Cirsa approves binding share-swap merger with Lottomatica
Cirsa Enterprises announced approval of a binding agreement for a proposed share-swap merger with Lottomatica Group. Under the stated terms, Cirsa shareholders will receive 0.668 newly issued Lottomatica shares for each Cirsa share, and shares representing 100% of Cirsa’s current share capital are expected to represent approximately 32.5% of Lottomatica’s share capital after completion. The merger is expected to become effective in Q2 2027.
This is a concrete, forward-looking corporate action: the Reuters-attributed source explicitly reports that Cirsa approved a binding proposed share-swap merger with Lottomatica and provides the exchange ratio, expected post-transaction ownership and Q2 2027 timing. The headline has been narrowed to avoid implying that Lottomatica separately approved the agreement, and the separately mentioned approximately €262 million dividend is excluded to preserve atomicity. A supplied grounding source disputes independent public verification, so confidence and timestamp confidence are reduced from the prior values; however, the specific Reuters report is sufficient to retain the development as approved. The exact exchange-qualified Cirsa symbol shown in the source, BME:CIRSA, is approved, as is BX because the supplied context identifies Blackstone as owning approximately 80% of Cirsa; indirect gaming peers, suppliers and service providers are too speculative. No Lottomatica ticker was provided, so none is added.
ANNOUNCES APPROVAL OF BINDING AGREEMENT IN RELATION TO A PROPOSED MERGER WITH LOTTOMATICA GROUP S.P.A.
A transformational all-share merger creates a global gaming leader with €2 billion EBITDA, combining market leadership in Italy and Spain and expanding into high-growth markets.
The deal targets €150 million in cost synergies, maintains strong capital returns, and accelerates online growth by leveraging advanced technology, with completion expected in Q2 2027.