Blackstone-owned gambling company CIRSA is planning an IPO in Spain

MADRID (Reuters) – Blackstone gaming company Cirsa said Wednesday it plans to raise up to 460 million euros ($529.46 million) in its first public offering of shares on the Madrid Stock Exchange this year.

The company plans to sell up to 400 million euros in newly issued shares and an additional 60 million euros in secondary share sales, the company said in a statement.

Spain-based CIRSA said it plans to use revenues to drive growth and pay off debts.

The statement did not specify the intended stake size that CIRSA floats or the rating it is aiming for.

The company operates casino and gambling platforms in Spain, Latin America, Morocco and Italy, and enrolled in Portugal and Puerto Rico in 2024.

Cirsa said revenue before interest, taxes, depreciation and amortization was €699 million in 2024, and net revenue was €2.15 billion.

Morgan Stanley, Barclays and Deutsche Bank are co-global coordinators of the offering.

The first public offering will be in Madrid, as Spain’s Clean Energy and Water Utility Cox was released last November.

($1 = 0.8688 Euro)

(Reporting by Yadalisa Savon of Bengaluru and Inti Landolo of Madrid, edited by Niviveta Bhatachaljee, Andres Gonzalez and Jane Merriman)