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Finance

Blackstone's Cirsa gambling company seeks $2.95 billion valuation in IPO

Published by Global Banking and Finance Review

Posted on June 30, 2025

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MADRID (Reuters) -Blackstone's gambling company Cirsa will seek a valuation of 2.52 billion euros ($2.95 billion) in an initial public offering of shares worth 400 million euros on the Spanish stock exchange this year, one of the bookrunners said on Monday.

Cirsa operates casinos and gambling platforms in Spain, where it is the largest casino operator, Italy, Morocco, as well as in Latin America. It entered Portugal and Puerto Rico last year.

The company intends to launch newly-issued shares at an initial price of 15 euros per share, according to a document form one of the bookrunners seen by Reuters.

It could issue an additional 68 million euros worth of shares as part of a so-called green-shoe option, if demand is strong enough.

Bookrunners of the planned IPO include BBVA, Jefferies, Mediobanca, Societe Generale and UBS.

The IPO would be the first one in Spain since travel tech company HBX Group raised 725 million euros in February.

($1 = 0.8536 euros)

(Reporting by Inti Landauro, editing by Andrei Khalip)