The Rank Group Plc Acquires QSB Gaming Limited

Posted: 22nd May 2018 10:20

The Board of The Rank Group Plc ('Rank') is pleased to announce that Rank has acquired the entire issued share capital of QSB Gaming Limited ('QSB'), owner of, a leading Spanish digital bingo business for an initial consideration of €21 million and, subject to future performance, up to a maximum consideration of €52 million in cash.

Strategic highlights

  • Secures a strong digital bingo and casino presence in Spain, a high growth regulated digital gaming market;
  • Top 2 online bingo operator in Spain with a greater than 30% bingo market share and over 5% slots market share;
  • Provides Rank with a proprietary platform including online bingo, roulette and video bingo content for the Spanish market with strong potential to support other regulated markets;
  • Provides a brand with strong national recognition in Spain;
  • Accelerates the multi-channel strategy of Rank's established Spanish brand, Enracha; and
  • Deepens Rank's commitment to the Spanish gaming market.

Financial highlights

  • For the year ended 31 December 2017, QSB and its subsidiaries (the 'YoBingo Group') generated revenue and EBIT of €10.4 million and €2.5 million respectively;
  • Total purchase enterprise value of up to €52 million; and
  • EPS accretive.

Commenting on the Acquisition, 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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