NorthStar Gaming confirms permanent CFO alongside 63% Q1 revenue jump
Canadian firm hands interim finance chief Chin Dhushenthen a permanent position while actives soar in first three months of the year
NorthStar Gaming has confirmed the permanent appointment of interim CFO Chin Dhushenthen alongside a 63% leap in Q1 revenue.
Dhushenthen has held the title of interim CFO at the Canadian firm since November, when he was drafted in to replace the outgoing Jennifer Barber.
Dhushenthen, who was serving as VP of finance and compliance at the time, joined NorthStar in September 2021.
Speaking on the permanent appointment, NorthStar Gaming CEO Michael Moskowitz said: “On behalf of the board of directors, I congratulate Chin on his appointment as chief financial officer.
“Chin has demonstrated strong leadership of the finance team and excellent knowledge of our compliance and financial reporting systems. I look forward to his continued contributions.”
Elsewhere, the operator has reported a revenue increase of 63% to C$5.9m for Q1 2024, up from the C$3.6m recorded in Q1 2023.
Total handle on Northstarbets.ca hit C$218m in Q1, a 56% year-on-year (YOY) leap from the C$140.1m in the same period in 2023.
The firm also noted a 42% leap in active players, coupled with a 9% in CPA, and a 54% jump in estimated 12-month player values.
NorthStar also launched its VIP Elite program during the quarter while securing a further C$3m in short-term financing from Playtech.
On the group’s financial performance, Moskowitz said: “Our team is making regular improvements to our service offering, such as the recent launch of a VIP Elite strategy aimed at the most active players who drive a meaningful share of our results.
“We remain focused on unlocking value for our stakeholders and are excited about the opportunities ahead of us in 2024.”
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.