Kindred announced on Thursday that it has reached an agreement with The Rank Group Plc to buy 100% of the shares of the operator Blankenberge Casino-Kursaal (Blancas) NV, its subsidiary in Belgium.
Kindred informed that this purchase valued at 25 million pounds reinforces its operations and commitments in Belgium, where it will continue to provide a wide and attractive offer to users.
It should be noted that Blancas NV is the licensee and operator of the Blankenberge casino, one of the nine land-based casinos operating in Belgium, whose concession contract with the city of Blankenberge has been successfully renewed for another 15 years from January 2021.
Since 2012, Kindred has had a business association with Blancas NV due to its "A + license" that allows Kindred to offer online casino, live casino and poker to Belgian customers under the Unibet brand. In accordance with the Belgian legal framework, an “A + license” is required for online casino operations and the license can only be awarded to licensed land-based casino operators.
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 acquisition is subject to customary regulatory approvals and is expected to be completed in the fourth quarter 2020.
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