Four months after Betsson’s Betsafe platform stopped taking bets in Ontario, the Swedish company has acquired licensed iGaming site Casino Days.
Betsson confirmed on Monday, Aug. 3 that it has completed the previously announced acquisition of the Canadian B2C assets of Rhino Entertainment Group.
That deal, first announced in March, includes several Rhino entities that collectively hold licenses, operations, and other assets related to B2C activities in Ontario and the rest of Canada. Betsson also acquired Rhino’s proprietary front-end and middleware technology, which the operator said is expected to drive incremental licensing revenue within its B2B business.
Betsson has paid a total price of €64.5m to acquire Rhino’s Canadian assets, equivalent to more than C$100m. It said that valued Rhino’s Canadian business at approximately 4.7x its enterprise value to EBITDA based on pro forma earnings for 2025. Betsson paid €51.25m of that total fee upfront and will pay the remainder in early 2027, six months after the deal closed.
Betsson forecasted in March that the M&A deal will help it scale up in Canada and generate an estimated €13.7m in adjusted EBITDA on a proforma basis. On Monday, Rhino called the sale “an important milestone” for its own operations.
Betsson gets Day 1 Alberta site
Rhino Entertainment Group has a portfolio of Canadian iGaming brands, including:
- Big Boost
- Casino Days
- LuckySpins
The Big Boost and LuckySpins casinos do not operate in Ontario or Alberta’s regulated iGaming markets but are available elsewhere in Canada under Kahnawake Gaming Commission licenses. Canadian Gaming Business reached out to Betsson to confirm if those brandds are included in the acquisition and whether they will remain operational in the Canadian grey market, but had not received a response at the time of writing.
Most prominently, Betsson gets ownership of the Casino Days platform, which has been licensed by the Alcohol and Gaming Commission of Ontario (AGCO) since 2022 and received Alberta Gaming, Liquor and Cannabis (AGLC) registration this year.
After more than three years operating in Ontario’s regulated market, Casino Days was one of the 22 licensed iGaming sites that went live on day one of Alberta iGaming on July 13. It offers a mix of more than 4,000 slots, table games, and live dealer titles from a range of iGaming developers and studios.
Betsson’s Betsafe offline in Ontario since March
As well as its first operational entry into Alberta, the acquisition of Rhino’s Casino Days also resumes Betsson’s presence in Ontario’s B2C iGaming market.
It already owns the AGCO-licensed Betsafe brand, which had been operational in Ontario since 2023. However, Betsafe stopped accepting bets in Ontario in March of this year. A note on Betsafe’s Ontario-facing website states that platform “will be temporarily unavailable starting March 31, 2026,” but does not offer any further information. Canadian Gaming Business asked Betsson for more context but did not receive a reply.
Betsafe’s AGCO license is set to expire in September after its latest renewal last October. It is no longer listed as an operator on iGaming Ontario’s website.
Now, through its acquisition of Rhino, Betsson brings an established regulated Canadian operation in-house, as well as adding a suite of technology assets that could be licensed to other operators via its B2B division.
