Tag Archives: Blackstone

Blackstone halts CIRSA IPO due to global market uncertainties

SBC News Blackstone halts CIRSA IPO due to global market uncertainties

Grupo CIRSA has delayed its long-awaited IPO once more, as private equity owner Blackstone waits for calm to return to global markets. Blackstone was expected to list approximately €1bn of CIRSA shares on the Madrid Bolsa in April. However, the PE fund is reported to have blocked CIRSA’s Madrid debut due to global market uncertainties. Though unconfirmed by Blackstone, Spanish …

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CIRSA nets peak profits of €699m as Blackstone keeps Spain waiting

SBC News CIRSA nets peak profits of €699m as Blackstone keeps Spain waiting

CIRSA has declared 2024 its “best year in business”, achieving a record €699 million in operating profits. This marks the third consecutive year of record-breaking performance since Blackstone acquired the company in 2018. Revenue rose 8% year-on-year, reaching €2.15bn, compared to €1.98bn in 2023. The company ended the year strong, posting €586m in Q4 operating revenues (+13.7%) and €191m in …

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Superbet nets €1.3bn funding backed by Blackstone to pursue Giant Status

SBC News Superbet nets €1.3bn funding backed by Blackstone to pursue Giant Status

Superbet has announced that it has reached terms to secure a €1.3bn refinancing agreement to accelerate its strategic expansion. Deal terms were agreed upon by Superbet’s principal investor, private equity (PE) fund Blackstone, and related parties managed by HPS Investment Partners (HPS). The €1.3bn arrangement will be used by Superbet to strengthen its financial resources as the company continues to …

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CIRSA nets 68% stake in CasinoPortugal as Blackstone IPO lingers

SBC News CIRSA nets 68% stake in CasinoPortugal as Blackstone IPO lingers

Grupo CIRSA has received regulatory approval to acquire a majority stake in CasinoPortugal, expanding the online portfolio of the Blackstone-owned Spanish gambling group. On Friday, CIRSA confirmed it had secured approval from Portuguese authorities to acquire a 68% stake in CasinoPortugal.pt, a deal under review since CIRSA’s initial approach in September 2024. Mergers and acquisitions in Portugal’s gambling sector require …

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CIRSA hits €1bn in net income ahead of Apuesta Total takeover

SBC News CIRSA hits €1bn in net income ahead of Apuesta Total takeover

Grupo CIRSA has strengthened its full-year guidance to an EBITDA range of €680-€710m, as it moves to refresh its South American profile by taking majority ownership of Apuesta Total – Peru’s market-leading bookmaker. H1 interim accounts show Blackstone-owned CIRSA surpassing the €1bn mark in net revenues. Trading during the period saw CIRSA’s casino business unit generate a 6% increase in …

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CIRSA tracks path to €5bn IPO

SBC News CIRSA tracks path to €5bn IPO

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 …

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Blackstone parks CIRSA IPO plans 

SBC News Blackstone parks CIRSA IPO plans 

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 …

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Blackstone favours IPO exit for CIRSA

SBC News Blackstone favours IPO exit for CIRSA

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. …

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CIRSA acquires GanaBet MX as Blackstone eyes future options

SBC News CIRSA acquires GanaBet MX as Blackstone eyes future options

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 …

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