Blackstone Considers €3 billion IPO For Cirsa
Blackstone the private equity firm that is currently discussing a takeover of Australian casino operator Crown Resorts for $6.2 billion has announced it is to offer a public listing to another of its businesses.
According to reports in Spain the giant equity firm has hired investment bank Lazard to look at listing Spanish gambling company Cirsa, which has betting shops and casinos in the country and in South America.
Back in 2018 Blackstone acquired the gambling company for €2 billion. Cirsa was founded back in 1978 by Manuel Lao Hernández who is one of the richest people in Spain.
The gambling company has 147 casinos, 178 gaming halls, 70 bingo halls, 2,000 betting shops and 75,000 gaming machines spread across Spain, Italy and Central and South America.
It is not certain that the IPO will go ahead but if it does would mark a sizeable profit for the equity company as it is expected to raise up to €3 billion.
