TORONTO – NorthStar Gaming Holdings Inc. has been hit with a failure‑to‑file cease trade order after the Ontario Securities Commission halted trading of the company’s shares over delayed financial disclosures.
The OSC said NorthStar failed to file its audited 2025 annual financial statements, accompanying management discussion and analysis, and required executive certifications. The order freezes all trading of the company’s securities in Canada.
NorthStar said its independent auditor withdrew its audit report after raising concerns about controls tied to a key vendor’s player account management software. The company said it disagreed with the auditor’s assessment and is working with the vendor to verify data integrity. Regulators rejected NorthStar’s request for a management cease trade order, saying they were not satisfied the issues could be resolved quickly.
The company also postponed its annual general meeting, previously scheduled for May 25.
NorthStar’s online casino and sportsbook, NorthStar Bets, continues to operate normally. The OSC order does not affect the company’s igaming platform, which launched in 2022 after NorthStar secured its Ontario license.
The company said it intends to resolve the audit matter, file the required statements, and apply to have the cease trade order lifted.
NorthStar announced leadership changes in December, when former CEO Michael Moskowitz departed and Corey Goodman was appointed interim chief executive. In March, the company outlined strategic priorities focused on cost discipline, capital efficiency and improving profitability.
“We are focused on taking deliberate, measured steps to position the company for profitability,” Goodman said at the time, citing expected annualized savings in general and administrative expenses and additional efficiency initiatives across operations, marketing and cost of goods sold. He said targeted product investments are also underway to improve customer retention and stabilize revenue.
