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U.S. private giant Blackstone Group announced the acquisition of Spanish casino and bingo-hall operator Cirsa Gaming Group, which operates in Spain, Italy and Latin America, with the exception of the Argentinean business, which will continue to exist as a separate entity under the rule of Cirsa founder Manuel Lao Hernandez.
Details of the deal weren’t disclosed, however the Barcelona-based Cirsa had been anticipated to fetch someplace between €2b and €2.5b by way of the hedge fund bidding struggle that started in February.
Cirsa’s current empire includes 147 casinos, 178 salons, 70 bingo halls, over 2k sports betting points of sale and over 75k gaming machines. Cirsa is also a joint venture partner with UK bookmaker Ladbrokes in the Sportium sports betting operation. The company’s 2017 revenue exceeded €1.7b and extended Cirsa’s streak of consecutive quarterly earnings growth to 47.
