{"id":8296,"date":"2024-12-03T06:17:30","date_gmt":"2024-12-03T06:17:30","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/12\/03\/blackstone-to-launch-cirsas-ipo-on-madrid-exchange-targets-1-1-billion\/"},"modified":"2024-12-03T06:17:30","modified_gmt":"2024-12-03T06:17:30","slug":"blackstone-to-launch-cirsas-ipo-on-madrid-exchange-targets-1-1-billion","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/12\/03\/blackstone-to-launch-cirsas-ipo-on-madrid-exchange-targets-1-1-billion\/","title":{"rendered":"Blackstone to Launch Cirsa\u2019s IPO on Madrid Exchange, Targets $1.1 Billion"},"content":{"rendered":"
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In the first half of 2025, the private equity firm Blackstone plans to float shares of Cirsa, a well-known Spanish gaming operator, on the Madrid Stock Exchange. According to Spanish news outlet Expansi\u00f3n, the move is anticipated to generate between \u20ac700 million and \u20ac1 billion ($732 million to $1.1 billion). With the help of prominent investment banks Barclays, Deutsche Bank, and Morgan Stanley, 20\u201325% of Cirsa\u2019s shares will be offered in this partial initial public offering. Lazard has been chosen to serve as the deal\u2019s financial advisor.<\/p>\n

A Strong Recovery After Blackstone\u2019s Acquisition<\/strong><\/h2>\n

Blackstone acquired Cirsa in 2018 for \u20ac2 billion from the company\u2019s founder, Manuel Lao Hernandez. Since the acquisition, Cirsa has made a remarkable recovery from the economic fallout of the pandemic. The company\u2019s financial performance has improved significantly, with expectations to surpass \u20ac2 billion in net revenues in 2024. It is also forecasted to report an EBITDA of \u20ac680 million to \u20ac710 million, along with a leverage ratio ranging between 3.7x and 3.9x.<\/p>\n

Cirsa operates one of the largest gaming networks in Spain, including more than 30,000 gambling machines, 40 bingo halls, six casinos, and 237 arcades. Beyond Spain, Cirsa has expanded its operations into Latin America. Earlier this year, the company secured a 70% stake in Apuesta Total, a leading Peruvian gaming operator, adding 500 betting points, 19 casinos, 3,200 slot<\/a> machines, and an online sportsbook to its growing portfolio.<\/p>\n

Blackstone had initially intended for Cirsa to undergo a complete initial public offering (IPO). However, the decision was made to pursue a partial float instead, given the company\u2019s robust recovery and ongoing corporate reorganization. This change demonstrates Cirsa\u2019s strong financial position as well as its capacity to keep up its expansion plans, especially in the Latin American market.<\/p>\n

Blackstone\u2019s choice to list Cirsa shows that it is dedicated to optimizing shareholder value and setting up Cirsa for future expansion in the international gaming industry.<\/p>\n

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