An Italian giant takes over four casinos in Morocco (including La Mamounia’s)

The boards of directors of Lottomatica and Cirsa approved the main terms of their merger and signed a binding merger agreement on September 2. The transaction will be carried out entirely in shares, according to the companies’ joint statement.

Cirsa will be legally absorbed by Lottomatica and will cease to exist as an independent entity. The new group will retain the name Lottomatica and its headquarters in Rome, with secondary offices in Barcelona.

On Bladi.net : The La Mamounia (Marrakech) casino passes into the hands of a Spanish group

The merger includes Cirsa’s Moroccan operations. The Spanish group operates four casinos in the Kingdom: two establishments in Agadir, one in Tangier and La Mamounia’s Grand Casino in Marrakech, of which it acquired 50% of the capital in November 2025. Cirsa has been present in Morocco since 2016.

A European gaming giant

The transaction values Cirsa at €2.8 billion. The merged company would become the world’s second-largest listed gaming and sports-betting group in terms of adjusted operating profit, with approximately €2 billion in combined Ebitda. The two companies also expect €115 million in annual pre-tax savings from the third year following the merger.

Lottomatica’s current shareholders will hold 67.5% of the new group, compared with 32.5% for Cirsa’s shareholders. The US fund Blackstone, currently Cirsa’s majority shareholder, will nevertheless become the largest individual shareholder in the merged group, with a stake of approximately 24%, Reuters reports.

The move under an Italian flag will not be immediate. The merger must still be approved by the general meetings of both companies and receive several regulatory authorizations, particularly regarding competition and gambling. Its completion is scheduled for the second quarter of 2027.