Betsson Secures €64.5m Acquisition of Rhino Entertainment to Accelerate Canadian Expansion and B2B Tech Capability

Betsson expands its Canadian B2C footprint and B2B tech stack via a €64.5m deal for Rhino Entertainment Group in March 2026.

By: AXL Media

Published: Mar 12, 2026, 11:06 AM EDT

Source: The information in this article was sourced from iGB

Strategic Consolidation in the Canadian Market

Betsson has announced a major move to solidify its position in North America through the acquisition of Rhino Entertainment Group’s Canadian business. The deal, valued at €64.5 million ($74.6 million), includes the transfer of operational capabilities, personnel, and holding licenses across Ontario and other provinces. This acquisition represents a logical progression for Betsson, which first entered the Ontario market in 2022 with its Betsafe brand. By absorbing Rhino’s established presence, Betsson aims to capture a larger share of Canada's rapidly evolving and liberalized online gambling sector.

Proprietary Technology and B2B Diversification

Beyond the consumer-facing brands, the acquisition is a strategic "tech-grab." Betsson will acquire Rhino’s proprietary front-end and middleware technology. This infrastructure will be integrated into Betsson’s in-house B2B offering, allowing the company to generate new revenue streams through technology licensing to other global operators. This dual-purpose strategy—expanding the B2C footprint while strengthening the B2B pipeline—is a core pillar of CEO Pontus Lindwall’s vision for the company's "next leg of growth" in 2026.

Portfolio Strength and Financial Projections

Rhino Entertainment currently operates a diverse portfolio of seven brands, including popular names like Casino Days and Lucky Spins. These brands have a strong presence in the Nordics and Estonia, and crucially, Rhino secured an Ontario license in 2023. Financially, Betsson has appraised the deal at an enterprise multiple of 4.7x EV/EBITDA based on 2025 pro forma earnings. The acquired assets are expected to contribute approximately €13.7 million in EBITDA during the 2025 financial year, providing an immediate accretive benefit to Betsson’s bottom line.