NorthStar Gaming Appoints Corey Goodman as Permanent CEO Amid CFO Resignation

NorthStar Gaming Holdings is seeking stability at the top as it navigates a complex period of financial reporting delays. The Canadian operator has officially appointed Corey Goodman as its permanent Chief Executive Officer. Goodman, who previously served as Chief Development Officer, has been acting as interim CEO since December, following the exit of founding CEO Michael Moskowitz. His permanent appointment is seen as a move to provide continuity while the company works through significant administrative challenges, including a prolonged suspension of its shares on the TSX Venture Exchange.

In a simultaneous move, the company announced the resignation of Chin Dhushenthen as Chief Financial Officer. Dhushenthen joined NorthStar in September 2021 and was instrumental in building the finance and compliance functions for the NorthStar Bets brand. Although he is stepping down from the executive role, he will remain engaged in an advisory capacity to ensure the completion of several outstanding audits. Ben Powell, a long-time member of the finance team who has been with the company since its inception, has been named interim CFO. Powell has historically played a key role in the operator's capital-raising activities.

Numbers and facts

The financial pressure on NorthStar Gaming is evident in its regulatory standing. Trading of NorthStar Gaming Holdings Inc. (TSXV:BET) shares has been halted since a cease trade order was issued on May 8. This suspension is a direct result of the company failing to file its required financial statements on time. To resolve this, the firm has engaged Davidson & Company to conduct audits for the fiscal years ending December 31, 2023, 2024, and 2025. The auditors plan to complete these three years concurrently, with an expected completion date later in 2026.

Beyond the CFO transition, NorthStar has also moved to bolster its compliance and accounting teams. Krisztina Kalla has been appointed as Vice President of Compliance, a role crucial for maintaining standards in the regulated Ontario market. The company has also brought in a chartered professional accountant on a consulting basis to assist the internal accounting function during the audit process. These measures are designed to address the "operational realignment" Goodman was tasked with when he first took the interim role.

"On behalf of the Board, I am pleased to confirm Mr. Goodman as NorthStar’s chief executive officer. Corey has brought focus and discipline to the company at a pivotal time, and the Board has full confidence in his leadership." - Dean MacDonald, Chair of NorthStar Gaming

Background

NorthStar Gaming is a prominent player in the Canadian iGaming landscape, operating the NorthStar Bets platform which features a casino and sportsbook. While initially focused solely on Ontario, the company has expressed ambitions to expand its footprint across Canada. The leadership vacuum began in late 2025 when Michael Moskowitz, who had served as CEO since October 2021, departed the company. Under his tenure, NorthStar reported a 4% year-on-year revenue increase to CA$6.9 million in the third quarter of 2025, although it faced a net loss of CA$4.1 million during the same period.

Goodman’s permanent appointment reflects the board's desire for a leader who understands the company’s cost structure and can drive profitability. As a co-founder, Goodman has extensive experience in capital markets and corporate restructuring, which will be vital as the company attempts to lift the cease trade order and return to active trading. The strengthening of the finance and compliance functions is a clear signal to stakeholders that the company is prioritizing transparency and regulatory adherence moving forward.

Why it matters for German players

For players in Germany, the developments at NorthStar Gaming currently have no direct impact on their gaming experience, as the operator does not hold a license from the Gemeinsame Glücksspielbehörde der Länder (GGL). Under the Interstate Treaty on Gambling 2021 (GlüStV 2021), only companies listed on the official whitelist are permitted to offer online slots or sports betting to German residents. These licensed operators must adhere to strict player protection rules, including the 1,000 Euro monthly deposit limit via LUGAS and the 1 Euro maximum bet per spin. NorthStar remains focused on the Canadian market, and German players are advised to stick to GGL-licensed sites to ensure legal protection and access to the OASIS self-exclusion system.

What it means for GGL-licensed casinos

The NorthStar situation serves as a cautionary tale for iGaming operators regarding the importance of financial reporting and audit compliance. In the German market, the GGL monitors the economic viability of license holders very closely. Any significant reporting delay or a suspension of stock trading would likely trigger an immediate investigation by German authorities, potentially jeopardizing the operator's license. Therefore, German market participants invest heavily in robust internal controls and stable leadership to avoid the administrative pitfalls currently facing NorthStar. Maintaining trust with both regulators and investors is a prerequisite for any operator looking to succeed in a highly regulated environment like Germany.