Added to YB: 2026-09-07
Pitch date: 2026-09-03
CIRSA.MC [neutral]
Cirsa Enterprises, S.A.
Author Info
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Company Info
Cirsa Enterprises, S.A. is a gaming company, together with its subsidiaries, engages in the operation of slot machines, casinos, and gaming halls in Panama, Mexico, Colombia, Spain, Peru, Costa Rica, Dominican Republic, and Morocco.
Market Cap
EUR 2.9B
Pitch Price
N/A
Price Target
N/A
Dividend
2.60%
EV/EBITDA
6.44
P/E
30.29
EV/Sales
2.00
Sector
Hotels, Restaurants and Leisure
Category
special_situation
Cirsa Enterprises (CIRSA Spain): Lottomatica merger adds scale, online capabilities and substantial synergies
CIRSA.MC (update): Cirsa’s all-share merger with Lottomatica would exchange each share for 0.668 Lottomatica shares plus a €1.56 dividend, worth about €18.1 at announcement — a 33% premium — and leave Cirsa holders owning 32.5% of a more diversified group with ~€2bn of pro forma adjusted EBITDA. €115m of annual synergies supports post-closing earnings growth, but value depends on Lottomatica’s share price, approvals and execution through the planned Q2 2027 close.
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