Blackstone's Cirsa IPO Valued at 2.52 Billion Euros

Blackstone Inc. has valued its investment in Cirsa, a Spanish casino operator, at 2.52 billion euros in the company's initial public offering (IPO). Cirsa operates casinos and hotels in several countries, including Spain, Italy, and Argentina. The IPO is expected to raise funds for Blackstone to pursue other investment opportunities. The valuation of Cirsa reflects the growing popularity of the gaming industry and the increasing demand for luxury travel and leisure experiences.

Blackstone Inc. has valued its investment in Cirsa, a leading Spanish casino operator, at €2.52 billion in the company's initial public offering (IPO). Cirsa, which operates casinos and gambling platforms in Spain, Italy, Morocco, and Latin America, is set to list on the Spanish stock exchange this year. The IPO is expected to raise funds for Blackstone to pursue other investment opportunities [1].

The IPO will see newly-issued shares priced at €15 per share, with a potential for an additional €68 million worth of shares to be issued under a green-shoe option if demand is strong. The bookrunners of the IPO include BBVA, Jefferies, Mediobanca, Societe Generale, and UBS [1]. This IPO is the first in Spain since travel tech company HBX Group raised €725 million in February [1].

Cirsa's valuation reflects the growing popularity of the gaming industry and the increasing demand for luxury travel and leisure experiences. The company's expansion into Portugal and Puerto Rico last year further underscores its ambitions in the global gaming market. The IPO is a significant milestone for Cirsa, marking its entry into the public markets and providing investors with a new opportunity to participate in the company's growth [1].

References:
[1] https://finance.yahoo.com/news/blackstones-cirsa-gambling-company-seeks-124824861.html