Betsson Expands Canadian Presence With Rhino Entertainment Acquisition

Details of the Agreement

Betsson confirmed plans to acquire Rhino’s Canadian consumer business and related assets. The agreement includes technology systems, operational licences, and key staff. Those assets support Rhino’s casinos and services for Canadian users.

Several licences cover operations in Ontario — Canada’s largest regulated online gambling market. The province has become a key area for international operators. Nevertheless, regulators must still approve the deal before it closes.

What Betsson Gains From the Deal

The purchase offers more than access to new users. Rhino developed technology used to run its casinos and manage operations. Betsson plans to add those systems to its internal technology division.

That unit licenses software to other operators — which could create new revenue streams. Hence, the deal may support both consumer growth and technology services. Executives believe the added systems may strengthen Betsson’s overall operations.

Betsson’s Growing Presence in Ontario

Betsson first entered Ontario in 2022 through its brand Betsafe. The province opened its regulated online gambling market and attracted many global operators.

Rhino also received a licence in Ontario in 2023. This approval allowed the company to operate legally in the province.

The group runs several brands worldwide, including Casino Days and Lucky Spins. These casinos serve players across Europe and other markets. Consequently, Betsson may gain both technology and experienced teams through the acquisition.

Financial Structure of the Acquisition

Betsson valued the transaction at about 4.7 times EV/EBITDA based on projections. The company expects the acquired assets to generate around €13.7 million in EBITDA during 2025.

Payment will take place in two stages — €51.25 million at closing. The remaining amount will be paid six months later. Betsson plans to fund the purchase using its existing cash reserves.

At the end of 2025, the company reported about €215.6 million in available cash. Subsequently, analysts may watch how the new assets affect company earnings.

Integration Will Shape the Outcome

Regulators may approve the transaction during the second or third quarter of 2026. After approval, Betsson will integrate Rhino’s technology, staff, and operations.

This process may decide how successful the acquisition becomes. Beyond Canada, the deal reflects Betsson’s wider strategy — expanding in regulated markets while building its technology business. If the integration goes well, Canada could become an important growth market for Betsson.