Tag Archives: Blackstone

Grupo CIRSA has grabbed Spanish business headlines, as rumors mount that the Blackstone-owned firm will announce its public listing imminently. The Spanish heritage gambling group is yet to deny reports that it has engaged Morgan Stanley, Deutsche Bank, and Barclays to ‘prepare its route to an IPO’. As reported by Economía Digital, the investment banks have been tasked with engineering …

CIRSA will not pursue a public listing in 2024, as the investors of the heritage Spanish gambling group have reportedly “parked plans for an IPO”. Concluding 2023 trading, CIRSA announced that it had changed its legal identity to the new name ‘CIRSA Enterprises’, reflecting the firm’s business transformation since its majority acquisition by private equity giant Blackstone in 2018. The …

Grupo CIRSA is set to refinance its business, by issuing a bond sale of new senior secured notes in the Blackstone-owned Spanish heritage gambling group.  Last week, CIRSA notified markets that it was aiming to raise a target of €650m in funding through its new bond placement. The new debt will consist of fixed rate and floating-rate bonds set to …

Blackstone is considering various strategic options for its Spanish gambling asset Grupo CIRSA, in which the US private equity fund is reported to favour an initial public offering (IPO). The development comes as the fund is reported to have invited proposals from investment banks to manage a potential share sale and refinance CIRSA existing long-term debt, which according to the latest accounts, stands at circa €2.3bn. …

Heritage Spanish gambling group CIRSA SA continues its ‘global sportsbook expansion’, having agreed to acquire Guadalajara-based GanaBet.mx for a reported €20m.  The deal had previously been disclosed in CIRSA’s FY2022 Interim update, in which the Blackstone-owned Spanish gambling group revealed that it had reserved €20m in cash to acquire GanaBet. Licensed by SEGOB, Mexico’s Ministry of the Interior, GanaBet currently …

Grupo CIRSA has confirmed this week that it will revise its international growth strategy as a result of Spanish home units outperforming their pre-pandemic results.    Strong Q3 trading saw the Blackstone-owned Spanish gambling group achieve corporate revenues of €466m (+40%) as period trading benefited from strong activity registered by its casinos and ‘back-to-business’ recovery of its UNIDESA B2B unit, which …

Blackstone-owned Grupo CIRSA has expanded its presence within North Africa, announcing that it has become the exclusive operator of the Tangier Casino in Morocco.  The deal, agreed with the municipality of Tanger-Tetouan, will see CIRSA take over the management of the Tangier Casino (Casino de Tanger) – a 2,000 m2 hotel and casino complex. CIRSA has an established presence in …

Adam Rytenskild, the new Chief Executive of a transformed Tabcorp Holdings, has outlined his determination to revitalise the heritage operator’s online sportsbook performance. Speaking to the Australian Financial Review (AFR.com), Rytenskild admitted that the ASX group’s flagship TAB sportsbook property had fallen behind the ‘nimble competitors’ of Sportsbet AU (Flutter Entertainment) and Ladbrokes Australia (Entain Plc).    Rytenskild stated that …

Grupo CIRSA has announced the appointment of Antonio Hostench as new Chief Executive of the Blackstone-owned Spanish markets gambling group. Yesterday, the board of CIRSA informed stakeholders that it had decided to split the duties of CEO and Chairman that Joaquim Agut had served since 2018, following US PE fund Blackstone’s buyout of the company. Agut will now solely act …

Grupo CIRSA has praised the ‘robustness of its global operations’ as the Blackstone-owned Spanish gambling business delivered full-year financial results above market expectations. Publishing its Q4 and full-year 2021 results, CIRSA registered group revenues of €1.11 billion, up 30% on corresponding FY2020 results of €843 million. Improved revenue results were maintained despite continued COVID-19 restrictions impacting operations across Spanish provinces …