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CIRSA and Lottomatica approve merger plan ahead of November shareholder votes

Deals & M&A

CIRSA and Lottomatica’s boards approved a joint merger plan, according to reports, with shareholder meetings scheduled for 23 November for Lottomatica and 25 and 26 November for CIRSA. Completion remains planned for the second quarter of 2027, subject to shareholder approval and regulatory authorisations. CIRSA shareholders would receive 0.668 Lottomatica shares for each share, with no cash component.

The plan sets the exchange terms and approval timetable for a proposed consolidation between two gambling groups.

End-of-day close Cirsa (CIRSA), EUR, to 6 November 2026
Story date31 August 20266 November 2026

Latest reported results

CIRSA BME: CIRSA

Quarter ended 30 September 2026

Revenue
EUR 627.6m

Lottomatica Euronext Milan: LTMC

Quarter ended 30 September 2026

Revenue
EUR 526.4m

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Deals & M&A

Lottomatica agrees to absorb Cirsa in €13.2bn cross-border merger

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.

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