The board of Grupo CIRSA has announced that it has agreed to terms on a new €615 million debt-bond placement, helping the Spanish gambling group improve its financial liquidity by refinancing its previous debt arrangements. The bond placement will carry an annual interest rate of 4.5%, with its maturity clause triggered from 2027 onwards, and has been underwritten by the …
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Grupo CIRSA, the Blackstone-owned Spanish gambling group, revealed that 2021 trading is ‘on par with company expectations’ as its global land-based units continue to be impacted by COVID circumstances. Publishing a Q1 2021 trading overview, the CIRSA registered group operating profits of €28.6 million, generated from corporate revenues totalling €156 million. CIRSA underscored that period operating profits were generated against …
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Grupo CIRSA, Spain’s largest gambling operator, has published its 2020 financial accounts, revealing group-wide operating losses of €255 million. CIRSA, which is fully owned by US private equity fund Blackstone Group, cites that its financial performance had ‘rebounded’ during the second half of 2020 trading, as the company posted a better than anticipated full-year EBITDA of €126 million. Nevertheless, CIRSA …
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The board of Tabcorp Holdings is reportedly reviewing a number of individual offers and options from companies looking to acquire its TAB wagering and media units. Grabbing yesterday’s business headlines, FTSE100 Entain Plc revealed its interest to acquire TAB units and merge the heritage betting brand with its active Australian market portfolio. Despite its public announcement, Entain chose not to …
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Spain’s Competition & Markets Authority (CNMC) will allow Grupo CIRSA to acquire bookmaker Sportium outright, permitting the Blackstone owned operator the right to purchase Ladbrokes 50% joint-venture shareholding. The CNMC had been forced to review CIRSA’s pending €70 million acquisition of Ladbrokes JV stake in Sportium, which would see CIRSA control Spain’s biggest wagering network made-up of 3,000 retail betting …
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Following a review by Spain’s Competition & Markets Commission (CNMC), Grupo CIRSA has been ordered to restructure its Catalonian commercial presence in order to complete its acquisition of slot machine and arcade hall operator Giga Games. CNMC has ordered CIRSA governance to dispose of two of its Barcelona bingo halls, whilst further demanding that the Blackstone owned gambling group ‘terminate …
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Basque Country operator Grupo Kirol operating firm of Kirolbet has moved to deny rumours that it will sell its flagship business to US private equity fund Blackstone Group. Yesterday afternoon, Spanish business news source El Confidencial reported that Blackstone had sanctioned a €100 million bid to acquire Kirolbet’s entire Basque Country gambling operations. The deal would see Blackstone expand its …
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A year following its €2 billion acquisition of Grupo CIRSA, US private equity fund Blackstone Group, is reported to be assessing ‘future options’ for the Spanish market gambling group. Spanish business news source Economia Digital, reports that Blackstone eyes an ‘IPO on the horizon’ for its CIRSA vehicle. Blackstone, which maintains one of gambling’s biggest investment portfolios, is reported to …
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Spanish gambling firm Grupo CIRSA has confirmed that it has secured a €390 million bond placement with private investors. Issuing a market filing, CIRSA majority owned by US private equity firm Blackstone, confirms that 120 institutional investors have backed its bond arrangement, which maintains a 4.75% annual interest rate, with debt maturity triggered in 2025. In its update, CIRSA governance …
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US private equity fund Blackstone Group LLP continues to expand its European gambling investment portfolio, confirming that it has invested €175 million in Romania and CIS market bookmaker SuperBet. The transactions sees the US PE firm secure a minority stake in SuperBet, Romania’s largest sports betting operator, through its strategic vehicle ‘Blackstone Tactical Opportunities’. Founded in 2008 by industry investor …
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