Blackstone-backed Cirsa carves out Giga Games

Blackstone acquired Cirsa from its founder, Manuel Lao Hernández, in April 2018. The GP bought the company's operations in Spain, Italy and Latin America, with the exception of the Argentinean business, which continued to exist as a separate entity managed by Lao Hernandez. The deal was valued at around €1.5bn.

Blackstone deployed capital from its fund Blackstone Capital Partners VII to finance the acquisition. The vehicle, launched in October 2014, held its final close in December 2015 on $18bn, exceeding its initial target.

Company
Founded in 1998 and based in Barcelona, Giga is a gaming operator specialising in distributing and managing slot machines for bars, arcades, bingo halls and casinos. The company reported revenues of €124m in 2018.

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• Topics
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• Southern Europe
• Consumer
• Blackstone Group
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• Spain