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Iowa Racing and Gaming Commission approves Elite Casino Resorts’ acquisition of Great River Entertainment

Deals & M&A

The Iowa Racing and Gaming Commission approved Elite Casino Resorts’ planned acquisition of Great River Entertainment in Iowa, the company announced. The transaction, covering Catfish Bend Casino and FunCity Resort, is expected to close on 27 January 2026; Elite said it plans to rename Catfish Bend Great River Casino Resort.

The approval advances a transaction that would transfer ownership of two Iowa casino properties to Elite Casino Resorts.

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Deals & M&A

Capula takes €65 million positions in CIRSA-Lottomatica merger

Capula Investment Management has taken positions in CIRSA and Lottomatica ahead of their proposed merger, reportedly seeking to benefit from a difference in their share prices and the exchange value. Its declared CIRSA exposure is about €30 million, while its short position in Lottomatica is valued at about €35 million; the integration is planned for Q2 2027, subject to approvals.

Capula Investment Management has reportedly taken positions in CIRSA and Lottomatica ahead of their planned merger. The arbitrage strategy seeks to benefit from differences between the companies' share prices and the value resulting from the deal.

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