UK gaming operator The Rank Group completed the sale of Blankenberge Casino to the Kindred Group.
Kindred paid £25 million in cash to acquire a 100% stake in Blankenberge Casino-Kursaal (Blancas), a subsidiary of Rank, which operates the Belgian land-based casino and its associated digital license.
Rank said it will use the proceeds from the sale to increase liquidity amid the impact of the Covid-19 pandemic on Rank's UK businesses and to fund initiatives under its Transformation 2.0 programme.
Kindred, which operates several gaming brands including Unibet, began working with Blancas in 2012 to gain access to Belgium's online casino market, as Belgian law requires online gaming operators to partner with land based casinos.
Rank purchased Blankenberge Casino, one of nine casinos in Belgium, in 1998.
In 2017, the company completed other Belgian operations when it left its Middelkerke operation.
However, in 2018, it renewed its casino lease with the city of Blankenberge for another 15 years, starting in January of this year.