We study properties of the consistent Boltzmann algorithm for dense gases, using its limiting kinetic equation. First, we derive an H-theorem for this equation. Then, following the classical derivation by Chapman and Cowling, we find approximations to the equations of continuity, momentum, and energy. The first order correction terms with respect to the particle diameter turn out to be the same as for the Enskog equation. These results confirm previous derivations, based on the virial, of the corresponding equation of state.