Betsson to buy Rhino Entertainment Group’s B2C business in Canada
Rhino is well-positioned to expand into additional Canadian provinces
Betsson has agreed to acquire Rhino Entertainment Group’s B2C business licensed in Canada as well as a set of technology assets for its B2B operations for €64.5m.
The acquisition includes assets, licenses, personnel and operational capabilities related to Rhino’s B2C activities in Ontario and the rest of Canada. The target business currently serves Canadian customers and is well-positioned to expand into additional Canadian provinces as local regulatory frameworks continue to evolve.
In addition to the B2C assets, Betsson will acquire Rhino’s proprietary front-end and middleware technology. This technology will strengthen Betsson’s B2B offering and is expected to drive incremental licensing revenue within Betsson’s B2B business.
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 2025, the acquired assets generated a combined estimated €13.7m of earnings before interest, taxes, depreciation and amortization (EBITDA) on a proforma basis.
The total purchase price amounts to approximately €64.5m with an upfront payment of €51.25m at closing and a deferred payment of the remaining amount six months after closing. Betsson will finance the acquisition with existing cash resources.
Completion of the deal is expected to take place after applicable regulatory clearances in the second or third quarter of 2026. Gernandt & Danielsson Advokatbyrå acts as lead legal advisor to Betsson in connection with the transaction.
