Plans revealed for Cisra's IPO to fuel growth ambitions and tackle debt obligations
Hear ye, hear ye! 🚀 Here's the lowdown on Cirsa, the ravishing gambling juggernaut headquartered in sunny España!
Cirsa's got its eyes set on going public, baby! They're aiming to raise a whopping €460 million through an IPO on Spanish stock exchanges. You can catch their shares listed on the Barcelona, Bilbao, Madrid, and Valencia stock exchanges.
Why, you ask? Well, that €400 million is meant to fund future mergers and acquisitions, plus offset some debt. Since 2015, Cirsa's been on a world tour, snapping up over 130 companies, and now they run 451 casinos, 268 gaming halls, and operate 35,679 slots and 645 tables in 7 different countries - Spain, Italy, Portugal, Peru, Colombia, Panama, and Mexico.
Barclays Bank Ireland, Deutsche Bank, Morgan Stanley Europe, BBVA, Jefferies, Mediobanca - Banca di Credito Finanziario., Société Générale, and UBS Europe are all hopping aboard this epic journey as joint global coordinators and joint bookrunners.
Once the funds are in the bank, Cirsa's net leverage ratio will drop to roughly 2.7x. That's some serious financial sleight of hand, my friends! 🤑
Joaquim Agut, the chairman of Cirsa, dropped a wisdom bomb: "This IPO is a major milestone in Cirsa's history. Founded in Terrassa in 1978, we've built a stellar track record with операции in 11 countries, always playing fair in regulated markets."
Antonio Hostench, Cirsa's CEO, chimed in: "We're an innovative company that beautifully merges physical and online gambling. With this IPO, we're ready to pen a new chapter in our spectacular growth story."
In their most recent financials, Cirsa reported a 12.5% increase in net revenue to a cool €576.7 million for Q1 of 2025. That's baller moves right there! 💸
One last thing: the primary proceeds, around €375 million, will be put towards funding Cirsa’s growth strategy and repaying existing debt to keep that net leverage ratio in check. We all know that a healthy financial relationship is key in this game! 🔥
So there you have it, folks! Get ready to cheer for Cirsa as they embark on this exciting public journey! 🎉🍾🥳
In the realm of Cirsa's IPO, funds raised from the mergers and acquisitions will be allocated towards funding growth, as well as settling existing debts to maintain a balanced net leverage ratio, ensuring financial stability in their gambling operations, which encompasses 35,679 slots and 645 tables across 7 countries, including casinos and gaming halls. The finance sector, with the support of Barclays Bank Ireland, Deutsche Bank, Morgan Stanley Europe, BBVA, Jefferies, Mediobanca - Banca di Credito Finanziario., Société Générale, and UBS Europe, is backing Cirsa in this grand expansion, providing a significant boost to the casino industry.
