Acquisition expands Betsson’s Canadian operations, adding the CasinoDays brand to its Betsafe brand in Ontario
Betsson has completed its acquisition of Rhino Entertainment Group’s customer-facing business in Canada, as well as a set of B2B technology assets.
Rhino had announced in March that it was divesting its entire B2C operations, with Betsson acquiring assets, licenses, personnel and operational capabilities related to the company’s B2C activities in Ontario and the rest of Canada.
In addition to the B2C assets, Betsson has acquired Rhino’s proprietary front-end and middleware technology, which will strengthen Betsson’s B2B offering and is expected to drive incremental licensing revenue within Betsson’s B2B business.
As per the initial agreement in March, Betsson paid €64.5 million to acquire Rhino’s Canadian assets, comprising an upfront payment of €51.25 million and a deferred payment of the remaining amount six months after closing.
During 2025, the acquired assets generated a combined estimated pro forma EBITDA of €13.7 million.
“Today marks an important milestone for everyone at Rhino Entertainment as we officially complete the acquisition of various entities within our group, by Betsson Group,” said Rhino Entertainment in a statement on LinkedIn. “This achievement is the result of months of dedication, collaboration and hard work.
“A heartfelt thank you to our incredible Rhino team, the teams at Betsson Group, and all of our external advisers and partners who worked tirelessly to make this happen. We’re proud of what we’ve built, grateful to everyone who contributed to this journey, and excited for what comes next.”
Betsson currently operates its Betsafe brand in Ontario, while Rhino operates the CasinoDays brand, which is also licensed in Alberta.
Rhino’s remaining B2C business has been sold to Alta Group, although the company has yet to publicly comment on the transaction.
Shares in Betsson AB (STO:BETS-B) were trading 0.43 per cent lower at SEK91.85 per share in Stockholm Tuesday morning.