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On the morning of March 12, 2026, Swedish gaming giant Betsson AB announced a €64.5 million ($74.3 million USD) deal with Rhino Entertainment Group, whereby Betsson AB acquired Rhino’s Canadian B2C operations and key B2B technology assets. The deal marks a significant escalation in Betsson’s strategy to capitalize on the growing Canadian iGaming market.
The acquisition targets a high-growth portfolio that includes popular brands such as Casino Days, Big Boost, and Lucky Spins. While Casino Days currently operates within Ontario’s regulated framework, the other brands hold licenses through the Kahnawake Gaming Commission, giving Betsson a diversified foothold across both provincial and First Nations-regulated territories.
The move also gives Betsson more exposure to potential players in the Alberta online casino space — a market that’s expected to go live this Spring/Summer.
Strategic Synergy and Tech Integration
The move isn’t just about player acquisition. Betsson is also absorbing Rhino’s proprietary front-end and middleware technology. According to Betsson CEO Pontus Lindwall, the integration of these assets is expected to drive incremental licensing revenue and provide the “economies of scale” necessary to strengthen overall profitability.
“The target business currently serves Canadian customers and is well-positioned to expand into additional Canadian provinces as local regulatory frameworks continue to evolve,” the company stated.
Eyes on Alberta
The timing of the deal is meticulously aligned with the Canadian market’s expansion. While Betsson already operates its Betsafe brand in Ontario, this acquisition positions the company perfectly for the highly anticipated Alberta online casino market.
There is currently no cap on how many operators can go live in Alberta, though estimates suggest 10 to 20 major operators will be ready to go on Day One.
Financial Terms
The financial health of Betsson’s acquired assets remains robust, having generated €13.7 million in EBITDA during 2025. The payment structure is broken down as follows:
- Upfront Payment: €51.25 million ($58.8 million) at closing.
- Deferred Payment: The remaining balance (€13.25 million) to be paid six months post-closing.
The transaction is expected to officially close in Q2 or Q3 of 2026, pending customary regulatory approvals.
