The boards of Lottomatica Group and CIRSA Enterprises have approved a merger plan under which Lottomatica absorbs CIRSA. The combination was first announced on September 2, 2026, and the two sides are working to a 2027 completion date.
CIRSA will cease to exist as a separate legal entity without a liquidation process, with all assets and liabilities passing to Lottomatica. The merged group is targeting annual revenue above €4.5bn and €744m of returns to shareholders.
CIRSA brings 450 gaming venues, more than 85,000 gaming machines and about 2,300 sports betting points. The companies expect €115m a year in synergies from savings on operating costs and interest expenses, with the effect showing by the third full year after closing.
Blackstone and key CIRSA managers who hold shares in the company have signed voting agreements with Lottomatica in support of the deal. The tie-up would create one of Europe's largest operators by land-based infrastructure and geographic reach.
