Zona de Azar Belgium – Kindred Group Buys Belgium Casino From Rank Group

Belgium.- April 7, 2021 www.zonadeazar.com The Rank Group has sold its Belgium casino to the Kindred Group for £25 million following a pre-arranged agreement in October last year.

Blankenberge Casino-Kursaal was the only casino Rank Group operated in Belgium and the casino operator had been looking to offload the casino for sometime and the deal was completed with an all-cash payment by Kindred who will now hold 100% of the shares for the casino.

Rank Group acquired the casino back in 1998 and revenues for the casino in the 2019/2020 financial year stood at €10 million (£8million), however Kindred had been working with Rank and the Belgium casino since 2012 where it was able then to offer online gambling in Belgium and the deal is understood to help Kindred increase its presence in Belgium further.

It is understood the casino will be run separately from the rest of the Kindred Group and has only recently acquired an extension on its license for another 15 years from the casino regulator.

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