Betsson AB continues its unrelenting quest to become a household name in the gaming industry. With the pending introduction of new sports betting options in Canada, the global brand wants to hit the ground running in the country. It’s now banking on a new partnership to lead the charge, having announced the acquisition of a significant stake in Slapshot Media, Inc., a marketing company that targets the online gaming space.
Betsson Extends Reach in Canada
Betsson announced at the end of last week that it had purchased a 28% stake in Slapshot Media, with the goal of being able to take advantage of new gaming alternatives coming to Canada. Slapshot is a relatively young company that reportedly provides sports content, as well as marketing and managed services, to the country’s online gaming market, which will serve Betsson well as it enters the market. Slapshot will, according to Betsson’s announcement, work exclusively with the operator to help it develop a significant presence in the country.
The deal is reportedly worth about $2.4 million to Slapshot, which has been around for about two and a half years. However, the marketing company has the potential to see a lot more green, as Betsson has the right to increase its stake to as much as 70%. Should that happen, the operator is willing to make a significant investment, but the total amount, per the agreement, would be capped at about $20 million (CAD$25M). Given the fact that Canada’s sports betting markets could be worth as much as $4.6 billion in just a few years, there is a good chance an expanded relationship between Betsson and Slapshot is coming.
New Sports Betting Options at Canada’s Doorstep
Canada is on the verge of launching its expanded sports betting market after lawmakers and politicians put their differences aside and recently approved Bill C-218. The latest details coming out of the country indicate that, as of August 27, Canadians will be able to legally place single-event sports wagers for the first time, giving them a few days to gear up for the NFL season. However, online options will take a little longer, with Ontario expected to be the first province to introduce the capability, but not until sometime early next year.
Still, the rollout of new sports betting options and Betsson’s new agreement are perfectly timed to allow the operator to become a formidable player in the market. The company’s CEO, Pontus Lindwall, is now just waiting for the green light, stating of what’s coming down the pipe, “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.”