Betsson has taken steps to increase its presence in Canada after acquiring the Canadian consumer assets of Rhino Entertainment in a deal worth upwards of €64 million.
It will see the Swedish operator gain business-to-consumer operations that target Canadian players, while also add several technology assets to its arsenal.
Purchase consistent with long-term goal, says Betsson
Announcing the deal, a company statement explained how the deal will allow the company to continue pursuing value for its shareholders.
“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. In 2025, the acquired assets generated a combined estimated €13.7m of earnings before interest, taxes, depreciation and amortisation (EBITDA) on a proforma basis.”
As part of the purchase, Betsson will now take over Rhino brand Casino Days, which is licensed in the province. LuckySpins and Big Boost will also join the Betsson portfolio, but these brands are licensed elsewhere in Canada under the Kahnawake Gaming Commission.
Betsson expansion into Canada comes as Alberta landscape shifts
As regulatory frameworks continue to develop across Canada, operators are increasingly positioning themselves to capitalise on new opportunities and this deal confirms Betsson’s intention to strengthen its foothold in a market that is gradually opening to commercial online gambling.
Alberta’s push toward a regulated market for private iGaming operators continues to garner industry attention. The province is widely expected to launch its commercial framework sometime this year, though regulators have yet to confirm a precise timeline. Industry observers say the move could mark the next major expansion of regulated online gaming in Canada after Ontario’s landmark rollout in 2022.
Against that backdrop, Betsson’s purchase of Rhino’s Canadian assets could provide the operator with additional scale and flexibility as new markets emerge. Rhino’s existing infrastructure, licences and operational capabilities are seen as assets that could help the company respond quickly as additional provinces adopt regulated frameworks. Companies active in Ontario are widely viewed as being well-positioned to expand when new opportunities arise.
In Ontario itself, Betsson is effectively broadening its presence by adding another brand to its existing operations. The company has been active in the province since 2023 through its Betsafe brand, operating within the regulated market overseen by provincial authorities. With Rhino’s Casino Days brand already licensed in Ontario, Betsson now gains a second consumer-facing platform in the same jurisdiction.
The dual-brand approach could allow Betsson to target different segments of Ontario’s competitive iGaming market while building brand recognition ahead of potential expansion elsewhere in Canada. With Alberta edging closer to regulation and other provinces monitoring Ontario’s model, operators are increasingly preparing for a broader national market. Betsson’s latest move suggests it intends to be firmly positioned for that next phase of growth.
Prediction markets remain off the Betsson agenda, says CEO
In an interview last month, CEO Pontus Lindwall has no current intentions to enter the business into prediction markets.
“We can say that it’s a very interesting market segment that has been created in quite a short time span,” Lindwall told analysts. “[But] we don’t see that fit as well in our core markets’ regulations as it seems to fit in the US as an example. So, we have no plans to enter into that business as of now.”
Some betting companies have taken the opposite approach by moving into prediction markets. DraftKings, for example, has expanded into the space through the acquisition of Railbird Technologies, supporting the development of a platform that allows users to trade contracts tied to the outcomes of real-world events.
The move reflects growing interest among gambling operators in event-based trading products that sit adjacent to traditional sports betting. Rival firms, including FanDuel, have also explored similar concepts, highlighting how some companies view prediction markets as a complementary product to conventional wagering.
Canada, however, prohibits most prediction market businesses from operating in the country, due to securities rules banning short-term binary options. Canadian Gaming Association president and CEO Paul Burns told a Canada-focused panel this week at NEXT.io’s New York Summit that they “dodged a bullet”.
For now, however, Betsson appears content to focus on strengthening its traditional betting and iGaming operations rather than venturing into newer event-trading models. With Canada’s regulatory landscape continuing to evolve, the company’s latest acquisition positions it to scale its presence as additional provinces consider regulated frameworks.
As markets beyond Ontario explore commercial online gaming, Betsson’s expanded portfolio and infrastructure could allow it to move quickly when new opportunities arise. The deal signals that the operator sees Canada not as a single market, but as a long-term growth region still in the early stages of development.
