Blackstone is reportedly reconsidering an initial public offering for Spanish gaming group Cirsa, which it acquired in 2018. No final decision has been made, and the proposed transaction’s timing and structure could change; Blackstone and Cirsa declined to comment.
An IPO could change Cirsa’s ownership and provide a route to reduce its debt, though no terms have been settled.
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Lottomatica Group and CIRSA Enterprises have approved a plan for Lottomatica to absorb CIRSA, the companies announced. CIRSA shareholders would receive 0.668 Lottomatica shares for each share exchanged and an extraordinary dividend of €1.56 per share, totalling about €262 million; after completion, Lottomatica intends to propose a further €744 million capital return. The merger remains subject to regulatory approvals and shareholder votes expected by the end of November 2026.
Lottomatica Group and CIRSA Enterprises agreed a plan for CIRSA to merge into Lottomatica, with completion expected in the second quarter of 2027 if shareholder, regulatory and other conditions are met. CIRSA shareholders would receive 0.668 newly issued Lottomatica shares per share, and CIRSA plans to pay an extraordinary dividend of €1.56 per share before completion.
Cirsa and Lottomatica reportedly plan about €1bn in extraordinary shareholder payments linked to their proposed merger. The plan includes a €262m payment to Cirsa shareholders at €1.56 per share and a further €744m distribution after the merger; Deutsche Bank and Barclays have provided a bridge loan of up to €1bn with a 12-month maturity.
Lottomatica’s announced all-share merger with CIRSA drew mostly positive analyst assessments, according to press reports dated 3 September 2026. Under the terms reported, each CIRSA share would receive 0.668 new Lottomatica shares; Lottomatica shareholders would own about 67.5% of the combined group and CIRSA shareholders, through Blackstone, 32.5%.
Lottomatica and Cirsa have agreed to a cross-border merger in which Lottomatica will absorb Cirsa, according to reports. Cirsa shareholders would receive 0.668 new Lottomatica shares per share and hold about 32.5% of the combined company; Cirsa also plans a €262m special dividend before completion. The deal remains subject to shareholder votes and regulatory approvals, including competition, foreign investment and gambling clearances.