Taking a Slapshot at it: Betsson acquires 28% in Canadian start-up
Betsson Perch Investments AB, a subsidiary of Betsson AB, has signed an agreement to acquire 28% in shares of Canadian start-up, Slapshot Media. The acquisition comes as part of Betsson’s strategy to partner locally, and to position itself in locally regulated markets. The purchase price for the shares stands at CA$3m (US$2.4m).
The Canadian company specialises in providing marketing and managed services to the Canadian online gaming market, alongside specialising in creating localised sports content. Slapshot Media will work with Betsson exclusively to build its presence in the upcoming regulated market.
Through the introduction of provincial regulations, there have been significant changes in the online gambling market in Canada. The Bill C-218 – the Safe and Regulated Sports Betting Act – was approved earlier this year (23 June 2021) by the Canadian Senate. This permitted provinces the opportunity to regulate single-game sports betting in Canada.
Sports betting is currently limited to parlay offerings only, with Ontario being the first province to introduce a licensing regime for online gambling, expected to come into effect in 2022. The market in Ontario is estimated to reach CA$1bn by 2022.
Pontus Lindwall, CEO of Betsson AB, said: “This investment is another step forward in Betsson’s continued ambitions to grow in the North American market. The Canadian market represents a great opportunity for Betsson to increase the share of revenues from regulated markets. The local know-how and experience that the founders of Slapshot Media Inc possess will position Betsson well on the upcoming regulation of the Canadian market.”
Betsson has been focused on strengthening its market position around the world. In another recent acquisition, SW Nordic, a subsidiary of Betsson, signed an agreement to acquire Inkabet’s online gambling business.
“Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet.
“This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future,” Lindwall added.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
