VALLETTA, Malta, April 1, 2021 /PRNewswire/ -- Kindred Group has on 1 April 2021 completed the previously 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 agreement on 29 October 2020 to acquire 100% of the shares in Blancas NV from The Rank Group Plc. Blancas NV is the license holder and operator of Casino Blankenberge, which is one of the nine land-based casinos operating in Belgium. Blancas NV recently successfully renewed its casino licences with the Belgian Gaming Commission as well as the concession agreement with the city of Blankenberge for a 15-year period which started in January 2021.
The acquisition will solidify Kindred's long-term operations and commitments in Belgium and will allow Kindred to continue to offer an attractive offering to Belgian customers. Blancas NV will be operated as a separate entity within the Kindred Group under the leadership of the current management team led by Dominique De Wilde.
The total acquistion price was GBP 25 million on a cash free and debt free basis and has been settled in cash.
See also the previous press release regarding the Blancas NV acquistion:
https://www.kindredgroup.com/media/press-releases/2020/kindred-acquires-blancas-nv-to-strengthen-kindreds-broad-offering-in-the-belgian-market/
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 01-04-2021 17:30 CET.
