“Spain is an exciting high-growth regulated market which we believe offers strong multi-channel potential,” O’Reilly added.
The gambling company has bought QSB Gaming Ltd, the parent of YoBingo.es, for an initial consideration of EUR21 million. The acquisition consideration also includes further consideration of up to EUR31 million, depending upon the future performance of YoBingo.es.
“The YoBingo Group is a well-established operation that we intend to further develop and to cross-sell into our established Spanish retail operations,” says O’Reilly.
For 2017, QSB and its units generated revenue and earnings before interest and taxes of EUR10.4 million and EUR2.5 million, respectively.
Source: GMB
