Rank Group acquires Spanish bingo operator

The Rank Group has announced the acquisition of the entire issued share capital of established Spanish bingo operator YoBingo.es from QSB Gaming Limited for an initial consideration of Euro 21 million.

Subject to future performance, the Group may fork out a further maximum consideration of Euro 31 million.

Rank Group said the acquisition secures the company a strong digital bingo and casino presence in Spain in which, as a leading operator, YoBingo.es holds a 30 percent share of the bingo market and 5 percent of the slots market.

In addition, YoBingo.es’ proprietary platform, for online bingo, roulette and video bingo content, provides Rank potential to expand into other regulated markets.

The acquisition accelerates the multi-channel strategy of Rank’s established Spanish brand, Enracha and deepens Rank’s commitment to the Spanish gaming market, a press statement reads.

John O’Reilly, Chief Executive of Rank said:

“The acquisition of the YoBingo Group expands Rank’s digital footprint in Spain.  Spain is an exciting high-growth regulated market which we believe offers strong multi-channel potential. The YoBingo Group is a well-established operation that we intend to further develop and to cross-sell into our established Spanish retail operations. “

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