Lottomatica has notified Borsa Italiana of a proposed all-share combination with CIRSA Enterprises, according to reports on 2 September 2026. CIRSA shareholders would receive 0.668 newly issued Lottomatica shares for each share held, giving them about 32.5% of the combined company; the transaction remains proposed.
The proposed transaction would combine two gambling groups and change their ownership structure if completed.
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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.
Cirsa shares rose 6.83% in Spain on 7 September after the merger agreement with Lottomatica became known, according to reports. Cirsa shareholders would receive 0.668 new Lottomatica shares for each share held, giving them about 32.5% of the combined company. The merger could take effect in the second quarter of 2027, with Cirsa ceasing to exist as a separate legal entity.
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.
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