Kindred Team completes the acquisition of Blancas NV

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

Kindred Group entered into an settlement on 29 Oct 2020 to get 100% of the shares in Blancas NV from The Rank Group Plc. Blancas NV is the license holder and operator of On line casino Blankenberge, which is just one of the nine land-based mostly casinos running in Belgium. Blancas NV recently efficiently renewed its on line casino licences with the Belgian Gaming Fee as nicely as the concession settlement with the metropolis of Blankenberge for a 15-yr time period which started in January 2021.

The acquisition will solidify Kindred’s prolonged-term functions and commitments in Belgium and will permit Kindred to proceed to give an appealing providing to Belgian customers. Blancas NV will be operated as a different entity in just the Kindred Team beneath the management of the present-day management group led by Dominique De Wilde.

The complete acquistion cost was GBP 25 million on a income absolutely free and personal debt free of charge basis and has been settled in money.

See also the previous push launch about the Blancas NV acquistion:

This disclosure is made up of information that Kindred Team is obliged to make community pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, via the company of the get hold of person, on 01-04-2021 17:30 CET.