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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 .
For more information:
Patrick Kortman , Head of Corporate Development & Investor Relations, +46 723 877 438, IR@kindredgroup.com
About Kindred Group
Kindred Group is one of the world's leading online gambling operators with business across Europe , US and Australia , offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 1,600 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com .
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SOURCE Kindred Group
