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Kindred’s acquisition of Casino Blankenberge finalized
The Rank Group has announced the completion of the sale of its Belgian land-based Casino Blankenberge to Kindred Group, along with its digital licence.
Kindred has paid £25 million in cash for the acquisition of the land-based casino through this deal. Rank has noted that all the funds from this sale will be put towards the liquidity and planned initiatives for its programme of transformation.
The deal was initially revealed back in October of 2020, and mentioned that Kindred will be obtaining all 100% of the shares in Blankenberge Casino-Kursaal, which is a subsidiary of Rank that is in charge of running operations at the casino.
Kindred and Blancas have been working together since 2012, as Belgium’s rules on iGaming and online gambling have always needed iGaming operators to have a land-based partner in order to be eligible to provide online casino and poker, as well as live dealer games. Casino Blankenberge has been run by Rank since 1998, and is currently one out of the nine land-based gambling venues in the country.
The casino obtained a 15-year operating licence back in January of this year after an agreement renewal with the city.
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