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CMS advises Rank Group on YoBingo.es acquisition

International law firm CMS has advised UK gaming company The Rank Group (Rank) on the acquisition of the entire issued share capital of QSB Gaming Limited, owner of YoBingo.es, a Spanish digital bingo business, for up to EUR52 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 GBP176 million recommended takeover of AIM-quoted online gaming company, 32Red, by Stockholm listed Kindred Group plc and the GBP65 million 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).
 

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