Tag Archives: Manuel Lao Hernandez

CIRSA orders Catalan makeover to complete Giga Games acquisition

Following a review by Spain’s Competition & Markets Commission (CNMC), Grupo CIRSA has been ordered to restructure its Catalonian commercial presence in order to complete its acquisition of slot machine and arcade hall operator Giga Games. CNMC has ordered CIRSA governance to dispose of two of its Barcelona bingo halls, whilst further demanding that the Blackstone owned gambling group ‘terminate …

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Crowded field pitches up for BA online gambling tender

As anticipated the upcoming Buenos Aires online gambling tender will see a raft of international gambling operators’ partner with Argentine enterprises seeking to secure one of seven IPLyC licenses.  Setting a 25 June deadline for final applications, this May, BA’s regulatory gambling body IPLyC published its ‘official criteria for competition’, outlining key venture requirements to compete for BA-7 licenses. Though …

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Blackstone continues Spanish affair acquiring Giga Games

Spanish Gambling firm Grupo CIRSA has confirmed that it has acquired slot machine distributor and gaming hall operator Giga Games, from Spanish private leisure and gambling fund Conei Corporacion. The transaction sees the Lao Hernandez family engage once more with US private equity group Blackstone, who last year acquired CIRSA from Spanish gambling tycoon Manuel Lao Hernandez for approximately €1.5 billion. …

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CIRSA explores further international opportunities despite LATAM woes

Spanish gambling firm Grupo CIRSA has overcome all-round LATAM currency woes to post a successful Q2 2018 trading update, as the company continues its expansion plan under the ownership of Blackstone Capital. Publishing its latest corporate update, CIRSA governance reports a 3% increase in group revenues to €358 million for Q2 2018. Despite recording circa €3 million in negative LATAM …

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Organic Cirsa fails to escape LATAM currency woes

Presenting its final trading update as an independent enterprise, Spanish gambling operator Grupo Cirsa SA reports progress on its home and LATAM expansion projects, despite its corporate performance being hindered by severe LATAM currency impacts. Reporting strong growth across its Spanish home market properties (Spanish EBIT up 10%), Cirsa reports combined group revenues of €4.17 billion. Nevertheless, Spanish growth could …

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Blackstone confirms acquisition of Grupo Cirsa

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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Private Equity giants monitoring Cirsa Spain movements

Speculation is growing with regards to Spanish gambling firm Grupo Cirsa’s future, as a number of private equity firms are reportedly monitoring the Barcelona-based operator. This week, Bloomberg News reports that PE firms Blackstone Group and Cerebeus Capital Management, two seasoned investors in global gambling enterprises, are weighing up bids for the Spanish casino and bingo-hall operator. Furthermore, former Caesar …

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