By SectorWire desk ·
Lottomatica LTMC · EUR 24.11 2026-10-16 Data described a merger with Cirsa as low risk on 3 September. Angelozzi expressed confidence in Cirsa's management and said earlier deals had failed after Lottomatica sought excessive changes to acquired businesses.
Lottomatica’s merger assessment links confidence in Cirsa’s management with lessons from earlier deals that failed after excessive changes were sought.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
Cirsa shareholders would hold 32.5% of the combined company, subject to shareholder and regulatory approvals.
The proposed Lottomatica–Cirsa merger would create the second-largest listed gaming operator worldwide by EBITDA.
The merger values Cirsa at six times its expected 2026 EBITDA of €800m.
The signed plan sets out CIRSA’s proposed merger into Lottomatica, giving investors a formal agreement following September’s disclosure.
The approved cross-border merger plan sets terms and conditions for absorbing CIRSA into Lottomatica.
Board approvals advance the merger plan setting terms for Lottomatica to absorb CIRSA.