The merger plan formalises the proposed combination first announced on September 2
The boards of Lottomatica Group and CIRSA Enterprises are aiming for a 2027 completion date, following the approval of a common merger plan, which will see Lottomatica absorb CIRSA,
The merger plan formalises the proposed combination first announced on September 2, 2026. CIRSA will cease to exist as a separate legal entity without undergoing liquidation, while Lottomatica will remain. The combined group is targeting annual revenues exceeding €4.5bn ($5.03bn) and a €744m ($831.43m) shareholder capital return following completion.
“Lottomatica, as the absorbing company, will acquire all assets and assume all liabilities and other legal relationships of CIRSA,” Lottomatica stated.
Cirsa owns 450 gaming venues, operating more than 85,000 gaming machines, nad has around 2,300 sports betting points.
The two companies envisage €115m of highly visible pre-tax cash synergies per year from opex and interest cost savings, expected to be realised by the third full year post-completion. Blackstone and CIRSA key management owning shares in CIRSA have signed agreements with Lottomatica whereby they assumed vis-à-vis Lottomatica an undertaking to vote in favour of the proposed combination.