Lottomatica to absorb Cirsa in all-share merger

Lottomatica is absorbing Spain's Cirsa in a cross-border merger: Cirsa shareholders receive 0.668 new Lottomatica shares per share, with no cash component. The group would become the world's second-largest listed gaming and betting operator, headquartered in Rome with a second seat in Barcelona province, and Blackstone would be the largest shareholder with about 24%. Enterprise values are €8.1bn (Lottomatica) and €5.1bn (Cirsa), and the merger is to take effect in the second quarter of 2027. Added retroactively with the date of the first announcement (Euronext, 02.09.2026; second source: Expansión, 04.11.2026).