The merged company of Lottomatica and CIRSA will become the second largest publicly traded gaming operator in the world
Lottomatica to Absorb CIRSA. The deal is valued at $2.8 billion.
Italy's Lottomatica, whose shares began trading on the Euronext Milan exchange in early 2023, has agreed to acquire the Spanish company CIRSA. The transaction will be carried out through a stock exchange and will result in the creation of the world's second-largest publicly traded operator in the gambling and sports betting sector.
CIRSA, which focuses on Spain and Latin America, will be merged into Lottomatica. The combined group will retain the name Lottomatica, with headquarters in Rome and an additional base in Barcelona. The listing is planned on Euronext Milan and Spanish exchanges.
Lottomatica holds strong positions in retail and online gambling in Italy, while CIRSA operates casinos, gaming halls, slots, and an online business in Spain, alongside the Sportium brand.
CIRSA shareholders will receive 0.668 new Lottomatica shares for each CIRSA share. Upon closing the deal, Lottomatica investors will own approximately 67.5% of the combined company, and CIRSA shareholders will hold 32.5%. Blackstone is expected to receive about 24%. The deal values CIRSA at around 6 times its 2026 EBITDA and is expected to close in the second quarter of 2027 following regulatory approvals.