The European Commission (EC) has approved the acquisition of leading gaming operator Cirsa Gaming Corporation by U.S. investment fund Blackstone Group.
On April 27, Blackstone purchased the entire company from businessman Manuel Lao Hernández.
According to a statement from the EC, the operation does not raise competition conflicts, given the limited impact of the purchase on the structure of the market.
The EC added that the transaction was examined in accordance with the simplified merger review procedure.
Cirsa, a global company based in Terrassa (Barcelona), manages 147 casinos, 178 salons, more than 75,000 recreational machines, 70 bingo halls and 2,000 sports betting points in Spain, Italy and Latin America.
The group also develops online gambling activity in Spain, Colombia and Panama, and in 2017 achieved an operating profit of €427 million, a 7.2 percent increase, while its operating income increased by 6.4 percent up to €1.716 billion.
