Cirsa Plans €400 million IPO to Support Future M&A Activity
Spanish operator Cirsa has announced plans to move forward with an IPO on Spanish stock exchanges, aiming to raise €400 million ($460.4 million).
Cirsa announced June 18 that its IPO will include a primary offering of new ordinary shares, targeting a €400 million raise to fuel growth and bolster its capital structure.
The IPO proceeds will also support future mergers and acquisitions, as Cirsa plans to maintain its aggressive M&A strategy, having completed over 130 acquisitions since 2015.
Cirsa holds a presence in 11 countries, including the LatAm markets of Colombia, Mexico and Peru, the latter of which it entered last year after acquiring a 70 percent stake in leading Peruvian operator Apuesta Total.
Brazil Senator Opposing Land-Based Casino Bill Over Criminal Links
Sen. Eduardo Girão has voiced opposition to the bill legalizing land-based casinos in Brazil, citing concerns about a potential rise in criminal activity.
Girão has consistently opposed gambling regulation in Brazil, but with the licensed online market already live, a vote on legalizing physical casinos is now reportedly being considered before the Senate recess in July.
Girão argues that recent media reports on increased betting-related money laundering show why legalizing land-based casinos would be a mistake.
“You can read the headlines of O Globo, Estadão and Folha recently, showing that organized crime has never laundered so much money, never made so much profit from the advent of gambling,” Girão explained. “And what is the problem in Brazil today? Basically, it is public safety.”
Betting CPI Report Rejected in Rare Move
The report of the Parliamentary Inquiry Commission (CPI) on betting has become the first to be rejected in a decade.
The CPI on betting was established last November, and the report of its rapporteur, Senator Soraya Thronicke, sought to indict 16 people, while also proposing a number of measures aiming at making the betting environment safer for players.
However, in a rare move the CPI report was rejected by four votes to three, meaning none of Thronicke’s measures will be adopted.
It ends the work of the CPI, which has been hugely controversial, facing accusations of extortion in December, before the Senate President refused to extend its deadline, describing it as a “circus”.
Betano Named Official South American Partner for Club World Cup
Betano has been named as the official South America partner of FIFA’s Club World Cup soccer competition, which is currently being held in the U.S.
The partnership between Kaizen Gaming-owned Betano and FIFA follows on from the pair’s collaboration for the international World Cup in Qatar in 2022.
It also demonstrates a continuation of Betano’s commitment to sponsoring major soccer competitions, with the company also sponsoring the top-flight leagues in both Argentina and Brazil.
Kaizen Gaming co-founder and CEO George Daskalakis revealed his excitement to be once again working with FIFA, saying: “It is a privilege to work closely with FIFA for a tournament that brings together millions of fans from all around the world as they get to watch the best club teams and players football has to offer.”
Brazil’s ANJL Goes to Court Over Anti-Gambling Supermarket Association Video
The National Association of Games and Lotteries (ANJL) has filed a lawsuit demanding the Brazilian Association of Supermarkets (ABRAS) clarify the source of claims made in a social media video critical of betting.
On June 16, ANJL criticized ABRAS’ video “History of Bets,” which connected the legal betting industry to food insecurity in Brazil.
ABRAS’ video says each real wagered on betting means “one less dish on the table” and a “bill that is late,” claiming the retail sector lost BRL103 billion ($18.7 million) in 2024 revenue because of gambling.
ANJL President Plínio Lemos Jorge responded, saying: “The retail sector has decided to choose someone to blame for the rise in food prices on families’ tables. And, in their opinion, betting companies are responsible. This is absurd.”
