Cirsa Shares Rise Nearly 7% Following Lottomatica Deal
Spain.- 8 September 2026 | www.zonadeazar.com Cirsa shares recorded a sharp increase following news of its merger-by-absorption agreement with Lottomatica.
The Spanish group’s stock rose 6.83% to EUR18.46, making it the strongest performer on the Spanish stock market during the session.
Shares Up 16.76% This Year
The latest move adds to Cirsa’s positive stock-market performance during 2026.
Year to date, the company’s share price is now up 16.76%.
The post-announcement rally indicates a favourable initial market response to the proposed combination with Lottomatica.
Lottomatica Also Gains
Lottomatica shares posted a similar move on the Milan exchange.
The Italian group’s stock advanced 6.59% to EUR25.87.
Both companies therefore received a positive initial response following publication of the merger agreement.
Merger by Absorption
The transaction has been structured as a merger by absorption.
Under the agreement, Cirsa will be absorbed into Lottomatica and will cease to exist as a separate legal entity.
This will occur without Cirsa entering a liquidation process.
Creating a Global Gaming Leader
The companies said the combination is intended to create a global leader within the gaming sector.
The transaction will bring together the operations, assets and market presence of two significant gaming groups.
It represents one of the sector’s largest corporate transactions announced during 2026.
Cirsa Shareholders to Receive Lottomatica Stock
Under the transaction terms, Cirsa shareholders will receive 0.668 new Lottomatica shares for every Cirsa share held.
Once completed, existing Cirsa shareholders will own approximately 32.5% of the combined company’s share capital.
Corporate Structure Changes
The deal represents a significant structural change for Cirsa.
The Spanish group will cease to operate as an independent legal entity, while its current shareholders will become direct shareholders in Lottomatica.
The combination will therefore be implemented through an exchange of shares.
Blackstone Position
Cirsa is currently controlled by Blackstone.
The merger will alter the ownership structure of the combined group while providing Cirsa’s current shareholders with a significant position in the resulting company.
Their combined stake is expected to be approximately 32.5%.
Transaction Timetable
The merger could become effective in the second quarter of 2027.
Before completion, the companies must work through the necessary corporate and regulatory stages.
Both groups will continue operating independently while the transaction progresses.
Market Reaction
The simultaneous gains in Cirsa and Lottomatica shares provide an initial indication of investor sentiment towards the deal.
Markets responded positively to the prospect of integration and the creation of a larger-scale business.
Cirsa was the strongest-performing Spanish-listed stock during the session.
Greater Scale
The transaction will combine two major operators with activities across different markets and product verticals.
Greater scale may provide opportunities across areas including:
- Operations.
- Technology.
- Procurement.
- Finance.
- International expansion.
- Product development.
The actual benefits will depend on successful execution of the integration process.
Industry Context
The international gaming industry continues to experience consolidation through large-scale M&A transactions.
Operators are increasingly pursuing scale, geographic diversification and operating efficiencies through strategic combinations.
The Cirsa-Lottomatica transaction stands out as one of the most significant developments within that wider trend.
Next Steps or Impact
Cirsa and Lottomatica will now move forward with the steps required to complete the merger, currently expected in the second quarter of 2027.
Markets will closely follow regulatory approvals, ownership developments and integration planning.
The initial investor response has been positive, with both companies recording share-price gains of more than 6% following news of the agreement.
Editó: @fonta
