Kindred Group has completed the previously announced acquisition of Casino Blankenberge from The Rank Group Plc for £25m ($34.6m).

The online gambling operator signed an agreement with The Rank Group on 29 October 2020 to acquire 100% of the shares in Blankenberge Casino-Kursaal (Blancas) NV, the licence holder of Casino Blankenberge. The facility is one of the nine land-based casinos operating in Belgium.

Blancas NV 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.

The £25m total is on a cash-free and debt-free basis, with Rank saying the sale proceeds will “support the group’s liquidity and future initiatives derived from its Transformation 2.0 programme.”