Blackstone Plans Cirsa IPO on Madrid Stock Exchange in 2025

Blackstone is preparing to make waves in the Spanish gambling market with plans to list Cirsa on the Madrid Stock Exchange in 2025. The firm plans to float 20% to 25% of shares.

Blackstone Prepares for a Landmark IPO in Spain’s Gambling Market

Blackstone, one of the world’s leading investment firms, is preparing for a major move in the Spanish gambling industry. According to recent reports, the company plans to list shares of Cirsa, a top Spanish gambling operator, on the Madrid Stock Exchange in the first half of 2025.

This strategic decision marks a new chapter for Cirsa, which Blackstone acquired in 2018, solidifying its foothold in the lucrative gambling markets of Spain and Latin America. The anticipated initial public offering (IPO) is expected to attract considerable investor interest, positioning Cirsa as a key player on the stock market.

Cirsa’s Growth Under Blackstone

Since acquiring Cirsa, Blackstone has played a pivotal role in its development. Cirsa, already a dominant force in the Spanish gambling sector, operates an extensive network of casinos, betting shops, and online gaming platforms.

In addition to its stronghold in Spain, Cirsa boasts significant operations across Latin America. Under Blackstone’s stewardship, Cirsa has expanded its operations and consistently improved its financial performance.

Why 2025 for Cirsa’s IPO?

Reports from the Spanish financial newspaper Expansión suggest that Blackstone plans to debut Cirsa on the Madrid Stock Exchange during the first half of 2025. This timeline allows sufficient time for strategic positioning and market preparation, ensuring a strong foundation for a successful public listing. Several factors likely influenced the decision to move forward with the IPO in 2025:

Market Conditions: Favorable economic trends and investor sentiment in the gambling sector.
Cirsa’s Financial Growth: Ongoing improvements in revenue and profitability under Blackstone’s management.
Regulatory Environment: Stability and growth opportunities in Spain and Latin America’s gambling markets.
Exit Strategy: Blackstone’s broader portfolio considerations and its objectives to partially exit while maintaining a stake in Cirsa.

Blackstone reportedly aims to raise between €700 million and €1 billion through the IPO. The firm plans to float 20% to 25% of Cirsa’s shares, enabling a partial exit strategy.

This approach allows Blackstone to capitalize on its investment while retaining a significant interest in the company for future growth potential. Based on the anticipated offering size, Cirsa’s valuation could range between €2.8 billion and €5 billion.