Rhino is set to close operations in the UK in spite of a significant marketing push in recent years.
The operator informed customers that it will be ceasing operations on 26 March 2025, in what was “not an easy decision”.
It added that any open or ante-post bets that remain unsettled by 26th March 2025 will be voided, while customers will be able to withdraw any remaining funds from their account up until the 26th.
Upon exiting the UK market, the UKGC emphasised that businesses “should be fair and open” and “have plans in place, and to take all necessary steps, to make sure that consumers are not unnecessarily disadvantaged if they close”.
Upon such a decision being reached, the regulator expects gambling entities to provide clear information to customers, with communication having to be made available by all means, including direct contact with consumers, notices on the outside of premises (where applicable) and wider messages on social media.
Central to Rhino’s UK focus was growing their brand exposure through sponsorship, which included collaborations with Leyton Orient and Grade 1 winning jockey Henry Brooke, who was its horse racing ambassador for the 2023-24 jumps season.
The operator had also sought to diversify its offering through the introduction of a myriad of new games into its slot portfolio. As well as this, the firm embraced the bingo vertical as an avenue to attract new players.
Rhino was formed during the global pandemic, as it highlighted a significant focus on innovation and “superior customer service supported by a fair and transparent rewards scheme”.
The license holder for the operator is Playbook Gaming Limited.
Its closure underlines the challenges faced within the UK market, coming just three years after Mansion Group took the surprising move to end its longstanding presence in the market.
The operator at the time cited a review of competitive market conditions and the regulatory environment within the British sports betting space as the reason for its initial sportsbook departure, before it fully ended all operations just months later.
UK Challenges
As the UK embarks on a new era for regulation and increasing compliance costs, it remains to be seen whether smaller challenger brands will be able to compete in a tough market for operators.
The fate of Rhino emphasises that the framework within the UK remains somewhat unwelcoming to brands that are seeking to build a footprint and gain exposure.
Novibet also recently confirmed that it was leaving the UK market, in a recent interview with SBC Leaders, the firm’s CEO George Athanasopoulos revealed just how challenging the market is.
He explained: “Prior to our surrender of the licence, we had been growing at a typical, for Novibet, rate of more than doubling every year. And while our commercial success was delivering on plan, we noticed two very worrisome long-term threats: regulatory challenges and an accompanying black market growth.
“We took the very hard decision to focus our efforts and investments in more promising markets, but we haven’t completely written off the UK opportunity. We are monitoring changes, and if a more favourable set of conditions is shown to become the most likely scenario, we would consider reapplying for a licence.”
