Betsson seals €64.5 million acquisition of Rhino Entertainment’s Canadian B2C business

Betsson AB has closed its acquisition of Rhino Entertainment Group’s B2C business in Canada, picking up proprietary technology assets in the process.

The deal, first announced in March, includes multiple Rhino Group entities holding assets, licences, personnel and operational capabilities for B2C activities in Ontario and the rest of Canada.

Betsson also takes ownership of Rhino’s proprietary front-end and middleware technology. The company expects that technology to strengthen its B2B offering and generate incremental licensing revenue.

“The acquisition includes several Rhino Group entities that collectively hold assets, licenses, personnel and operational capabilities related to Rhino’s B2C activities in Ontario and the rest of Canada,” Betsson said in a statement.

“This technology will strengthen Betsson’s B2B offering and is expected to drive incremental licensing revenue within Betsson’s B2B business,” the company added.

The total purchase price comes to approximately €64.5 million. Betsson has said the acquisition is expected to add economies of scale, strengthen profitability and expand growth opportunities across both its B2C and B2B divisions.

For Malta’s iGaming ecosystem, this transaction reinforces how locally headquartered operators are using M&A to deepen their footprint in regulated North American markets. The technology component also suggests Betsson is betting on its B2B platform arm as a separate revenue driver, not just a support function for its consumer brands.