Betsson Eyes the Canadian Market through Investment in Slapshot Media
Betsson AB, an igaming operator, is pursuing its goal of becoming a global superstar in the gaming sector. With the implementation of novel sports betting alternatives in Canada on the horizon, the market leader wants to get a head start.
Betsson agreed to buy a 28 percent share in Slapshot Media at the end of this week, with the intention of being able to reap the benefits of new gaming options coming to Canada. Slapshot is a reputable brand that apparently offers content online, advertising, and professional services to the country’s online gaming market that Betsson will benefit from as it enters the market. According to Betsson’s release, Slapshot will work primarily with the provider to help it establish a strong influence in the region.
Slapshot, which has been around two years, is said to be getting a $2.4 million agreement. However, the marketing firm could see a lot more green in the future, as Betsson has the option to grow its share to as much as 70%. If that happens, the owner is willing to make a considerable investment, but the overall sum will be limited to around $20 million under the terms of the deal.
Betsson’s continuous goals to expand in the US market is bolstered by this financing. Betsson sees this Market place as a wonderful way to boost its functioning market profit share. The creators of Slapshot Media Inc have extensive local knowledge and experience, which will help Betsson position itself advantageously for the future Canadian business regulation,
says Pontus, CEO of Betsson
The implementation of regional restrictions is causing substantial changes in the Canadian online gaming business. The Canadian Senate passed Bill C-218, the Secure and Organized Sports Betting Act, on June 23 of this year, allowing territories to oversee single-game sports wagering in Canada. In Canada, sports betting is now confined to multiple wagering. Ontario is the first jurisdiction to implement an online gambling licensing scheme, which is set to take force in 2022. By 2022, the Ontario market is anticipated to register around 1 billion.
Betsson AB’s daring decision to gain a large piece of the Canadian market will be a turning point for the online gambling operator, as it will draw new viewers and contribute to the company’s profit margins.