- Betsson closed its 64.5 million euro purchase of Rhino Entertainment’s Canadian business on Aug. 3.
- AGLC’s registrant list carries no Betsson entry; casinodays.com is registered to Golden Nebula Limited through July 13, 2027.
- Betsson paid 51.25 million euros at closing and owes 13.25 million euros six months later.
- Golden Nebula also holds Casino Days’ Ontario registration, one of 48 operators cleared in that province.
EDMONTON, Alberta – Betsson AB completed its 64.5 million euro purchase of Rhino Entertainment’s Canadian business on Aug. 3, taking control of an Alberta operator registration it never applied for. The province opened to private operators three weeks earlier, on July 13.
Alberta’s Registry Has No Betsson Entry
Alberta’s online gambling market is the second in Canada after Ontario to admit private operators. The Alberta iGaming Corporation conducts and manages the market. Alberta Gaming, Liquor and Cannabis registers the operators and enforces the standards.
AGLC’s gaming registrant list returns no entry for Betsson, Betsafe or Rhino Entertainment. It does return casinodays.com, registered to Golden Nebula Limited in the iGaming operator class, with an expiry of July 13, 2027. That registration, not an application of Betsson’s own, is what reaches Alberta players.
Ontario’s register reads the same way. Its operator directory names Golden Nebula Limited as the company behind Casino Days, and the buyer’s own name appears on neither province’s list.
Registration in both provinces attaches to a legal entity rather than to a brand, with the consumer brand recorded as a trade name under it.
That expiry date is not unique to Casino Days. AGLC’s iGaming operator registrations for other Alberta gambling sites, among them bet99 and tooniebet.ca, also run to July 13, 2027, a year to the day after the market opened.
The Price Is 4.7 Times EBITDA, With A Fifth Deferred
Betsson said on Aug. 3 that the deal had completed, covering several Rhino Group entities holding the assets, licences, personnel and operational capabilities of the consumer business in Ontario and the rest of Canada.
The total consideration is 64.5 million euros. Betsson paid 51.25 million euros at closing and owes the remaining 13.25 million euros six months afterward, which places that payment in early February 2027. The deferred portion is about 21 percent of the price.
When it announced the transaction on March 12, Betsson put the valuation at roughly 4.7 times EBITDA on an enterprise value basis, using 2025 proforma results, against combined EBITDA of 13.7 million euros. It guided completion for the second or third quarter of 2026 and closed inside that window.
The sum is small measured against the buyer. Betsson reported group revenue of 310.2 million euros in the second quarter, the highest in its history, and operating income of 42.2 million euros, down 39 percent from a year earlier. Latin America grew 32 percent and now accounts for more than a third of group revenue, while the B2B division weighed on the quarter.
Rhino’s proprietary front-end and middleware technology came with the purchase, and Betsson said it expects to license that technology through the same B2B division for incremental revenue.
Casino Days Now Holds Registrations In Two Provinces
Ontario’s regulated market held 48 operators and 82 gaming websites as of July 22, according to iGaming Ontario. Alberta’s opening gave Golden Nebula a second provincial registration, and Casino Days is now one of the online gambling sites for Canadians cleared in both provinces. The acquisition placed both registrations inside a Nasdaq Stockholm-listed group.
The deferred 13.25 million euros falls due in early February. The Alberta registration behind casinodays.com expires July 13, 2027.
