Interested in the Canadian gambling market? Another big move as Betsson buys Canadian start-up Slapshot Media to increase local presence! (Image by OpenClipart-Vectors from Pixabay)
Online casino and sports betting news outlets out of Canada are headlining a betting brand that is well known to all of our readers in Europe, the UK, South Africa, India, and New Zealand, while a new one for some of our Canadian online casino readers. The breaking news story is that ‘Betsson buys a Canadian start-up’. It is a move to further the Swedish entity’s strategic growth objectives to invest locally in order to grow its brand in new regions. This is not the first deal of its kind from the gambling giant and looks to be a promising venture to grow the company’s global network in sports betting and iGaming.
Betsson Perch Investments AB, has agreed on a deal that will see it acquire shares amounting to 28% in start-up Canadian media company, Slapshot Media. Betsson Perch Investments AB is a subsidiary company of Betsson AB. It is a band that has a long-term strategy to focus on local partnerships and to be involved in local, regulated markets. CA$3 million, or US$2.4 million, was the touted figure for the 28% purchase of the shares. The business deal makes perfect sense for Betsson which has acquired several brands over the past few years, while also being lauded for its solid reputation for customer services – especially after winning the ‘Customer Services Award’ at the 10th Annual eGaming Review (EGR) in London.
Slapshot Media specialises in the creation of localised sporting content, and it provides marketing solutions as well as managed services for online gaming companies in Canada already. The Canadian start-up business will now work in close connection with Betsson to gain an improved presence throughout the impending regulated market. Online gambling has changed significantly in Canada since provincial regulations have been introduced. Named, C-218, this bill got approval in June of 2021, which gave the opportunity for provinces to regulate a single-game bet on sporting events. Meanwhile, the iGaming market in the country is still wide open and mostly regulated by the Malta Gaming Authority (MGA) in Europe, with quite a few casinos also falling under the wing of the Kahnawake Gaming Commission (KGC) and Curacao eGaming licenses.
As it stands now, Canadian sports betting has restrictions to offer just parlay betting. Ontario will be the very first province in Canada that introduces a licensing regime for gambling online. It is expected to be in place sometime in 2022, and by that time, the Ontario online gambling market is expected to be CA$1 billion by 2022. Betsson AB, Chief Executive Operator Pontus Lindwall, was delighted with the agreement for the new investment. Lindwall stated Betsson has an ambition of having a strong presence across the North American market, and this move will certainly help the brand to grow in the region that. Betsson now has the perfect opportunity to increase revenue shares by investing in the Canadian online gaming market.
Betsson has focused its goals on strengthening market positions around the globe. SW Nordic, another subsidiary company of Betsson, recently agreed on the acquisition of an online gambling company, Inkabet. Pontus Lindwall commented on this, confirming that Betsson also wants to continue to grow their market share across the LATAM territories, having previously acquired Colbet, Suaposta and JDP Tech Limited. Lindwall considers LATAM as a strategically significant region, having already performed strongly, but wish to further strengthen their position, and have ambitious plans in place for future endeavours.
Betsson’s Busy 2021: The Betsson brand and company is a Swedish entity with a €402.3 yearly revenue. It has licenses for iGaming and Sports Betting in the UK and Malta as well as in several European, including entry into the Greek market in May this year, and it is also a prominent brand coming up in the LATAM region after partnering with local operator Big Bola Casinos in Mexico also in 2021. On top of this, it sponsored the recent 2021 Copa America won by Lionel Messi’s Argentina. Also this year, Betsson opened its Europebet brand based out of Minsk in a bid to establish the brand in Eastern Europe..
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