VALLETTA, Malta, April 1, 2021 /PRNewswire/ — Kindred Team 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 Team Plc.
Kindred Team 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 On line casino Blankenberge, which is a single of the 9 land-primarily based casinos running in Belgium. Blancas NV just lately productively renewed its casino licences with the Belgian Gaming Fee as effectively as the concession agreement with the city of Blankenberge for a 15-year time period which started out in January 2021.
The acquisition will solidify Kindred’s extensive-expression functions and commitments in Belgium and will let Kindred to continue to offer an appealing giving to Belgian prospects. Blancas NV will be operated as a individual entity within just the Kindred Group beneath the management of the present administration workforce led by Dominique De Wilde.
The complete acquistion value was GBP 25 million on a dollars free of charge and financial debt free of charge basis and has been settled in income.
See also the previous push release pertaining to the Blancas NV acquistion:
This disclosure includes information 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 the agency of the get in touch with particular person, on 01-04-2021 17:30 CET.