U.S.-based private equity giant Blackstone Group is buying most of the assets of CIRSA Gaming Corp., one of the leading operators of casinos and machine gaming venues in Spain, Italy and Latin America.
CIRSA, based in Terrassa, near Barcelona, owns or manages 300 casinos and slot parlors, 70 bingo halls and 2,000 betting outlets, an estate comprising more than 75,000 machine games in all.
In the last year, CIRSA has opened or acquired 25 casinos and gaming halls in South America, five in Spain, two in Mexico and bought a controlling interest in Barcelona machine operator Miky.
The company posted operating profit of €427 million in 2017 on operating income of €1.7 billion, an increase of 6.4 percent year on year.
CEO Joaquim Agut, who is credited with much of the company’s growth over the last decade, will assume the title of chairman of the new group.
“We are excited to support Joaquim and his strategy in this new stage as well as the expansion of CIRSA both at an organic level and through acquisitions and in new geographical areas,” said Lionel Assant, head of private equity for Blackstone Europe.
The sale does not include the company’s Argentina operations, which will be run separately by CIRSA founder Manuel Lao Hernandez.
