$3.3 billion merger pulls Morocco’s biggest casino operator into global betting giant
Italy’s Lottomatica acquires Spanish rival CIRSA, merging Morocco’s top casino operator into a global betting giant.Summary
Italy’s Lottomatica has agreed to acquire Spanish gaming company CIRSA in a $3.3 billion deal, creating the world’s second-largest listed gaming and sports-betting operator by adjusted earnings, behind Flutter Entertainment. The merger combines Lottomatica’s dominant Italian business with CIRSA’s leading position in Spain and Morocco, where CIRSA operates casinos in Agadir, Tangier, and Marrakech. Under the deal, CIRSA investors will receive 0.668 Lottomatica shares per share held, with existing Lottomatica shareholders retaining 67.5% and CIRSA shareholders 32.5%. Blackstone, which acquired CIRSA in 2018, will become the largest shareholder with 24% and gain two board seats. The merged entity will retain the Lottomatica name and Rome headquarters, with secondary offices in Barcelona. Completion is targeted for Q2 2027, pending approvals. The deal is expected to generate €2 billion in pro forma adjusted EBITDA and achieve €115 million in annual savings. Morocco’s casinos, tied to its growing tourism sector, will now operate under a larger European-controlled group, though no new African investments are planned.
(Source：Business Insider)