CIRSA will not pursue a public listing in 2024, as the investors of the heritage Spanish gambling group have reportedly “parked plans for an IPO”.
Concluding 2023 trading, CIRSA announced that it had changed its legal identity to the new name ‘CIRSA Enterprises’, reflecting the firm’s business transformation since its majority acquisition by private equity giant Blackstone in 2018.
The change in name was reported alongside news that CIRSA management had deferred plans for a public offering, heavily speculated last year as Blackstone was stated to be “reviewing its Spanish options”.
During 2023, Blackstone was reported to be eyeing a +$3bn public listing for CIRSA, securing a significant premium on the PE fund’s $2bn acquisition of the heritage gambling group around six years ago.
