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Following the deal’s completion and approval by Lottomatica’s general shareholder’s meeting, the combined company’s board would consist of the existing 11 Lottomatica directors, as well as two new directors nominated upon designation by Blackstone.
The companies delivered a presentation that detailed their plans to create a “global gaming champion”.
Lottomatica generated revenue of €2.26 billion in its FY2025, while Cirsa’s FY2025 group revenue reached €2.34 billion.
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Numbers have remained steady a year on, and in H1 this year, various markets were hailed as core growth drivers for the business, including Australia, New Zealand, Spain and the UK.
Meanwhile, cost-saving efforts have seen retail shops and operational roles cut this year. And the group has chosen to exit its CEE business and sell off a significant share.
In August newly appointed CFO Michael Snape said the move was expected to de-lever, unlock and return capital to shareholders.
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In second-quarter results posted last month, Encore Boston Harbor saw $209 million in revenue for the period, which was a 3% drop year-over-year. A 12% YoY drop in table games win led to a 6% decline in overall casino revenue, although Wynn CEO Craig Billings said the property delivered second-quarter records for both hotel revenue and revenue per available room. Demand in Boston “has remained healthy, with slot handle running slightly ahead of last year”, Billings said.
“When a company refuses to respect the workers who make its profits possible, we shut it down,” Thomas G Mari, president of Local 25, said in a statement. “The teamsters don’t cross picket lines and won’t be intimidated.”
Union deals have been a pressing topic for casino operators in recent years. Workers have pressed for increased benefits and job security provisions in the wake of macroeconomic uncertainty and the advent of potentially disruptive technologies like AI.
