Betsson Bolsters Portfolio with Strategic Acquisition of Rhino Entertainment's Canadian B2C and Core B2B Technology

Leading international betting and gaming operator, Betsson, has finalized an agreement to acquire Rhino Entertainment Group, a move set to significantly expand Betsson's operational footprint and technological infrastructure. The transaction, valued at an estimated €64.5 million, encompasses Rhino's business-to-consumer (B2C) operations within the Canadian market, alongside key technical assets from its business-to-business (B2B) division.

Specifically, Betsson will integrate Rhino Entertainment's front-end and middleware technology. This strategic procurement is aimed at bolstering Betsson's existing technical suite, providing a robust foundation for its B2C-facing services and enhancing its overall offering in competitive markets.

The financial framework of the deal stipulates an upfront cash payment of €52.25 million. The remaining balance of the €64.5 million consideration will be settled within six months following the official completion of the acquisition. The definitive closure of this agreement is anticipated during the second or third quarter of the current year, pending necessary regulatory clearances.

According to Betsson's official statements, this acquisition aligns seamlessly with its overarching strategy to foster shareholder value. The company expects the integration of Rhino Entertainment's assets to yield several benefits, including the generation of economies of scale, a strengthening of its profitability margins, and the expansion of growth opportunities across both its B2C and B2B segments. The investment is also seen as a direct commitment to developing existing and new B2C markets while simultaneously advancing its B2B ventures.

Founded in 2020, Rhino Entertainment operates a dual B2C and B2B model, boasting a portfolio of seven distinct brands, prominently featuring Casino Days, which enjoys a global reach. The company's assets have demonstrated sustained growth since inception, with projections indicating an EBITDA of €13.7 million for 2025. This growth trajectory is particularly noted given the anticipated expansion of Canada's iGaming market, presenting a lucrative environment for the acquired operations.

This latest acquisition underscores Betsson's proactive approach to global expansion, complementing its recent commercial and technological advancements, such as the launch of a new brand in Lithuania last year. The integration of Rhino's assets is poised to further solidify Betsson's position as a dominant force in the international gambling industry.