Bidders lining up for Cirsa?

The rumour mill continues to swirl that Cirsa Gaming Corp. is weighing up acquisition prospects with several major hedge funds wooing Spain’s major casino, bingo hall and online operator.

According to numerous Spanish media outlets, Apollo Global Management, Advent International, Blackstone Group and Cerberus Capital Management are all in the mix following the appointment of financial advisory firm Lazard Ltd. by owner Manual Lao Hernandez back in November 2017.

Lazard Ltd. was reportedly tasked at the time with exploring various prospects which included an IPO, a merger, an outright sale or the sale of a minority stake.

A Euro 2 billion price tag was estimated at the time in the advent of an outright sale.

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