NorthStar Gaming has confirmed job cuts as it begins a restructuring process designed to reset the business over the coming year.
NorthStar Gaming has confirmed job cuts as it begins a restructuring process designed to reset the business over the coming year.
The focus now is to achieve profitability in 2026. This marks a deliberate move away from the company’s previous push for rapid expansion.
In a statement released 24 February, NorthStar outlined a plan built on tighter capital allocation, firmer cost controls and a rethink of how returns are evaluated.
Part of the plan includes “selectively reducing salaried personnel and contracted services where efficiencies can be achieved and service levels can be maintained.”
Management indicated that spending will face closer scrutiny going forward, with capital directed only where performance can justify it.
The company said its primary commercial focus remains NorthStar Bets, its online sportsbook and casino platform.
Rather than launching new verticals, leadership intends to refine the existing product, citing its design, service model and domestic branding as competitive attributes within Canada’s regulated market.
Product upgrades are in the pipeline, focused on usability and back-end performance. The stated goal is straightforward: keep players active longer and strengthen retention over time.
Interim CEO Corey Goodman told analysts success will not be measured by short-lived acquisition surges. The emphasis, instead, will be on steady, durable revenue as the primary indicator of progress.
As part of the restructuring, NorthStar has reduced overhead within general and administrative functions.
The company expects these actions to generate roughly CA$3m in annualised savings, with the majority of the financial benefit materialising during 2026.
Marketing outlays are being put under a sharper lens. Executives are trimming optional ad buys, reopening supplier agreements and scaling back reliance on outside agencies in a broader effort to rein in costs.
A measured approach to restructuring
Goodman characterised the shift as measured rather than abrupt.
He said most projected administrative savings are already in place, adding that additional efficiencies across services, promotions and cost of goods sold should contribute to EBITDA gains.
Goodman added that investment has not been halted across the board. For example, targeted spending on product development will continue. This will occur particularly where management believes it can stabilise retention patterns and moderate revenue fluctuations.
The company is also scaling back expenditure related to Sports Insights content and The Boost. Sports Insights provides expert analysis and stats; The Boost is an external site hosting the content.
These adjustments form part of a wider review of content output and associated production costs.
NorthStar expects the cumulative effect of workforce reductions, marketing adjustments and content cutbacks to strengthen operating performance as 2026 progresses.
Some transition-related cash outflows will continue in the near term as legacy arrangements are wound down.
A revised expense base is projected to be fully reflected from 2027. The company said restructuring charges will be recognised in line with applicable international financial reporting standards.
Goodman confirmed that liquidity remains under active review throughout the transition.
NorthStar added that its financing structure and lender relationships remain central considerations, with ongoing discussions aimed at reinforcing covenant compliance during 2026.
Leadership changes preceded the overhaul. Last December, Michael Moskowitz stepped down from his roles as CEO and board chair.
Goodman, then the company’s chief development officer and general counsel, was appointed interim CEO. Director Dean MacDonald assumed the role of chair.