Lottomatica Group and CIRSA have approved their common merger plan, moving forward with the combination announced in September 2026. The Lottomatica CIRSA merger will see the Spanish gaming operator absorbed into the Italian group. Completion is expected in Q2 2027.

• Both companies approved the merger plan on October 8, 2026. CIRSA shareholders will receive 0.668 new Lottomatica shares for each CIRSA share. Independent expert BDO Auditores confirmed the fairness of the exchange ratio.
• CIRSA plans to distribute an extraordinary dividend of EUR 262 million before the merger. This corresponds to EUR 1.56 per share. Following completion, Lottomatica also intends to propose a EUR 744 million capital return to shareholders.
• The Lottomatica CIRSA merger still requires shareholder and regulatory approvals. Both companies expect to hold shareholder meetings by the end of November 2026. Regulatory filings have been submitted in Italy, Spain, Mexico, Morocco and to the European Commission.
• Lottomatica will remain headquartered in Rome, with Guglielmo Angelozzi continuing as CEO. Blackstone will be entitled to appoint two directors to the enlarged 13-member board. Lottomatica shares will remain listed in Milan, with additional listings planned in Spain.
• The merger is expected to become effective in Q2 2027. The combined business will cover online gambling, sports betting and land-based gaming across several markets.

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