NorthStar Gaming said the final quarter of the Canadian fiscal year completed its best-ever year.

The company’s preliminary results released on Tuesday suggest that Northstar Bets‘ total wagers for Q4 will reach around $303 million, a 42% jump on Q4 2023-24. Gross gaming revenue is expected to rise 31.6% to around $10 million and the company’s gross margin is forecasted to increase by 76% to $4.4 million.

For the full year, wagers are expected to be up 51% to $980 million and revenue is expected to climb to $34 million, also a rise of 51%. Gross margin is anticipated to be up 76% for the year as well as the quarter.

“We capped off a great year with the best quarter in the company’s history,” said Chairman and CEO Michael Moskowitz. “Much of our focus in 2024 was on product innovation and simplifying the customer experience, and we are seeing the results through the growth of our business. Record gross margins demonstrate the ability of our model to deliver operating leverage as the business scales.”

NorthStar said it will file its full, audited Q4 and FY24 results by the end of April.

NorthStar CEO promises “aggressive growth”

Moskowitz said the company is excited to move forward in 2025 “with strong momentum at our backs.”

NorthStar announced it late January that it has entered into a credit agreement providing for loans of up to $43.4 million, which it expects to use to strengthen its balance sheet and enable it to accelerate its growth initiatives.

Moskowitz added that NorthStar has the funding in place to reach profitability “based on the current business platform.”

“We intend to pursue aggressive growth and introduce our premium iGaming platform to more Canadians, a strategy which we expect will continue to deliver strong year-over-year growth each quarter while maintaining effective control of costs,” he said.

At the company’s last update in early December, Moskowitz told investors that the company sees a great deal of profitability in its position as a smaller, niche operator in Canada.

NorthStar operates out of Toronto and offers one Ontario-facing website and another elsewhere in Canada that is owned and operated by the Conseil des Abénakis de Wôlinak and licensed by the Kahnawake Gaming Commission.

The company’s strong growth has been fueled by several recent developments, including further funding from technology partner Playtech last year and the launch of Sports Insights 2.0, its upgraded sports content vertical. NorthStar also doubled its casino game selection since the start of 2024.

As for what 2025 may bring, Moskowitz has been clear in the past that the company intends to be part of the regulated Alberta iGaming market, slated to open its doors in the second half of 2025.