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He said Cirsa wass already a well-managed company and in previous deals, it had tried to make too many changes to an asset. “First of all, in many cases you had M&A which was of assets that were second tier. The promise was to completely change the nature and the competitive position of the asset, in many cases, a turnaround.
“In this case, it’s a completely different situation. You have a group, not a single company in a single country, a group which has been a solid group for 10 years and delivering. There’s no turnaround to be made. It’s already very well managed. It’s number one in its markets.”
The combined company will be listed on stock exchanges in both Spain and Italy, which Cirsa and Lottomatica are already market leaders in.Italy accounted for 57% of a combined group pro format adjusted EBITDA in H1. Spain made up 23% of that figure, with Rest of World at 20%.
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The state-backed Nederlandse Loterij has ordered the operators of the unauthorised gambling site Skyhills to cease serving Dutch players.
This action came in the wake of a recent court ruling in a separate case involving Lalabet.
On Tuesday, Nederlandse Loterij announced it had sent a cease-and-desist notice to companies and directors connected with Skyhills across several jurisdictions, including Costa Rica, North Macedonia, the United Kingdom, Curaçao, Malta and the Marshall Islands.
How to play Bonanza
Mircheva’s resignation will be effective from Friday, although she will remain with the company until the end of September to “ensure a seamless leadership transition”, with the search for her replacement already under way.
George Papanier has taken on Mircheva’s role as CFO on an interim basis. Papanier will continue in his current roles as Bally’s president and a member of its board of directors.
Papanier has over 40 years of experience in the gaming industry, previously serving as CEO between February 2011 and October 2021 having first joined the company as COO in 2004.
