NorthStar Gaming cuts jobs and slashes costs in push for profitability
Table of contents
- Canadian online betting operator NorthStar Gaming Holdings has announced ~C$3 million in annualised general and administrative cost savings as part of a 2026 restructuring plan.
- The company is reducing headcount, reducing reliance on advertising agencies, and renegotiating vendor contracts to improve its EBITDA profile.
- The full financial impact of the measures is expected to be reflected in its expense run rate from 2027.
Canadian online betting operator NorthStar Gaming Holdings Inc. is cutting jobs and rolling back spending across several business units as it works toward profitability on its NorthStar Bets platform.
The company disclosed the plan on February 23, outlining measures targeting approximately C$3 million in annualised general and administrative (G&A) savings for 2026.
The company trades on the TSX Venture Exchange under the symbol BET and on OTC Markets under the symbol NSBBF.
Jobs cuts and agencies dropped
The most direct impact of the restructuring falls on staffing and third-party relationships. NorthStar confirmed it is selectively reducing salaried personnel and contracted services where efficiency gains can be achieved without compromising service quality.
The company is also moving to reduce its reliance on external advertising agencies. It is renegotiating agency fees and reworking key vendor and services contracts as overall advertising spend is recalibrated downward.
Beyond headcount and agency fees, the restructuring targets content production costs. NorthStar is scaling back expenses tied to the production of its Sports Insights content and The Boost, two features linked to its platform’s editorial output. The company has confirmed these content cost reductions form part of the broader savings package.
The cost measures have largely been implemented. The full financial effect is expected to phase in across 2026, with the revised expense run rate anticipated to be fully reflected from 2027.
NorthStar has also acknowledged that it expects to record certain restructuring-related charges during the transition period, in line with applicable international financial reporting standards.
CEO signals deliberate shift
Corey Goodman, Interim Chief Executive Officer of NorthStar, commented:
“We are focused on taking deliberate, measured steps to position the Company for profitability,” Goodman said.
“The expected annualised G&A savings reflect measures that have largely been implemented. Building on these reductions, management is actively deploying additional efficiency and operating leverage initiatives across services, marketing spend, and cost of goods sold that are expected to materially enhance the Company’s EBITDA profile.”
Lender talks and liquidity
NorthStar acknowledged that managing liquidity and capital requirements remains a priority as the restructuring progresses. The company stated that its lender relationships and capital structure are central to its operating and financial planning.
Constructive discussions with its senior lender are ongoing. The company said the cost reduction measures are expected to strengthen its covenant position through 2026, providing some financial relief as it moves to a leaner operating structure.
Platform and market context
NorthStar Bets operates as a licensed online casino and sportsbook in Canada, targeting higher-stakes players with a premium positioning. The platform is built around its Sports Insights feature, which integrates betting guidance, statistics, and real-time scores for Canadian sports bettors.
The 2026 restructuring marks a deliberate pivot away from growth-led spending. Smaller operators across regulated markets are under increasing pressure to demonstrate a credible path to profitability as investor appetite for loss-making expansion narrows.
For NorthStar, the combination of headcount reductions, agency cuts, and content rationalisation represents its most public acknowledgement yet that the current cost structure is not sustainable.
Keep reading
Do you have a story worth sharing?
Send it over to our editors!
