Betsson Completes €64.5m Acquisition of Rhino Entertainment to Bolster Canadian Presence

Betsson has finalised its acquisition of Rhino Entertainment Group for €64.5 million, the company said, strengthening its position in the Canadian market as the Swedish operator continues to expand its North American footprint.

• Betsson has completed its €64.5 million acquisition of Rhino Entertainment Group, according to the company, in a deal that adds scale to its Canadian operations
• The acquisition follows Betsson's previously announced agreement to purchase Rhino, with the transaction now formally closed
• Rhino Entertainment operates in the Canadian market, a jurisdiction that has seen significant regulated online gambling growth in recent years
• The deal adds to Betsson's portfolio of international acquisitions as the company pursues expansion outside its core European markets
• Betsson's shares came under pressure earlier in 2025 amid regulatory costs and regional headwinds, making North American diversification a stated strategic priority

Betsson Closes Rhino Deal as Canada Becomes a Key Expansion Target

Betsson has announced the completion of its acquisition of Rhino Entertainment Group for €64.5 million, according to a report by SBC News. The Swedish listed operator said the transaction has now formally closed, adding Rhino's Canadian operations to its growing international portfolio.

The deal was previously announced and has now moved through to completion, the company said. Rhino Entertainment operates in Canada, a market that has attracted considerable operator interest since Ontario launched its regulated online gambling framework and other provinces have explored similar structures. Ontario sports betting and iGaming has recorded strong growth, with the province reporting record handle figures in recent periods.

Betsson has been active in pursuing international diversification as a counterweight to regulatory pressure and competitive intensity in some of its established European markets. The company's shares fell sharply following a period in which regulatory costs and a regional revenue slump weighed on profits, making markets outside Europe a more prominent part of its stated growth strategy.

The €64.5 million consideration places the Rhino deal among Betsson's more significant acquisitions in recent years. The company did not provide a detailed breakdown of Rhino's revenue or player base in the announcement as reported by SBC News.

Canadian Expansion Reflects a Broader Operator Trend Toward Regulated North American Markets

Betsson's move into Canada via Rhino is consistent with a wider pattern of European operators seeking footholds in newly regulated North American jurisdictions. Canada's market, led by Ontario, has demonstrated strong commercial potential, and operators that establish early positions in regulated provinces stand to benefit from channelisation dynamics as frameworks mature. The €64.5 million price tag signals that Betsson sees meaningful long-term value in Rhino's existing licences, brand, and customer relationships, though the absence of disclosed revenue figures makes an independent assessment of the multiple difficult.

The Strategic Logic Is Clear, but Execution Risk Remains

Acquiring an established local operator is generally a faster route to market than building from scratch, and Rhino's existing Canadian presence gives Betsson a regulated platform rather than a greenfield problem. The risk, as with any cross-border acquisition in a fragmented North American regulatory landscape, lies in integration and in navigating the varying provincial frameworks that govern online gambling in Canada. Whether Betsson can translate Rhino's local positioning into the kind of sustained growth that justifies the acquisition price will depend heavily on how it manages those operational complexities in the months ahead.