Cirsa Readies Spectacular Public Debut on Spanish Exchanges
Blackstone's Cirsa intends to gather €460 million through an initial public offering (IPO).
Get ready for some major moves in the Spanish gambling industry! The maverick player, Cirsa, formerly owned by Blackstone, has officially announced its intention to go public. This groundbreaking decision will see Cirsa's shares traded on up to four Spanish stock exchanges – Madrid, Barcelona, Bilbao, and Valencia.
Cirsa's Ambitious IPO target: €460 million
Executive Chairman, Joaquim Agut, emphasized the milestone significance of this decision, stating,
"Today marks a significant milestone in our storied history, a company rooted in Terrassa since 1978, and built on a legacy of exceptional performance. With a presence in 11 countries, we've always operated exclusively in regulated markets."
The exact quantity of shares for this Initial Public Offering (IPO) remains under wraps, but one thing's for sure – Cirsa hopes to raise an impressive €460 million. This will include selling €400 million in newly-issued shares and reaping €60 million from secondary shares.
Expect the IPO to happen later this year, but specifics on the date are still elusive. Rest assured, additional details will be unveiled in the near future.
Dominating the Latin American and Global Markets
Cirsa has been reigning supreme in the Latin American and Spanish-speaking markets, making its mark in countries across the globe. However, its influence stretch far beyond native-language strongholds, with successful forays into foreign territories like Portugal, Morocco, and Italy.
Currently, Cirsa boasts over 451 casinos and gaming rooms across multiple jurisdictions, as well as approximately 2,500 sports betting locations and a staggering 85,000 slot machines.
The company's growth trajectory has been cemented by strategic acquisitions of overseas assets, consolidating its market-leading position, and a transformative partnership with Blackstone in 2018, which has played a crucial role in the company's recent success.
Online gambling division on an upward trend
With its online gambling and betting divisions experiencing a surge, Cirsa is poised to capture the interest of potential investors when it finally rolls out its IPO. Let's wait and see if the market takes notice!
Catch a glimpse of Cirsa's global footprint in the image below:
The ambitious IPO of Cirsa, a leading player in the gambling industry, aims to raise €460 million by selling newly-issued shares and reaping funds from secondary shares. As investors prepare for this public debut, they should consider the firm's growth in various markets, including finance-driven investing opportunities from its casinos, online gambling, and business expansions across the globe.
.){kind=link}