Kindred Group completes the acquisition of Blancas NV
VALLETTA, Malta, April 1, 2021 /PRNewswire/ — Kindred Team has on 1 April 2021 completed the previously introduced acquisition of 100% of the shares in Blankenberge On line 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 On line casino Blankenberge, which is 1 of the nine land-dependent casinos running in Belgium. Blancas NV not too long ago productively renewed its casino licences with the Belgian Gaming Fee as effectively as the concession arrangement with the city of Blankenberge for a 15-12 months period of time which started in January 2021.
The acquisition will solidify Kindred’s very long-expression operations and commitments in Belgium and will allow for Kindred to continue to supply an eye-catching providing to Belgian shoppers. Blancas NV will be operated as a separate entity inside the Kindred Group less than the leadership of the existing management team led by Dominique De Wilde.
The full acquistion value was GBP 25 million on a funds free and personal debt no cost foundation and has been settled in income.
See also the previous push release concerning the Blancas NV acquistion:
This disclosure is made up of info that Kindred Group is obliged to make public pursuant to the EU Sector Abuse Regulation (EU nr 596/2014). The information and facts was submitted for publication, by the agency of the speak to human being, on 01-04-2021 17:30 CET.