Swedish gambling firm Betsson has revealed it will acquire Rhino Entertainment‘s B2C department to consolidate its presence in North America.

Licensed in Canada, Rhino’s B2C portfolio includes a number of assets, licenses, staff and operational activities spread across Ontario and the rest of Canada..

There is also the prospect for Besson to expand into additional Canadian provinces as local regulations continue to evolve – namely in Alberta, which is expected to launch its regulated gambling market by this summer.

Valued at €64.5m, the deal will also see Betsson acquire a number of proprietary Rhino front-end and middleware technology, which would also help it strengthen its B2B offering.

The price represents around 4.7x of the €13.7m of earnings before interest, taxes, depreciation and amortisation (EBITDA) generated on a proforma basis by the target business in 2025.

With legal firm Gernandt and Danielsson Advokatbyrå acting as a legal advisor to Betsson, the deal is expected to be completed in the second or third quarter of 2026 after clearing regulatory approvals.

Betsson will put in an upfront payment of €51m at closing, with the remaining amount given as a deferred payment six months after closing. The acquisition will be financed with existing cash resources. Betsson AB reported cash and cash equivalents of €322.7m at the end of FY25.

In light of the FY25 report, Pontus Lindwall, CEO of Betsson AB, commented: “The investments made in recent years as well as our pipeline of projects for 2026 support our ambition to continue to generate long-term shareholder value.”

Betsson made the decision to entirely withdraw its B2C offering from the US in 2024 after soft launching its Betsafe brand in Colorado two years prior, which at the time the company told SBC was primarily to showcase its B2C capabilities to prospective B2B domestic clients.

However, the Swedish company maintained a B2B presence in Ontario, Canada, and the acquisition of the Rhino assets is a clear indication Betsson is there to stay in the long run.

Rumours have been circulating around the firm’s potential M&A activity this year – though Rhino Entertainment was not the subject of this initial speculation. 

Instead, reports surfaced that Betsson had been in talks with Yolo Group about a potential purchase of the Sportsbet.io sportsbook and BitCasino crypto casino, though nothing has materialised yet and talks have not been confirmed by either party.