Blackstone is considering various strategic options for its Spanish gambling asset Grupo CIRSA, in which the US private equity fund is reported to favour an initial public offering (IPO). The development comes as the fund is reported to have invited proposals from investment banks to manage a potential share sale and refinance CIRSA existing long-term debt, which according to the latest accounts, stands at circa €2.3bn. …
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Grupo CIRSA has lauded its 2022 financial recovery as all core business units “return and outperform pre-COVID 2019 trading”. Full-year 2022 results saw the Blackstone-owned Spanish gambling group declare an operating profit of €552m, up 66% on the corresponding FY2021 result of €331m. Headline growth was attributed to CIRSA units achieving a combined peak operating income of €1.74bn, ahead by …
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Grupo CIRSA has announced the appointment of Antonio Hostench as new Chief Executive of the Blackstone-owned Spanish markets gambling group. Yesterday, the board of CIRSA informed stakeholders that it had decided to split the duties of CEO and Chairman that Joaquim Agut had served since 2018, following US PE fund Blackstone’s buyout of the company. Agut will now solely act …
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Spanish business news source Economia Digital reports that Grupo CIRSA has sued joint-venture partner Ladbrokes (GVC Holdings) in relation to the ownership structure of its ‘Sportium’ subsidiary. Economia Digital reports that, in July 2018, CIRSA governance filed a Madrid Court challenge against Ladbrokes stating that Sportium joint-venture terms and agreements had been completely altered by GVC Holdings £4 billion takeover of …
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US multinational private equity firm Blackstone Group has expanded its industry portfolio acquiring Spanish gambling operator Grupo Cirsa and its related assets. Deal stakeholders have chosen not to disclose financial terms, however Cirsa advisors have previously stated that the firm’s sale would target a €2 billion valuation. The Spanish operator’s outright sale has been mooted for a long time by …
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Spanish gambling operator Grupo CIRSA has continued its strong 2015 momentum, reporting profits up 16% to €280 million for its year to date performance (period ending 30 September). The Barcelona based operator would record a 19.5% revenue uplift to £1.2 billion driven by sufficient expansion in its Latin American markets notably Costa Rica and Peru. To date, the operator maintained …
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Spanish gambling operator Grupo CIRSA were pleased to announce an improved corporate performance for 2014 as the company finished 2014 strongly. The Barcelona based operator recorded improved revenues of 22% to €360 million for full year 2014. The improvement in revenue performance carried through to CIRSA’s top line metrics as the operator recorded a 2014 net profit of €56 million. …
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