In a significant move to the Peruvian gambling landscape, Grupo CIRSA has acquired a 70 per cent stake in Apuesta Total.
It’s a deal that sees the operators expand its presence to the biggest gambling group in the region. At the heart of CIRSA’s growth in Latin America has been the increased presence of land-based casinos from the group.
As announced, Blackstone-owned CIRSA has become the majority shareholder of Apuesta Total, Peru’s biggest sportsbook, operating 500 betting locations across the Andean nation’s provinces and municipal districts.
In 2023, Apuesta Total generated revenues exceeding €100m. CIRSA has committed to acquiring the remaining 30 per cent of Apuesta Total shares in the coming years, ensuring full control over the company.
Furthermore, it elevates CIRSA’s Latin America expansion into new online gambling and sports betting sectors, building on their growth with the acquisition of Ganabet in Mexico.
Gonzalo Pérez, General Manager of Apuesta Total, projects a 30 per cent growth in revenues by the end of 2024, driven by major events like the Copa América and the UEFA Euros. The growth supports CIRSA’s investment decision, anticipating increased demand for online sports betting and gambling in Peru.In Spain, speculation mounts on owner Blackstone tracking €5bn IPO path for CIRSA, having returned the company to growth in 2023, in which CIRSA reports revenues of €1.9bn and corporate profits of €80m.
