Blackstone's Cirsa aims to raise €460 million through an IPO.

Cirsa, a leading Spanish gambling company owned by Blackstone, announced on Wednesday its plans to launch an Initial Public Offering (IPO). The company aims to raise up to €460 million through a listing on the Madrid Stock Exchange.

The company has applied to be potentially listed on the Valencia, Bilbao, and Barcelona stock exchanges, which would increase the number of exchanges where its shares could be traded to four. This announcement marks a major advancement for the company. In a statement about the upcoming IPO, Cirsa Chairman Joaquim Agut commented: Today's announcement represents a significant milestone in our company's history. Founded in Terrassa in 1978, we have an impressive track record and operate exclusively in jurisdictions where gaming is regulated, with a presence in 11 countries. While a specific listing date has not been announced, it is expected to occur this year. The company plans to sell €400 million worth of newly issued shares, along with €60 million of secondary shares. Cirsa has not detailed how many shares will be made available, but this information is anticipated to be released in the coming days or weeks. Cirsa has long been a dominant force in Latin American and Spanish-speaking markets globally, securing a strong presence in various countries. Moreover, Cirsa has expanded into non-native language markets, including Portugal, Morocco, and Italy.

The company operates over 451 casinos and gaming rooms in the jurisdictions where it is licensed, along with 2,500 sports betting locations and 85,000 slot machines. Throughout its 20-year history, Cirsa has expanded globally by acquiring overseas assets and reinforcing its leadership in key markets. Our growth was further accelerated by our transformative alliance with Blackstone in 2018, which has been crucial to our success, Agut said, emphasizing the significance of the Blackstone deal in the company's recent history. With Cirsa's online gambling and betting divisions experiencing growth, the company is expected to attract investors when the IPO is finally launched.