Betsson Perch Investments AB, a subsidiary of online gaming operator Betsson AB, acquired a 28% stake in Canadian company Slapshot Media Inc, for the purchase price of $3 million.
The investment, the company said, is in line with its local partnership strategy in order to position itself in markets locally and markets to be regulated soon. Canada will officially legalize betting on a single sporting event on August 27, 2021.
Betsson will have several purchase options to increase the ownership interest in the company to 70%, for a maximum price of US$25 million over time and in accordance with the introduction of provincial regulations for online gaming.
Slapshot Media Inc is a Canadian company specializing in the creation of localized sports content and provides marketing and management services for the Canadian online gaming market. She will work exclusively with Betsson to build the company’s presence in the upcoming regulation in the Canadian market.
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 revenue share of the regulated markets. The local know-how and experience that the founders of Slapshot Media Inc possess will position Betsson well in the upcoming regulation of the Canadian market.” Lindawall.
Ontario is the first province to introduce an online gambling licensing regime that is expected to take effect in 2022. Ontario’s market alone is projected to reach $1 billion by 2022.
With more than 16 brands in the portfolio, including Betsafe, NordicBet and CasinoEuro, the Swedish group is one of the biggest references in online gambling in the world, delivering entertainment and fun for more than five decades.
In Brazil, the company is the first and only licensed operator in the Brazilian sports games market, in partnership with the Rio Grande do Sul Jockey Club.