{"id":690,"date":"2025-06-10T16:00:40","date_gmt":"2025-06-10T16:00:40","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=690"},"modified":"2025-09-22T12:09:59","modified_gmt":"2025-09-22T12:09:59","slug":"blackstone-again-considering-initial-public-offering-of-spanish-gaming-group-cirsa","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/06\/10\/blackstone-again-considering-initial-public-offering-of-spanish-gaming-group-cirsa\/","title":{"rendered":"Blackstone Again Considering Initial Public Offering of Spanish Gaming Group Cirsa"},"content":{"rendered":"<ul>\n<li><strong>Blackstone is reportedly considering a Cirsa IPO<\/strong><\/li>\n<li><strong>Cirsa is a large Spain-based gaming organization<\/strong><\/li>\n<li><strong>Cirsa manages over 400 casinos and gaming halls<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p class=\"p1\"><span class=\"s1\">The Blackstone Group is reportedly once again considering bringing on individual investors and mutual funds to its Cirsa Gaming Corporation holding.<\/span><\/p>\n<figure id=\"attachment_354463\" aria-describedby=\"caption-attachment-354463\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"size-post-thumbnail-858xAUTO wp-image-354463 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"Cirsa Blackstone Group casino IPO\" width=\"858\" height=\"572\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/06\/shutterstock_2133400937-858x572-1.jpg\"><figcaption>Casino Cirsa Valencia in Spain is pictured on March 4, 2022. Cirsa, owned by The Blackstone Group, could soon go public through an IPO on the Madrid Stock Exchange. (Image: Shutterstock)<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">Blackstone, which is heavily invested in the global gaming marketplace, with its holdings including Crown Resorts and several properties on the Las Vegas Strip, acquired Cirsa in 2018.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Cirsa operates more than 400 casinos and gambling halls in Spain, Italy, and Latin America. The Spanish gaming company additionally manufactures and distributes slot machines and has an iGaming and online sports betting business.<\/span><\/p>\n<div class=\"callout\">\n<p class=\"p1\"><span class=\"s1\">In the years after Blackstone acquired Cirsa for a sum that wasn&#8217;t made public &#8212; though it was estimated to be in the neighborhood of $2.6 billion &#8212; <a href=\"https:\/\/www.casino.org\/news\/blackstone-eyeing-another-ipo-try-of-spanish-gaming-operator-cirsa\/\">rumors swirled<\/a> that the private equity giant might take the enterprise public through an initial public offering. Such rumblings were reported in 2021, 2023, and earlier this year.<\/span><\/p>\n<\/div>\n<p class=\"p1\"><span class=\"s1\">Blackstone ultimately opted not to take Cirsa public in years past, instead opting to inject the corporation with almost $300 million to reduce leverage. Now, however, the timing might be more attractive.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\"><b>Rival Shares Surging<\/b><\/span><span class=\"s1\"><b>\u00a0<\/b><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">In February, reports emerged that Blackstone was again reviewing a possible Cirsa IPO. <i>Reuters <\/i>reported that Blackstone was considering offering a placement of between 700 million to $1 billion euros, which the investment management firm would use to pay down debt.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-10\/blackstone-said-to-mull-launch-of-cirsa-ipo-in-coming-weeks\"><i>Bloomberg <\/i><\/a>reports that a Cirsa offering could be attractive, as one of its primary competitors &#8212; Italian gaming giant Lottomatica Group &#8212; has seen its shares soar more than 150% since its 2023 debut.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In 2024, Cirsa&#8217;s operating revenues climbed to $2.92 billion, up over 7% from 2023. Earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by 11% to nearly $800 million.<\/span><\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\"><span class=\"s1\">No final decisions have been made, and the timing and structure of the transaction are subject to change,&#8221; the <i>Bloomberg <\/i>report detailed.<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">Blackstone and Cirsa both declined to comment on the speculation.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\"><b>Cirsa Gaming Group<\/b><\/span><span class=\"s1\">\u00a0<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Cirsa employs about 15K people in the many countries where it runs casinos and gambling products.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Cirsa has casinos in Colombia, Costa Rica, the Dominican Republic, Mexico, Morocco, Peru, and Spain. Cirsa additionally manages 280 gaming rooms that last year welcomed about 7.6 million visitors, the company claims.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Cirsa operates online and retail sports betting under the Sportium brand. The Sportium platform additionally operates online casino gaming in European markets where iGaming is allowed.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Along with providing slots for its casinos and gaming halls, Cirsa&#8217;s Amusement Machines division develops, manufactures, and distributes gaming terminals across Europe and Latin America.<\/span><\/p>\n<div class=\"callout\">\n<p class=\"p1\"><span class=\"s1\">In addition to Crown Resorts, the largest casino company in Australia, Blackstone has ownership positions in the physical assets of The Cosmopolitan, Bellagio, Aria, and Vdara on the Las Vegas Strip.<\/span><\/p>\n<\/div>\n<p class=\"p1\"><span class=\"s1\">Recently, speculation has risen about Blackstone making a play for ailing <a href=\"https:\/\/www.casino.org\/news\/blackstone-may-be-mulling-star-entertainment-buy-with-a-catch\/\">Star Entertainment<\/a>, Australia&#8217;s other casino operator in the country&#8217;s gaming duopoly. Such an acquisition would be dependent on regulators agreeing to allow a single entity to control Australia&#8217;s gaming industry.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Blackstone is considered the largest private equity firm in the world in terms of assets under management (AUM). At the end of 2024, Blackstone had $941 billion in total AUM.<\/span><\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/blackstone-again-considering-ipo-spanish-gaming-group-cirsa\/\">Blackstone Again Considering Initial Public Offering of Spanish Gaming Group Cirsa<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone is reportedly considering a Cirsa IPO Cirsa is a large Spain-based gaming organization Cirsa manages over 400 casinos and gaming halls The Blackstone Group is reportedly once again considering bringing on individual investors and mutual funds to its Cirsa Gaming Corporation holding. Casino Cirsa Valencia in Spain is pictured on March 4, 2022. Cirsa, owned by The Blackstone Group, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/690"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=690"}],"version-history":[{"count":2,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/690\/revisions"}],"predecessor-version":[{"id":693,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/690\/revisions\/693"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/692"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=690"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}