Betsson’s Strategic Acquisition of Rhino Entertainment Group’s Canadian Operations
Betsson Acquires Rhino Entertainment Group’s Canadian Business
Swedish online gambling operator Betsson has confirmed its acquisition of Rhino Entertainment Group’s business-to-consumer operations in Canada, along with key technology assets related to its business-to-business services. The deal is valued at approximately EUR 64.5 million, which is around $74.3 million.
Details of the Acquisition and Business Scope
This transaction includes several entities within the Rhino Group that together hold the necessary licenses, assets, staff, and operational capabilities to support Rhino’s customer-facing activities throughout Canada. Currently serving Canadian players, the business is well-positioned to expand into other provinces as regulatory changes take place across the country.
Alongside the consumer division, Betsson will also acquire Rhino’s proprietary front-end and middleware technology. This technological infrastructure is expected to boost Betsson’s business-to-business platform, creating new opportunities for licensing revenue.
Founded in 2020, Rhino Entertainment Group operates seven global gambling brands, including Casino Days. Since obtaining a license from the Kahnawake Gaming Commission in 2022, Rhino has been offering services to Canadian customers through brands such as Big Boost Casino.
For 2025, Rhino’s combined assets are projected to deliver an EBITDA of about $15.9 million. The purchase involves an initial payment of roughly $59.5 million at closing, with the remainder payable six months later. Betsson plans to fund the acquisition using its available cash reserves. Earlier in the year, Betsson reported solid preliminary financial results for the fourth quarter of 2025, which included substantial revenues now partially attributed to the Rhino acquisition.
How This Acquisition Aligns with Betsson’s Growth Strategy
This acquisition aligns with Betsson’s dual approach to growth: expanding its direct consumer presence in regulated markets while enhancing its technology licensing capabilities in the B2B sector. Canada’s recently liberalized online gaming environment, especially in provinces like Ontario, has attracted numerous international operators following legislative reforms. Integrating Rhino’s teams, technology, and customer base will be vital for Betsson to strengthen its market position and growth trajectory.
In an interview earlier this year, Betsson’s CEO Pontus Lindwall emphasized the company’s focus on scaling opportunities while maintaining solid returns and resilience, as demonstrated by the company’s record revenues and profits in 2025, coupled with the launch of new markets. This positive outlook was reflected in a share price increase of over 6% during early trading on Nasdaq Stockholm at the time.
The acquisition is expected to finalize in the second or third quarter of 2026, subject to regulatory approvals as stated in Betsson’s official announcement.
