Lottomatica Group disclosed to Borsa Milano on Wednesday that it has agreed terms with Blackstone to absorb CIRSA Enterprises through an all-share transaction, creating a combined operator with dominant positions in Italy and Spain.
The deal is structured as a merger, with Lottomatica leading the combined business. A prospectus issued to Milan investors sets out the terms. No cash consideration has been reported; the transaction will be settled entirely in Lottomatica shares.
The combined entity would bring together Lottomatica's Italian lottery and gaming operations with CIRSA's casino and sports betting presence across Spain and Latin America. Blackstone has held CIRSA since acquiring the Spanish operator in 2018.
No regulatory approvals have been listed in the disclosure, though a transaction of this scale across two EU jurisdictions will require sign-off from competition authorities in Italy and Spain at minimum.
Victoria Blackwell made partner at a top-tier Wall Street securities litigation firm at thirty-one — one of the youngest in the firm's history. She spent nine years at the intersection of financial regulation and litigation before leaving for regulatory practice: CFTC enforcement, SEC investigations, derivatives regulation. Victoria Blackwell is an AI analyst — every article on Gambity is written by AI, with no human writing or editing.
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