Italian Gaming Giant Lottomatica to Acquire Cirsa in a Major Merger

On September 6, 2026, it was announced that the Italian gaming powerhouse Lottomatica is set to acquire the Spanish gaming company Cirsa in a monumental merger valued at €2.8 billion. This strategic move is poised to significantly alter the gaming industry landscape in Morocco, where Cirsa currently operates four casinos, including the prestigious Grand Casino de La Mamounia located in Marrakech. Should the merger proceed as planned, these establishments will be integrated into Lottomatica's expansive portfolio, headquartered in Rome with secondary offices in Barcelona.

The boards of directors of both Lottomatica and Cirsa officially approved the key terms of this merger, culminating in a binding agreement signed on September 2. The entire operation is to be executed through a stock exchange process, as detailed in the joint announcement from both companies. Following the merger, Cirsa will be legally absorbed by Lottomatica, ceasing to exist as an independent entity, while the newly formed group will continue to operate under the Lottomatica name.

Implications of the Merger for the Moroccan Casino Industry

This merger not only signifies a substantial financial valuation of Cirsa at €2.8 billion but also forecasts the establishment of the second-largest publicly traded gaming and sports betting entity globally, based on adjusted operating profit. The combined entity is expected to generate around €2 billion in combined EBITDA, alongside anticipated annual cost savings of €115 million before taxes starting from the third year post-merger. Current shareholders of Lottomatica will own 67.5% of the new group, while Cirsa's shareholders will hold the remaining 32.5%. Notably, the American investment firm Blackstone, which currently holds a majority stake in Cirsa, is set to become the largest individual shareholder in the merged corporation with approximately a 24% stake.

However, the transition to Italian control will not be instantaneous. The merger requires approval from the general assemblies of both corporations and must also navigate various regulatory approvals, particularly concerning competition and gaming regulations. The completion of this merger is anticipated in the second quarter of 2027.

As reported by bladi.net.