Cirsa is set to become one of the largest gambling operators in Peru after purchasing a 70% stake in Apuesta Total.
The size of the transaction was not disclosed, but Cirsa said it would be funded through available cash and would not significantly affect its leverage. The company added that the multiple paid for the acquisition is consistent with prior online deals it has undertaken.
The agreement also includes a put and call structure that would allow Cirsa to acquire the remaining shares within the next few years.
Since its founding in 2014, Apuesta Total has enjoyed robust growth, most recently reporting over €100m GGR in FY 2023.
