Betsson acquires Rhino Entertainment Group’s B2C business in Canada

Betsson AB, the parent company of the Betsson Group, has completed its acquisition of Rhino Entertainment Group’s B2C business in Canada, together with a set of proprietary technology assets for its B2B operations.

“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 addition to the B2C assets, Betsson acquires Rhino’s proprietary front-end and middleware technology.

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

In a statement in March, Betsson had said that the total purchase price amounts to approximately €64.5 million, and that the acquisition is expected to add “economies of scale, strengthen profitability and expand Betsson’s growth opportunities in its B2C and B2B businesses.”