Betsson is set to deepen its presence in Canada with a new acquisition. The group has agreed to buy Rhino Entertainment Group’s Canadian-facing B2C operations together with a set of technology assets. The Betsson Rhino acquisition is valued at EUR 64.5 million and reflects the company’s push to grow both its consumer and B2B activities.

B2C business licensed in Canada and B2B technology

  • Betsson has signed an agreement to acquire Rhino Entertainment Group’s B2C business licensed in Canada. The deal includes several Rhino entities that hold licenses, operational infrastructure, personnel and other assets tied to the operator’s consumer activity. These operations currently serve customers mainly in Ontario, Canada’s regulated online gaming market.

  • Rhino already operates in Ontario and is positioned to enter additional provinces if regulation expands. For Betsson, acquiring an established setup in the market provides a quicker route to scale than building new operations from scratch.

  • Alongside the consumer business, the Betsson Rhino acquisition also includes Rhino’s proprietary front-end and middleware technology. This layer helps connect user-facing platforms with backend systems and third-party integrations. Betsson expects the technology to support its B2B offering and open up additional licensing opportunities with partners.

Transaction values the business at around EUR 64.5 million

  • From a financial perspective, the transaction values the business at around EUR 64.5 million. Based on proforma results for 2025, the price equals roughly 4.7 times EV/EBITDA. The acquired assets generated an estimated EUR 13.7 million in EBITDA during that year.

  • The payment structure includes both upfront and deferred components. Betsson will pay EUR 51.25 million at closing, with the remaining amount due six months later. The company said the transaction will be financed using its existing cash resources.

  • Completion of the Betsson Rhino acquisition still depends on regulatory approvals. Betsson expects the deal to close in the second or third quarter of 2026.

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