GameStop acquires Rhino retail chain

US retailer GameStop has acquired the Rhino Video Games chain from Blockbuster in a new deal which is set to complete by the end of the month.

Under the terms of the agreement, the financial details of which have not been disclosed, GameStop will take control of all 72 Rhino stores in the South Eastern US.

"The location of most Rhino stores do not overlap existing GameStop sites, and primarily serve secondary and tertiary markets where we have been very successful," said GameStop boss R. Richard Fontaine.

"The integration of the Rhino group into the growing portfolio of GameStop stores will result in operating synergies while being accretive to earnings."

News of the acquisition comes just days after GameStop published its financial report for the holiday season, confirming sales of US$ 1.7 billion - a 29 per cent increase over the figures for Christmas 2005.