According to unnamed sources, the Spanish businessman is exploring different opportunities for his companies, including initial public offering and even a minority stake sale. Sources believe that both options will draw interest among investors.
Other opportunities that are reportedly discussed by Lao Hernandez involve the sale of the whole company or a merger with an interested business operation. It is believed that Cirsa could be sold for around €2 billion, in case a deal of this kind is agreed upon. The sources told Bloomberg that other gambling companies could be tempted by the opportunity to buy or merge with the major Spanish operator.
Cirsa was established back in the late 1970s and has since then expanded into an operator of bingo halls and casinos across Spain and other countries. The company currently owns over 134 land-based casinos, nearly 70 bingo halls, 2,000 betting shops, and more than 170 arcades in Spain, Italy, and across Latin America.
It was reported that Cirsa is currently discussing all available opportunities with financial consultant Lazard Ltd. According to sources, a final decision is yet to be made and it is is believed that Lao Hernandez could actually decide that no transactions would take place in near future.
If Cirsa agrees on any form of consolidation, this could be yet another major deal of this kind within the global land-based gambling space.
As mentioned above, Cirsa is believed to hold the potential to attract major investors from the gambling space and to snatch over €2 billion from a potential sale of its business.
Source: GMB / Casino News Daily
