Swedish iGaming operator Betsson AB has agreed to purchase the Canadian consumer-facing operations of Rhino Entertainment Group in a deal valued at €64.5 million (approximately $74.3 million).
The acquisition represents a strategic step for Betsson as it seeks to strengthen its position in North America’s fast-growing online gambling market.
Under the agreement, Betsson will take over Rhino’s business-to-consumer (B2C) activities serving Canadian players, along with a range of supporting technology assets that power the company’s gaming platforms.
The transaction also includes operational infrastructure, licences, and key personnel tied to Rhino’s Canadian business.
Betsson says the move aligns with its wider strategy to expand both direct-to-player operations and its business-to-business (B2B) technology services.
Founded in 2020, Rhino Entertainment Group entered the Canadian market in 2022 after obtaining a licence from the Kahnawake Gaming Commission, a long-standing authority overseeing online gaming operations. Since then, the company has launched several platforms targeting Canadian customers, including Big Boost Casino.
Analysts note that Canada has become an increasingly appealing destination for international gambling companies as regulation continues to evolve across the country’s provinces.
The launch of a regulated online gaming framework in Ontario has been particularly influential, attracting major operators from Europe and other regions.
Betsson believes Rhino’s existing presence could act as a launchpad for further expansion as more provinces evaluate regulatory models for online sports betting and casino gaming.
Rhino’s financial performance has also contributed to the appeal of the acquisition. According to figures cited by Betsson, the assets generated an estimated EBITDA of roughly $15.9 million in 2025.
The deal structure includes an initial payment of approximately $59.5 million at closing, with the remaining amount payable six months later. Betsson confirmed that the purchase will be fully financed using its existing cash reserves.
Beyond Rhino’s consumer operations, the transaction also covers the company’s proprietary front-end and middleware technology, which help manage the user interface and core functions of online gaming platforms.
Betsson expects these systems to enhance its B2B capabilities by enabling the company to license platform technology to other operators.
Chief executive Pontus Lindwall has previously highlighted the company’s focus on opportunities that support sustainable expansion while maintaining strong financial performance.
Lindwall has occasionally said investors were particularly interested in how the company planned to expand into new markets and scale its operations after a year of record revenues and profits.
The announcement was positively received by investors, with Betsson’s shares rising more than six percent in early trading on Nasdaq Stockholm following the news.
The acquisition is expected to close in the second or third quarter of 2026, subject to regulatory approvals. If completed, the deal would further strengthen Betsson’s presence in what many industry observers see as one of North America’s most promising regulated online gaming markets in the coming years.