and cheaper way for a company to go public than the more traditional initial public offering. In some ways, it’s similar to the special purpose acquisitions company plan that has been popular in the US online gambling space. The difference is that rather than the “wrapper” company being created for that sole purpose, the reverse takeover uses an existing company, often one that has fallen on hard times and is no longer doing business.

Notably, PokerStars chose this route in 2014, using another Canadian company, Amaya. In that case, however, the two were in related fields, as Amaya was a casino game developer. More importantly, Amaya’s executives stayed on because PokerStars needed a complete change in leadership to gain access to the US market after years of illegal activity there.

About the Author
Alex Weldon

Alex Weldon

Alex Weldon is the Casino News Managing Editor for Bonus. He’s a former semiprofessional poker player and has been writing about online gambling professionally since 2014. Prior to his current position, he was Managing Editor at Online Poker Report and, before that, the GameIntel Poker Update, a subscription newsletter for industry executives. Alex provides insightful content on the regulated online casino and poker industries, with an emphasis on legislation, regulation, responsible gambling and business strategy. His writing about poker has earned him multiple nominations for the American Poker Awards over the years.

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