Tag Archives: CIRSA

CIRSA orders Catalan makeover to complete Giga Games acquisition

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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GVC Holdings confirms Sportium JV disposal

FTSE100 GVC Holdings has this morning disclosed that it will sell its 50% stake in Spanish bookmaker Sportium to joint-venture partner Grupo CIRSA for €70 million. GVC secures its interest in Sportium, through its ownership of Ladbrokes, who in 2013 launched Sportium entering a 50/50 partnership with CIRSA. Last May, Spanish business news sources reported that CIRSA had filed a …

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Crowded field pitches up for BA online gambling tender

As anticipated the upcoming Buenos Aires online gambling tender will see a raft of international gambling operators’ partner with Argentine enterprises seeking to secure one of seven IPLyC licenses.  Setting a 25 June deadline for final applications, this May, BA’s regulatory gambling body IPLyC published its ‘official criteria for competition’, outlining key venture requirements to compete for BA-7 licenses. Though …

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Argentine players seek international tie-ups to secure BA-7 licenses

Argentine news reports of a ‘diverse cast’ of national and international operators vying to secure one of seven Buenos Aires province online gambling licenses. On Monday, the Buenos Aires executive closed its ‘window of submissions’ for operators seeking to join BA’s regulated online gambling marketplace. Argentina’s first legislative code for online gambling was approved last April, as BA districts sanctioned the …

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Blackstone eyes ‘IPO on the horizon’ for CIRSA

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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CIRSA completes €390 million bond placement eyeing future investments

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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SuperBet Romania secures £175 million Blackstone backing

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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CIRSA demands that Ladbrokes offload stake in Sportium joint-venture

Spanish business news source Economia Digital reports that Grupo CIRSA has sued joint-venture partner Ladbrokes (GVC Holdings) in relation to the ownership structure of its ‘Sportium’ subsidiary. Economia Digital reports that, in July 2018, CIRSA governance filed a Madrid Court challenge against Ladbrokes stating that Sportium joint-venture terms and agreements had been completely altered by GVC Holdings £4 billion takeover of …

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Blackstone continues Spanish affair acquiring Giga Games

Spanish Gambling firm Grupo CIRSA has confirmed that it has acquired slot machine distributor and gaming hall operator Giga Games, from Spanish private leisure and gambling fund Conei Corporacion. The transaction sees the Lao Hernandez family engage once more with US private equity group Blackstone, who last year acquired CIRSA from Spanish gambling tycoon Manuel Lao Hernandez for approximately €1.5 billion. …

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CIRSA states its intent on dominating ‘All Spanish Markets’ under Blackstone

Publishing its private accounts, Spanish gambling firm Grupo CIRSA has detailed solid corporate progress and growth, completing its first year under the ownership of US multi-national private equity firm Blackstone. The Spanish legacy gambling group records 2018 group revenues of €1.4 billion, combined with operating profits of €368 million, up 5% on its 2017 performance. Issuing a corporate statement, Joaquim …

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