Betsson Perch Investments AB, a subsidiary of Swedish online game operator Betsson AB, acquired a 28% stake in Slapshot Media Inc., for CA$3 million. Slapshot is a Canadian start-up providing localized sports content.
The investment follows Betsson’s strategy of partnering locally to position itself in regulated and soon-to-be-regulated markets.
Slapshot Media to help Betsson build Canadian presence
Slapshot Media specializes in creating localized sports content and provides marketing and managed services to Canada’s online gambling market.
The Canadian content provider will work exclusively with Betsson to build its presence in Canada’s emerging regulated market. The timing for that couldn’t be better, as the country officially legalized sports betting for single events on August 27.
“Slapshot Media will work exclusively with Betsson to build their presence in Canada’s online gaming sector.”
“This investment is another step forward in Betsson’s continued ambitions to grow in the North American market,” said Pontus Lindwall, CEO of Betsson AB.
“The Canadian market represents a great opportunity for Betsson to increase the share of revenues from regulated markets,” he added.
“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.”
Ontario opportunities abound
Betsson has plans for several future call options to scale up their stake in Slapshot to 70% for a maximum price of CA$25 million. The company is confident this partnership will take them far.
Although Friday’s legislative change allows provinces to add single-event wagers to their offerings, Ontario is the first to open its market to competition. The country’s most populous province is expected to launch its competitive gambling market in late 2021.
Moreover, Ontario recently published draft regulations for online sports betting and casinos. The province also released an application guide for operators looking to register in the market. Registration opens in the coming weeks.
Ontario’s market alone could grow to $1 billion by 2022. The whole of Canada’s sports betting market could be worth more than CA$25 billion by the end of the third year.
Betsson makes similar moves in Latin America
A subsidiary of Betsson, SW Nordic Limited, recently acquired the Latin American sportsbook and casino operator, Inkabet. The deal strengthens and expands Bettson’s presence in Latin America.
But that’s not all. Scientific Games announced last week it had introduced its OpenGaming platform to the Colombian market in a strategic deal with Betsson.
“Betsson continues to supply their customers with an ever-growing content catalogue.”
Last year, Betsson acquired a 70% stake in Colombian-based Colbet. Its users can now access Scientific Games’ portfolio, including content from third-party providers like Big Time Gaming and ReelPlay.