Blackstone plans to list Spanish gambling company Cirsa in IPO, aiming to raise €700-1 billion.

From Investing.com: 2024-11-25 03:30:50

Private equity investor Blackstone plans to list shares of Spanish gambling company Cirsa in an IPO in the first half of 2025, expecting to raise between 700 million to 1 billion euros. Blackstone acquired Cirsa in 2018 and has hired Barclays, Deutsche Bank, and Morgan Stanley as global coordinators for the IPO.

Cirsa, which operates casinos and betting shops in Spain and Latin America, could be valued at around $3.4 billion in the IPO. Blackstone’s move to float between 20% and 25% of Cirsa shares aims to capitalize on the growing gambling industry. Barclays, Deutsche Bank, and Morgan Stanley have not commented on the news.

The IPO of Cirsa by Blackstone is set to be a significant event in the gambling industry, with market sources expecting strong investor interest in the company. The IPO is part of Blackstone’s strategy to monetize its investment in Cirsa, which has seen growth in its operations in Spain and Latin America since the acquisition in 2018.

Investors and analysts will be closely watching the Cirsa IPO as it could provide insights into the performance and valuation of the gambling sector in Spain and Latin America. Blackstone’s decision to list Cirsa could have implications for other companies in the industry looking to tap into the public markets for funding and expansion opportunities.

Overall, the Cirsa IPO led by Blackstone is expected to be a key development in the gambling sector, with potential implications for the broader market and investor sentiment towards the industry. The valuation and success of the IPO will be closely monitored by stakeholders in the gambling and investment communities.



Read more at Investing.com: Blackstone to list Spain’s Cirsa shares in Madrid early 2025, Expansion says By Reuters