Entertainment
Swedish online gambling company Betsson has announced it will acquire Rhino Entertainment Group’s B2C business in Canada, as well as a set of technology assets for its B2B operations, for a total sum of EUR 64.5 million (about $74.3 million).
The acquisition encompasses multiple Rhino Group entities that collectively possess the assets, licenses, personnel, and operational capabilities supporting Rhino’s consumer-facing activities across Canada. The business currently serves Canadian customers and is well-positioned to expand into additional provinces as the country’s regulatory landscape evolves.
In addition to the B2C operations, Betsson will acquire Rhino’s proprietary front-end and middleware technology. The company expects this technology to enhance Betsson’s B2B offering and generate additional licensing revenue through its B2B platform business.
Rhino Entertainment Group is an online gambling operator founded in 2020. Led by CEO Ross Parkhill, it runs seven global brands, including Casino Days. The company has been serving Canadian customers since receiving a Kahnawake license in 2022, with Canadian-facing brands such as Big Boost Casino.
In 2025, Rhino’s assets generated an estimated combined EBITDA of about $15.9 million.
An initial payment of approximately $59.5 million will be made at closing, with the remaining balance due six months after completion. The transaction will be financed using Betsson’s existing cash resources. Earlier this year, Betsson revealed details about its Q4 finances for 2025, marking hundreds of millions of dollars in revenue, a significant part of which now goes to the Rhino deal.
Purchase Enables Bettson’s Strategy for Growth
The acquisition supports Betsson’s dual strategy of expanding its B2C presence in regulated markets while also growing its B2B technology licensing operations. Canada’s recently liberalized online gambling markets, including Ontario, have drawn a wide range of international operators following legislative reforms. Successfully integrating Rhino’s operational teams, technology platforms, and customer base into Betsson’s current infrastructure will be invaluable for further growth.
In an interview with iGB in January, Betsson CEO Pontus Lindwall noted that the company’s shareholders were focused on how it plans to scale its opportunities while maintaining the returns and resilience it established in 2025. He added that shareholders are also interested in identifying the next phase of growth.
Lindwall highlighted the company’s strong performance, including record revenues and profits, and the launch of new markets. At the time of writing of this article, this seems to be the case as the company’s share price climbed by more than 6% in early trading on Nasdaq Stockholm.
The Rhino deal is anticipated to close in the second or third quarter of 2026, pending receipt of all required regulatory approvals, according to Betsson’s announcement.
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Stefan Velikov