Online operator Betsson has acquired 28% of Canadian start-up Slapshot Media Inc, for a purchase price of CAD$3m.
Slapshot specialises in creating localised sports content, and provides marketing and managed services to the online gaming market in Canada. The business will work exclusively with Betsson in order to build the operator’s presence in the upcoming regulation of the Canadian market.
Betsson will have various call options to scale up the shareholding to 70% of the company over time, for a maximum price of CAD$25m, in line with the introduction of provincial regulations for online gaming across Canada. Ontario recently published its regulations for online sports betting and casino, after the provincial government took steps to open up its market to non-lottery players.
The operator said the investment is in line with its strategy of forming partnerships locally in order to position itself in markets which are soon to be regulated.
“This investment is another step forward in Betsson’s continued ambitions to grow in the North American market,” said Pontus Lindwall, chief executive of Betsson AB.
“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.”
Results published last month showed that Betsson had a record second quarter in 2021, with earnings before interest and tax (EBIT) projected to fall between SEK375m ($43.2m/€36.8m/£31.3m) and SEK385m.