Lottomatica and CIRSA boards sign off merger plan ahead of November votes
Lottomatica and CIRSA approved a joint plan on 8 October to merge, with CIRSA absorbed into Lottomatica. Shareholders vote in late November and completion is expected in the second quarter of 2027 if approvals come through.
Neither company is a South African licence holder, and the deal does not change what is legal for players here. It is a sign of the industry consolidating into fewer, larger groups, which can shape the products, payment options and safer gambling standards that reach regulated markets over time. South African players should treat it as industry background rather than a reason to change where or how they play.
What was approved
Italy's Lottomatica Group and Spain's CIRSA announced a binding all-share combination on 2 September 2026. On 8 October their boards approved the joint merger plan that sets the formal terms. CIRSA will be absorbed into Lottomatica through an EU cross-border statutory merger, and Lottomatica will remain as the surviving company, with its name and Rome headquarters.
The key terms
CIRSA shareholders will receive 0.668 new Lottomatica shares for each CIRSA share. Before the merger takes effect, CIRSA plans an extraordinary dividend of €1.56 a share, about €262 million in total. Lottomatica intends to propose a further €744 million capital return after completion.
- Current Lottomatica shareholders would own roughly 67.5% of the combined company and CIRSA holders about 32.5%.
- Blackstone, CIRSA's largest shareholder, would hold around 24% and nominate two directors.
- Guglielmo Angelozzi stays as chairman and chief executive, with Laurence Van Lancker as chief financial officer.
- The companies expect about €115 million in yearly pre-tax cash synergies by the third full year after completion.
These figures come from the companies' own announcement, so they are claims by the parties rather than independent findings.
Approvals still needed
CasinoBeats reports that filings have gone to regulators in Italy, Spain, Mexico and Morocco, and to European authorities for foreign-subsidy review. It also reports shareholder meetings in late November 2026 and a cash withdrawal right of €13.20 a share for CIRSA holders who vote against, with completion conditional on withdrawals staying below 5% of CIRSA's shares. The expected effective date is the second quarter of 2027. Until then the two companies remain separate.
What it means for South African players
The combined group is built around Italy, Spain and Latin American markets, not South Africa. There is no change to licensing here and no effect on sites that accept South African players. The wider point is consolidation: fewer large operators means more weight behind shared technology and player protection tools, but also less competition. For comparisons of individual casinos, see our casino reviews, and remember that gambling carries a real risk of loss.
What to watch next
The late November shareholder meetings, regulatory decisions in Italy and Spain, and the number of CIRSA holders who use their withdrawal right will show whether the second quarter 2027 target holds.