Betsson has announced the acquisition of the Canadian B2C business of Rhino Entertainment, as well as Rhino’s proprietary technology, in order to improve its in-house B2B offering. The deal cost €64.5 million and includes Rhino’s front-end and middleware technology, assets, and personnel, as well as holding licenses and operational capabilities in Ontario and other Canadian
Betsson has announced the acquisition of the Canadian B2C business of Rhino Entertainment, as well as Rhino’s proprietary technology, in order to improve its in-house B2B offering.
The deal cost €64.5 million and includes Rhino’s front-end and middleware technology, assets, and personnel, as well as holding licenses and operational capabilities in Ontario and other Canadian provinces. Initially, a €51.25 million payment will be made at closing, and the remaining amount will be paid six months after completion.
Betsson announced:
“The transaction is consistent with Betsson’s strategy to generate shareholder value by investing in existing and new B2C markets and growing its B2B business. The acquisition is expected to add economies of scale, strengthen profitability, and expand Betsson’s growth opportunities in its B2C and B2B businesses.”
Gernandt & Danielsson Advokatbyrå is the legal counsel for Betsson, and the financing of the deal is supposed to come from the company’s existing cash resources, as it ended 2025 with €215.6 million in its cash reserves.
Rhino Entertainment was granted a license to operate in Ontario in 2023 and owns seven brands, such as Casino Days and Lucky Spins, in international markets like the Nordics and Estonia.
Betsson plans to add the technology into its own B2B offering in an effort to create more licensing revenue streams and support the company’s expansion not only into direct consumer markets but also digital gambling services. The acquisition aligns with Betsson’s dual strategy, and the effective implementation of Rhino’s operational teams, technology platforms, and customer base will realize Betsson’s expected benefits and revenue opportunities.