Betsson has announced an agreement to acquire the licensed Canadian B2C operations of Rhino Entertainment Group, along with a range of B2B technology assets used by the operator.
The total transaction value is €64.5 million, representing approximately 4.7 times EV/EBITDA based on Rhino’s estimated financial performance for the 2025 financial year.
Betsson has agreed to purchase Rhino Technologies for a total cost of €51.3 million (US$54.6 million). The agreement includes an initial payment of €51.3 million, with the remaining balance payable as a deferred payment six months after the conclusion of the transaction. The financing source of the acquisition will be from Betsson’s current cash reserves.
In addition to acquiring the Rhino Technologies content library, Betsson will also receive Rhino’s proprietary front-end and middleware technology — which will become part of Betsson’s B2B product line. In addition to generating revenue through licensing arrangements with third parties, it is anticipated that this technology will create new revenue opportunities.
Betsson announced in a press release:
The transaction is consistent with Betsson’s strategy to generate shareholder value by investing in existing and new B2C markets and growing its B2B business. The acquisition is expected to add economies of scale, strengthen profitability and expand Betsson’s growth opportunities in its B2C and B2B businesses.
The acquisition is expected to close in either Q2 or Q3 of 2026, although completion remains subject to regulatory approvals.
Following the announcement, shares of Betsson rose by more than 6% in early trading on the Nasdaq Stockholm.
