The Italian Lottomatica agreed to purchase its Catalan rival Cirsa this Tuesday, in an operation that will create a gambling giant with a market capitalization of around 9.2 billion euros. The new entity resulting from the merger will be listed on both Euronext Milan and the Spanish stock exchanges and the pan-European Stoxx Europe 600.
Cirsa, a company specializing in the gaming and entertainment sector, had a public offering of 453 million euros just 14 months ago. This short period between its stock market listing and its absorption by Lottomatica marks an unusual trajectory in the stock market.
The operation represents a significant consolidation in the European gaming sector, uniting two of the main companies in the sector. The combined company will have a size and geographic presence that will position it as one of the largest groups in the sector in Europe.
