Kindred Group completes £25m acquisition of Blancas NV

The online gambling operator signed an agreement with The Rank Group on 29 October 2020 to acquire 100% of the shares in Blankenberge Casino-Kursaal (Blancas) NV, the licence holder of Casino Blankenberge. The facility 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 £25m total is on a cash-free and debt-free basis, with Rank saying the sale proceeds will “support the group’s liquidity and future initiatives derived from its Transformation 2.0 programme.”

A statement from Kindred read: “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 acquisition price was £25m on a cash-free and debt-free basis and has been settled in cash.”

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Peter Lynch

Journalist

Peter Lynch is a journalist and former Staff Writer for Gambling Insider, where he worked from October 2020 to March 2023. During his tenure, Peter was responsible for writing news articles and feature content that explored major developments across the global gambling and iGaming industries.

He regularly interviewed leading executives and industry figures to bring firsthand perspectives on regulatory changes, commercial strategy and emerging market trends to Gambling Insider’s professional B2B audience.

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