PLAYTECH PLC ANNOUNCES CHANGES TO HOLDINGS IN NORTHSTAR GAMING HOLDINGS INC.

TORONTO, Jan. 29, 2025 /CNW/ - Playtech plc ("Playtech") hereby announces that on January 24, 2025 it received 32,735,295 warrants to acquire common shares ("Common Shares") of NorthStar Gaming Holdings Inc. (the "Company"), exercisable at $0.055 per Common Share until January 24, 2030 (the "Warrants"), via private placement, as consideration for Playtech and certain of its affiliates guaranteeing certain indebtedness of the Company (the "Private Placement").

Immediately prior to the completion of the Private Placement, Playtech beneficially owned, directly or indirectly, or exercised control or direction over: (i) 53,071,428 Common Shares; (ii) 12,250,000 warrants to acquire Common Shares exercisable at a price of $0.85 per Common Share until March 3, 2028; (iii) 12,250,000 warrants to acquire Common Shares exercisable at a price of $0.90 per Common Share until March 3, 2028; (iv) 14,285,714 warrants to acquire Common Shares exercisable at a price of $0.36 per Common Share until October 31, 2028; (v) 14,285,714 warrants to acquire Common Shares exercisable at a price of $0.40 per Common Share until October 31, 2028; and (vi) an 8% unsecured convertible debenture of the Company with an outstanding principal amount of $5,428,095 and a maturity date of October 31, 2026, collectively representing approximately 25.8% of the issued and outstanding Common Shares on a non-diluted basis and approximately 47.9% on a partially diluted basis.

Immediately following the completion of the Private Placement, Playtech beneficially owned, directly or indirectly, or exercised control or direction over: (i) 53,071,428 Common Shares; (ii) 12,250,000 warrants to acquire Common Shares exercisable at a price of $0.85 per Common Share until March 3, 2028; (iii) 12,250,000 warrants to acquire Common Shares exercisable at a price of $0.90 per Common Share until March 3, 2028; (iv) 14,285,714 warrants to acquire Common Shares exercisable at a price of $0.36 per Common Share until October 31, 2028; (v) 14,285,714 warrants to acquire Common Shares exercisable at a price of $0.40 per Common Share until October 31, 2028; (vi) an 8% unsecured convertible debenture of the Company with an outstanding principal amount of $5,428,095 and a maturity date of October 31, 2026 and (vii) 32,735,295 Warrants, collectively representing approximately 25.8% of the issued and outstanding Common Shares on a non-diluted basis and approximately 53.1% on a partially diluted basis.

Playtech was issued the Warrants as consideration for Playtech and certain of its affiliates guaranteeing certain indebtedness of the Company as part of Playtech's continuing strategic investment in the Company. Playtech intends to review its investment in the Company on a continuing basis and may, from time to time and at any time, and depending on market and other conditions, acquire or dispose of the Company's equity or debt securities or instruments through open market transactions, private placements and other privately negotiated transactions, or otherwise (including through exercising rights provided to Playtech in the Investor Rights Agreement and in the Registration Rights Agreement, each dated December 19, 2022, between Playtech and the Company), in each case, depending on a number of factors, including general market and economic conditions and other factors and conditions Playtech deems appropriate.

Playtech is a company incorporated under the laws of the Isle of Man with a registered address of Ground Floor, St George's Court, Upper Church Street, Douglas, Isle of Man, IM1 1EE. Founded in 1999 with a listing on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling industry with over 7,900 employees across 20 countries. Playtech is a leading technology company in the gambling industry delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker.

An early warning report relating to this transaction will be filed on the System for Electronic Data Analysis and Retrieval + ("SEDAR+") under the Company's profile and can be viewed at www.sedarplus.com.  A copy of such report may also be obtained by contacting Sandeep Gandhi, Head of Investor Relations, Playtech, at [phone] or [email protected].

NorthStar's registered address is Suite 503 - 905 West Pender Street, Vancouver, B.C., V6C 1H2 and its principal place of business is located at 220 King St. West, Suite 200, Toronto, Ontario, M5H 1K4, Canada.

SOURCE Playtech plc