Betsson has agreed to acquire Rhino Entertainment Group’s B2C Canadian-licensed business and technology assets in a deal worth €64.5m.
The transaction represents a multiple of around 4.7x enterprise to EBITDA, based on the pro forma performance for Rhino Entertainment for 2025.
Rhino Entertainment’s Canadian businesses include flagship brand CasinoDays, launched in Ontario in January 2023, as well as Big Boost Casino and LuckySpins.
Alongside the B2C businesses, Betsson has also snapped up proprietary frontend and middleware technology, which the operator says will strengthen its B2B offering and drive “incremental licensing revenue” within the division.
A company statement read: “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.”
In a LinkedIn post, Rhino Entertainment said: “Both buyers recognise Rhino as a strong, profitable, and fast-growing business that aligns closely with their strategic direction and long-term vision.
“For Rhino, this transaction unlocks significant value from the B2C business we have built while allowing us to sharpen our focus on the next phase of growth and value creation.
“Building Rhino has been an incredible journey. A big thank you to the team, partners, and investors who helped create such a strong and scalable company.”
The deal is expected to be completed by Q3 2026, with Betsson paying €51.25m up front, with the remainder paid six months after closing. The transaction will be financed with existing cash resources.
Gernandt & Danielsson Advokatbyrå acted as Betsson’s legal adviser during the deal.
Outside of Canada, Rhino Entertainment operates brands in Norway, Estonia and Finland, launching Paratiisi in the Nordic country in 2024.
Other brands include Buusti Kasino, BigBaazi, Big Boost Raketti and Rocket Riches.
Betsson’s acquisition of Rhino Entertainment’s Canadian assets comes two years after the Stockholm-listed firm pulled its US-facing brand Betsafe from Colorado, having launched in 2022.
The company holds gaming licences in several countries across Europe, Africa, North America and South America, with recent moves including the launch of its sports betting Betsson brand in Lithuania and joining the regulated Brazil market last year.
The Rhino deal arrives weeks after reports surfaced Betsson was in talks with Yolo Group to purchase its crypto-first brands Sportsbet.io and Bitcasino.io.
The operator reported last month that Q4 2025 EBITDA fell 20% year on year (YoY) to €69m, as revenue fell 1% YoY to €306.8m.
On the earnings call, CEO Pontus Lindwall said Betsson was “entering 2026 with a number of activities that provide good conditions for growth”.
“The investments made in recent years, as well as our pipeline of projects for 2026, support our ambition to continue to generate long-term shareholder value,” he added.
The post Betsson acquires Rhino Entertainment’s B2C Canadian-licensed brands for €64.5m first appeared on EGR Intel.
Swoop for operator behind brands including CasinoDays, LuckySpins and Big Boost Casino represents a 4.7x EV to EBITDA multiple, as B2B tech assets also snapped up in deal
The post Betsson acquires Rhino Entertainment’s B2C Canadian-licensed brands for €64.5m first appeared on EGR Intel.