Rank completes sale of Blankenberge casino
Rank has confirmed that it has now completed the sale of its Blankenberge casino and associated digital licence to Kindred Group.
Total consideration for the sale was £25 million on a cash free / debt free basis and has been satisfied in cash. The sale proceeds will support the Group’s liquidity and future initiatives derived from its Transformation 2.0 programme.
Rank announced in October it had reached an agreement to sell its Blankenberge business to Kindred Group. John O’Reilly, Chief Executive of The Rank Group Plc, said: “The announcement of the sale of the Blankenberge casino secures the next chapter for a great venue in Belgium and a team that deliver an excellent customer experience to the local community. As a standalone casino, the business was non-core to Rank’s international growth plans and the £25m.”