Blackstone plans $3.4 bln IPO for bookmaker Cirsa, Spanish paper says

Blackstone plans $3.4 bln IPO for bookmaker Cirsa, Spanish paper says

Private equity giant Blackstone (BX.N) is planning a public listing of Spanish gambling company Cirsa next year in a deal that could be valued at up to 3 billion euros ($3.4 billion), Spain’s Cinco Dias newspaper reported on Thursday.

Blackstone acquired Cirsa, which operates casinos and betting shops across Spain and Latin America, in 2018 for an undisclosed sum.

Cinco Dias said Blackstone had contracted investment bank, Lazard, to advise on the deal, which it aims to carry out around April next year.

Blackstone and Cirsa did not immediately respond to requests for comment.

($1 = 0.8830 euros)

Source: Reuters

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