Kindred Group completes the acquisition of Blancas NV

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

Kindred Team entered into an agreement 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 one particular of the 9 land-based casinos operating in Belgium. Blancas NV recently efficiently renewed its on line casino licences with the Belgian Gaming Fee as effectively as the concession settlement with the metropolis of Blankenberge for a 15-yr period which begun in January 2021.

The acquisition will solidify Kindred’s very long-phrase functions and commitments in Belgium and will make it possible for Kindred to continue to offer you an eye-catching giving to Belgian customers. Blancas NV will be operated as a independent entity within just the Kindred Team underneath the leadership of the present management workforce led by Dominique De Wilde.

The whole acquistion value was GBP 25 million on a dollars totally free and financial debt no cost foundation and has been settled in money.

See also the earlier press launch concerning the Blancas NV acquistion:

This disclosure has information that Kindred Group is obliged to make general public pursuant to the EU Marketplace Abuse Regulation (EU nr 596/2014). The details was submitted for publication, by way of the agency of the call individual, on 01-04-2021 17:30 CET.