Kindred Group completes the acquisition of Blancas NV

Kindred Group completes the acquisition of Blancas NV post thumbnail image

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

Kindred Group entered into an settlement on 29 Oct 2020 to purchase 100% of the shares in Blancas NV from The Rank Team Plc. Blancas NV is the license holder and operator of Casino Blankenberge, which is 1 of the 9 land-based mostly casinos running in Belgium. Blancas NV not long ago efficiently renewed its casino licences with the Belgian Gaming Fee as well as the concession settlement with the town of Blankenberge for a 15-yr period which began in January 2021.

The acquisition will solidify Kindred’s extensive-phrase functions and commitments in Belgium and will allow Kindred to proceed to offer an interesting supplying to Belgian customers. Blancas NV will be operated as a individual entity inside of the Kindred Group beneath the leadership of the recent management workforce led by Dominique De Wilde.

The whole acquistion cost was GBP 25 million on a hard cash free of charge and personal debt totally free foundation and has been settled in income.

See also the previous press release pertaining to the Blancas NV acquistion:

This disclosure includes details that Kindred Team is obliged to make general public pursuant to the EU Marketplace Abuse Regulation (EU nr 596/2014). The details was submitted for publication, by means of the company of the call particular person, on 01-04-2021 17:30 CET.

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