Spanish Gambling Group CIRSA Aims for €5 Billion IPO
Kate Marshal
28 May 2024
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Spanish gambling group CIRSA is setting its sights on an initial public offering (IPO) in the stock exchange, as reported by Economía Digital.
The company has already engaged investment banks Morgan Stanley, Deutsche Bank, and Barclays to pave the way for its IPO.
CIRSA’s goal? To raise a substantial €5 billion through this move.
Back in 2018, American investment management company Blackstone acquired CIRSA from its founder, Manuel Lao Hernandez, for €2 billion.
Fast-forward to the end of 2023, and CIRSA reported impressive net revenue of €1.91 billion, accompanied by operating profits of €80 million. The growth trajectory continues into 2024. Just this week, CIRSA announced net revenue of €513 million for the first quarter, with an EBITDA of €169 million.
In Spain, CIRSA operates an extensive network of over 30,000 gaming machines across entertainment and hospitality venues, along with 40 bingo halls, 6 casinos, and 237 gaming arcades.
But that’s not all — the company also boasts a presence in Colombia, Mexico, Peru, and Puerto Rico.
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