For a total of $34,5 million

Kindred Group completes the acquisition of Rank’s Casino Blankenberge in Belgium

The acquisition will solidify Kindred's long-term operations and commitments in Belgium.
2021-04-02
Belgium
Reading time 45 seg
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 (USD 34,5M) on a cash free and debt free basis and has been settled in cash.

Leave your comment:
Subscribe to our newsletter
Enter your email to receive the latest news
EVENTS CALENDAR