Blackstone's Cirsa Plans to Raise $459 Million in Spain IPO

Published: 2025-06-18 03:40:12 ET BX

Published on 06/18/2025 at 03:40

By Najat Kantouar

Blackstone's Cirsa, a Spanish casino operator, plans to launch an initial public offering in Spain with the goal of raising 400 million euros ($459.3 million) to boost its growth strategy.

The gambling company intends to apply for its shares to be admitted for trading on Spanish stock exchanges, it said Wednesday. The move comes seven years after Cirsa's acquisition by Blackstone.

The offering will also include a sale of existing shares valued at 60 million euros by Blackstone to settle taxes and other expenses. The transaction comprises a customary over-allotment option to the joint global coordinators of the IPO, it said.

The listing is subject to market conditions and regulatory approvals, the company said.

Cirsa is an international gambling platform operating in 11 countries, exclusively in regulated markets. Last year, it generated net operating revenue of 2.15 billion euros and earnings before interest, taxes, depreciation and amortization of 699 million euros.

Write to Najat Kantouar at [email protected]

(END) Dow Jones Newswires

06-18-25 0339ET