Betsson Completes $74 Million Rhino Entertainment Canada Deal

Betsson has completed its €64.5 million, or about $74.3 million, purchase of Rhino Entertainment Group assets, giving the operator an established position in Ontario and new technology for its B2B division.

Good to Know

• Betsson paid €51.25 million at completion.
• A further €13.25 million falls due after six months.
• The acquired business produced €13.7 million in pro forma EBITDA during 2025.

Betsson Buys an Operating Canada Platform

Rather than create a Canadian operation from the ground up, Betsson now controls Rhino Entertainment licences, staff, systems and consumer assets.

The deal also includes front-end and middleware technology previously used in Rhino Entertainment B2B operations. Betsson can license those tools to other gambling operators, adding revenue beyond direct casino and sportsbook activity.

Betsson funded the purchase with existing cash. Based on 2025 pro forma EBITDA, the €64.5 million price equals about 4.7 times enterprise value to EBITDA.

Management expects the added scale to lower operating costs and improve profit across both B2C and B2B operations. The technology also gives Betsson another route into markets where it may prefer to supply platforms rather than run a consumer brand.

Ontario Access Comes as Canada Opens Further

The acquired business already holds approval in Ontario, so Betsson gains access to the largest open commercial iGaming market in Canada without waiting through a fresh launch process.

Ontario listed 48 operators and 82 approved gaming websites as of July 22, 2026. The province opened its competitive market in April 2022 and remains a key entry point for international operators.

Alberta added another route in July 2026 when it became the second Canadian province to allow private online casino and sports betting operators. The province estimated that about 70% of online play previously went to operators outside its regulated system.

Betsson can now use the acquired Canadian team and platform to assess Alberta and any other provinces that adopt similar models.

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