Grupo CIRSA buys majority stake in Apuesta Total
The move makes CIRSA the biggest gambling group in Peru.
Peru.- Spain’s Grupo CIRSA has bought a 70 per cent stake in Apuesta Total, making the Blackstone-owned group the biggest player in the Peruvian gambling market. It has committed to acquiring the remaining 30 per cent of shares in the coming years to gain complete control of the company.
Present in the market since 1996, CIRSA has 19 land-based casinos in Peru, along with 74 betting points and 3,200 slot machines. It’s now the majority shareholder in what is Peru’s biggest sportsbook operator, which has 500 betting outlets. Apuesta Total generated revenue of over €100m last year and it has predicted growth of 30 per cent for 2024, boosted by the recent Copa América and Euro 2024 championships.
CIRSA said the acquisition aligned with its strategy to expand online. Perú introduced regulations for online gaming and betting in March of this year. It follows the acquisitions of EPlay24 and Modena Giochi in Italy and Ganabet in Mexico.
In May, CIRSA reported an operating profit of €164m for Q1, a rise of 8.6 per cent year-on-year. The results came amid speculation that Blackstone will launch an IPO. Reports suggest that the firm has contracted Barclays, Morgan Stanley and Deutsche Bank to prepare the ground for a public listing.
In February, the Ministry of Foreign Trade and Tourism (MINCETUR) named Yuri Guerra Padilla as president of the Peruvian gambling regulator, the Dirección General de Juegos de Casino y Máquinas Tragamonedas (DGJCMT). The news came after MINCETUR announced the departure of Eduardo Sevilla Echevarría from the position.
