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Cirsa and Lottomatica approve proposed merger ahead of November votes

Deals & M&A

Cirsa and Lottomatica’s boards approved a proposed cross-border merger, with Lottomatica as the absorbing entity, according to company disclosures to Spain’s CNMV. Shareholders are expected to vote on the agreement in late November 2026; the combination remains subject to regulatory authorisations and other conditions, with completion expected in Q2 2027.

The merger remains contingent on shareholder votes, regulatory authorisations and other conditions before expected completion.

End-of-day close Cirsa (CIRSA), EUR, to 6 November 2026
Story date28 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

Cirsa shares reach intraday record as Lottomatica confirms 2026 outlook

Cirsa shares rose more than 4.5% during Wednesday’s session, reaching an intraday record and approaching €20, after Lottomatica reported quarterly results and confirmed its 2026 outlook. Lottomatica reported adjusted EBITDA of €665 million, up 8%, and expects adjusted operating profit at the upper end of its €940 million to €980 million range; the proposed merger remains subject to approvals and a Cirsa shareholder vote on 30 November.

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