Cirsa launches on Barcelona stock exchange
Spanish casino operator Cirsa, owned by Blackstone, has made Spanish history by launching on the Barcelona stock exchange, securing a €2.5bn valuation and raising €400m in fresh capital on its first day of trading.
It was Spain’s largest IPO for a decade. The company offered 26.6m new shares with the hope of reducing debt and ‘generating the maximum value’ for its clients and stockholders to be able to ‘better compete in a globalized world,’ Cirsa President Joaquim Agut said.
He added that among over 250 international investors, there were major investors including BlackRock, Santander and Norges. “There has been a lot of interest,” Mr. Agut added.
Mr. Agut stated: “Today we have experienced a historic moment for CIRSA, the ringing of the bell at the Barcelona Stock Exchange. This marks the beginning of a new stage for our Group and reaffirms our commitment to sustainable growth and long-term value creation. Thank you to all the people who have made it possible.”
CIRS CFO Antonia Grau added: “This marks the culmination of months of hard work and dedication. Huge thanks go to the entire CIRSA team for making this possible, and to the Blackstone team for their continued support and guidance. For over 20 years, we’ve built a strong track record in the public debt markets—consistently delivering on our commitments, quarter after quarter. Now, we begin a new chapter as a listed company, with the same level of discipline and ambition in the equity capital markets.
“We are grateful as well to our bankers, lawyers, auditors, and many others for their professionalism and dedication throughout the process, and a very special thank you to our 250+ new shareholders for placing their trust in us. Let’s keep building together.”
CIRSA, which operates roughly 450 casinos in 11 countries, generated €576,7m in operating revenue and €179m in operating profit in the first quarter of 2025, surpassing its previous quarterly records once again. Driven by a clear well-defined strategy and solid operational execution, the year began with a 12.5 per cent increase in operating revenue and a 9.1 per cent increase in operating profit compared to the first quarter of 2024.
The casino division sustained its positive momentum in the first quarter of 2025, building on the success of previous quarters. Over 15 renovations and expansions launched this quarter, underscoring a strong commitment to enhancing customer experience.
