$LTMC (-0,52%)
$CIRSA (-0,92%)
$BX (-0,69%)
Here’s a quick update on the latest developments, which are extremely exciting for the gambling market and for shareholders:
🎰 Mega-Merger: Lottomatica Snaps Up Cirsa! The Italian gambling giant plans to acquire its Spanish competitor, Cirsa Enterprises. This will create a true global market leader in the sports betting and gaming sector.
The new scale: The merged company will have an adjusted pro forma EBITDA of around 2 billion euros.
Who owns what? Lottomatica shareholders will hold 67.5% of the shares, while Cirsa owners will hold 32.5%.
Blackstone, Cirsa’s previous majority owner, will become the new group’s largest single shareholder with a stake of around 24%.
Market reaction: Following the announcement, the stock plummeted by about 9% on the Milan Stock Exchange to approximately 22.50 EUR. Many investors appear to be using the news as an opportunity to rebalance their portfolios.
