Kindred Group Completes the Acquisition of Casino Operator Blancas NV
Kindred Group has 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.
Blancas NV is the license holder and operator of Casino Blankenberge, which is one of the nine land-based casinos operating in Belgium. The operator 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.
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.