CMS advises on acquisition of YoBingo.es by The Rank Group Plc

International law firm CMS has advised Main Market listed UK gaming company The Rank Group Plc (‘Rank’) on the acquisition of the entire issued share capital of QSB Gaming Limited, owner of YoBingo.es, a leading Spanish digital bingo business for up to €52 million.

The acquisition of the Yobingo Group expands Rank’s digital footprint in Spain and provides it with a proprietary platform and content for the Spanish market with strong potential to support other regulated markets. This deal further solidifies CMS’ pre-eminence for M&A in the gaming sector, and follows the firm’s recent roles on the £176m recommended takeover of AIM-quoted online gaming company, 32Red, by Stockholm listed Kindred Group plc and the £65m sale by Intellectual Property & Software Ltd, European Domain Management Ltd and Rocket 9 Ltd of their online casino business and assets to NASDAQ First North Premier listed mobile gaming company, LeoVegas AB (publ).

Corporate partner Rob Willis and senior associate Georgina Ball led the London-based CMS team, with support from Lauren Wood and Nyambura Kiarie (Corporate), Robert Sartor (Tax), Sarah Wright and Lucinda Richardson (IP) and Matt Hanson (Commercial) and David Porras Cabellos, Blanca Escribano and Javier Torre de Silva (Spanish commercial, IP and gambling regulatory).