Lottomatica and CIRSA agree to merger to create global gaming giant

Lottomatica CIRSA gaming industry merger Blackstone sports betting

Lottomatica and CIRSA have entered into a binding agreement for an all-share merger that will create the world's second-largest listed gaming and sports betting operator. The transaction, structured as a cross-border merger, will see CIRSA absorbed by the Italian firm Lottomatica.

The combined entity is expected to generate approximately €2 billion in adjusted EBITDA and will hold leading market positions in Italy and Spain, as well as significant operations in Morocco and Peru. The new company will maintain Lottomatica's name and headquarters in Rome, with a secondary headquarters for CIRSA in Barcelona. The group is expected to trade on both Euronext Milan and Spanish stock exchanges.

Under the terms of the deal, CIRSA shareholders will receive 0.668 Lottomatica shares for each CIRSA share held. Following the merger, existing Lottomatica shareholders will control approximately 67.5% of the new company, while CIRSA shareholders will own about 32.5%. Blackstone, the majority owner of CIRSA, is expected to become the largest individual shareholder with a 24% stake and will have the right to nominate two board members.

Before the merger is finalized, CIRSA plans to distribute an extraordinary dividend of approximately €262 million to its shareholders. The transaction is subject to regulatory approvals and shareholder votes, with completion anticipated in the second quarter of 2027.

Entities

Barcelona · Blackstone · CNMV · Cirsa · Euronext Milan · Lottomatica · Rome

Claims

What the coverage asserts, and how many sources carry each claim.

[● 6 SOURCES] The combined entity is expected to generate approximately €2 billion in adjusted EBITDA. www.economiadigital.es · www.lacronicabadajoz.com · pulse2.com · www.soldionline.it · gestion.pe · +1 more
[● 5 SOURCES] Blackstone is expected to become the largest individual shareholder of the new entity with an estimated 24% stake. lemaroc360.com · www.insider.gr · www.lacronicabadajoz.com · pulse2.com · gestion.pe
[● 11 SOURCES] The merger is an all-share transaction where CIRSA shareholders will receive 0.668 Lottomatica shares for every CIRSA share held. lemaroc360.com · www.jamma.it · capital.es · www.insider.gr · www.lacronicabadajoz.com · +6 more
[● 8 SOURCES] The merger will create the world's second-largest publicly traded gaming and sports betting operator. lemaroc360.com · businesselitesafrica.com · www.insider.gr · www.lacronicabadajoz.com · pulse2.com · +3 more
[● 4 SOURCES] Lottomatica will retain its name and headquarters in Rome, while CIRSA will maintain a secondary headquarters in Barcelona. www.economiadigital.es · pulse2.com · gestion.pe · www.vilaweb.cat
[● 4 SOURCES] The merger is projected to be completed during the second quarter of 2027. capital.es · www.farodevigo.es · gestion.pe · www.vilaweb.cat
[● 4 SOURCES] CIRSA will distribute an extraordinary dividend of approximately €262 million to its shareholders before the merger is finalized. www.jamma.it · capital.es · pulse2.com · www.soldionline.it
[● 17 SOURCES] Lottomatica and CIRSA have signed a binding agreement for a cross-border merger where CIRSA will be absorbed by Lottomatica. lemaroc360.com · www.jamma.it · businesselitesafrica.com · capital.es · www.economiadigital.es · +11 more