Tag Archives: CIRSA

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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CIRSA full unit recovery delivers peak profits of €550m 

SBC News CIRSA full unit recovery delivers peak profits of €550m 

Grupo CIRSA has lauded its 2022 financial recovery as all core business units “return and outperform pre-COVID 2019 trading”.  Full-year 2022 results saw the Blackstone-owned Spanish gambling group declare an operating profit of €552m, up 66% on the corresponding FY2021 result of €331m. Headline growth was attributed to CIRSA units achieving a combined peak operating income of €1.74bn, ahead by …

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CIRSA to expand international horizons as home units return to growth

SBC News CIRSA to expand international horizons as home units return to growth

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 …

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CIRSA takes over management of Tangier Casino  

SBC News CIRSA takes over management of Tangier Casino  

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 …

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CIRSA appoints Antonio Hostench as new Group CEO 

SBC News CIRSA appoints Antonio Hostench as new Group CEO 

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 …

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CIRSA beats expectations as business returns to operating profits  

SBC News CIRSA beats expectations as business returns to operating profits  

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 …

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