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Kindred acquires Blancas NV to strengthen Kindred's broad offering in the Belgian market
The acquisition price is GBP 25 million on a cash free and debt free basis and will be settled in cash upon completion.
Kindred has had a long-term commercial partnership with Blancas NV, which dates back to 2012, concerning their "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.
The acquisition demonstrates Kindred's long-term commitment towards the Belgian market and gives Kindred direct access to one of the nine casino licenses, which allows Kindred to continue to offer a broad offering to its 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 acquisition is subject to customary regulatory approvals and is expected to be completed in the fourth quarter 2020.
This disclosure contains information that Kindred Group is required to disclose under the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-10-2020 08:00 CET .
Inga Lundberg , Investor Relations +44 788 799 6116
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https://news.cision.com/kindred-group/r/kindred-acquires-blancas-nv-to-strengthen-kindred-s-broad-offering-in-the-belgian-market,c3227257
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