Swedish gaming operator Betsson is set to significantly expand its cross-Canada online gaming portfolio and its regulated iGaming business in Ontario by acquiring several brands already active in the country.
The company announced on Thursday that it has agreed to buy the Canadian B2C assets of Rhino Entertainment Group for approximately C$100m, including the Ontario-licensed online casino platform Casino Days.
As well as Rhino’s B2C business in Canada, Betsson will acquire Rhino’s proprietary front-end and middleware technology assets, which it expects to strengthen its B2B offering and drive incremental licensing revenue.
The total value of the deal is €64.5m, equivalent to around C$101m.
Two Ontario iGaming brands, eyes on Alberta?
Through the deal, Betsson also takes ownership of other Canadian-facing Rhino brands LuckySpins and Big Boost casino. Those two sites do not accept players in Ontario but are available elsewhere in Canada underKahnawake Gaming Commission licenses.
In Ontario specifically, Betsson will now have a two-pronged B2C approach, as it has offered the Alcohol and Gaming Commission of Ontario-licensed Betsafe brand in the province since 2023 via a subsidiary.
Betsson said the Rhino business acquisition positions it well to expand into additional Canadian provinces as local regulatory frameworks continue to evolve. Alberta is expected to launch its own regulated iGaming market in mid-2026.
The company forecasted that the acquisition, which it anticipates will close in Q2 or Q3 2026, will help it scale up in Canada and generate an estimated €13.7 million (C$21.5m) in adjusted EBITDA on a proforma basis.
Rhino divesting entire B2C operations
Rhino Entertainment Group stated on LinkedIn that the deal is a part of a decision to divest its entire B2C operations to Betsson and Alta Group.
“For Rhino, this transaction unlocks significant value from the B2C business we have built while allowing us to sharpen our focus on the next phase of growth and value creation,” said the company.
