Cirsa Debuts on Spanish Market at €15 Valuation of €2.52 Billion

Cirsa, a leading gambling company backed by Blackstone, successfully launched its IPO on the Spanish stock market, achieving a valuation of approximately €2.52 billion and setting its share price at €15. The offering included 26.6 million newly issued shares and 3.55 million existing shares, raising around €521 million to support Cirsa's ongoing aggressive M&A strategy and debt reduction, particularly repaying €375 million in bonds. The IPO was significantly oversubscribed, reflecting strong investor confidence, and was managed by prominent financial institutions such as Mediobanca, Société Générale, UBS, Jefferies, and BBVA. Cirsa operates across 11 markets, including Spain, Italy, Morocco, Portugal, Puerto Rico, and Latin America, with recent expansions into Portugal and Peru. The company aims to use the IPO proceeds to accelerate growth, expand its market presence, and generate organic cash flow between €400 million and €500 million from 2025 to 2027. Cirsa's CEO highlighted the IPO as a defining step in the company's growth trajectory, with shares trading on multiple Spanish exchanges including Barcelona, Madrid, Bilbao, and Valencia.