Betsson has successfully acquired Rhino Entertainment Group’s Canadian consumer business and technology assets for a sum of €64.5 million, making a significant enhancement of its operations in Canada’s regulated online gambling sector.
The deal was revealed back in March and involves the transfer of several aspects from Rhino to Betsson, which include Canadian licenses, client operations, personnel, along with various technology infrastructures.
According to the terms of the deal, Betsson paid €51.25 million straight after the transaction occurred and the remaining €13.25 million is payable within a half of the year. Betsson is covering the costs of the acquisition through its cash reserves.
Rhino’s Canadian business has reportedly generated around €13.7 million in pro forma EBITDA in 2025, which means that the transaction could be valued at about 4.7x the value of the EBITDA.
For Betsson this acquisition is a chance to enter the market of Canada instantly, without any need to start a new operation. Apart from its consumer business, Betsson also gets technology that could be licensed to other corporations operating in online gaming field in the B2B segment.
The company believes that this platform will allow for receiving some extra revenue from licensing as well as increasing profitability.