Kindred Team completes the acquisition of Blancas NV

VALLETTA, Malta, April 1, 2021 /PRNewswire/ — Kindred Group has on 1 April 2021 completed the earlier introduced acquisition of 100% of the shares in Blankenberge On line casino-Kursaal (Blancas) NV, which operates On line casino Blankeberge in Belgium, from the Rank Group Plc.

Kindred Group entered into an arrangement on 29 October 2020 to acquire 100% of the shares in Blancas NV from The Rank Team Plc. Blancas NV is the license holder and operator of On line casino Blankenberge, which is 1 of the nine land-based mostly casinos working in Belgium. Blancas NV recently effectively renewed its on line casino licences with the Belgian Gaming Commission as effectively as the concession agreement with the metropolis of Blankenberge for a 15-year interval which began in January 2021.

The acquisition will solidify Kindred’s extensive-phrase functions and commitments in Belgium and will permit Kindred to continue to present an attractive providing to Belgian shoppers. Blancas NV will be operated as a separate entity in the Kindred Team under the leadership of the present-day management group led by Dominique De Wilde.

The complete acquistion selling price was GBP 25 million on a funds cost-free and debt no cost foundation and has been settled in funds.

See also the earlier push launch with regards to the Blancas NV acquistion:

This disclosure incorporates facts that Kindred Group is obliged to make public pursuant to the EU Current market Abuse Regulation (EU nr 596/2014). The facts was submitted for publication, as a result of the agency of the speak to man or woman, on 01-04-2021 17:30 CET.