Betsson has completed the acquisition of Rhino Entertainment’s assets

Betsson has officially finalized the acquisition of Rhino Entertainment Group’s Canadian B2C business, along with the company’s proprietary technology. The transaction was valued at €64.5 million. The acquisition strengthens Betsson’s position in Ontario and adds new tools to its B2B division.

The Swedish Betsson Group has announced the completion of the acquisition of several Rhino Group entities, which held operating rights, licences, staff and assets in Ontario and other Canadian provinces.

Technology is moving into the B2B ecosystem

In addition to direct access to customers, Betsson has gained access to Rhino’s front-end and middleware. The company plans to integrate this technology into its own B2B ecosystem and thereby generate additional revenue from licensing the software to other operators.

Transaction structure and payment schedule

The total value of the transaction remains at the previously announced figure of €64.5 million, which is approximately £55.4 million. Of this amount, Betsson paid €51.25 million immediately upon completion of the transaction. The company will transfer the balance within six months.

News of the deal first emerged back in March. It forms part of Betsson’s overall strategy, which involves simultaneously developing direct sales in recently opened regulated markets and expanding its product range for other operators.

A sponsorship deal is also in the pipeline

The company has separately confirmed another piece of news this summer. Betsson Group is set to sign a sponsorship agreement with the Maltese football club Sliema Wanderers, with the brand’s logo set to appear on the front of the team’s shirts.

Ontario Consolidation Speeds Up

For the Ontario market, this acquisition signifies a consolidation of market players. Rhino Entertainment is exiting the local B2C market as a standalone brand, whilst its licences, team and customer base are being transferred to Betsson. At the same time, the Swedish company gains a ready-made technological infrastructure that does not need to be built from scratch, but can be immediately integrated into its existing B2B partnerships.

Deals of this type have become commonplace in the Canadian market over the past year. Following the opening of Ontario, and subsequently Alberta, major international operators prefer to acquire existing local businesses with licences rather than going through the process of obtaining licences from scratch. This speeds up market entry and reduces regulatory risks at the outset.