Has the Italian Casinos and Gaming Industry valuation changed over the past few years?

There is only one company in the Italian Casinos and Gaming industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.

How does Italian Casinos and Gaming compare with similar industries?

There are no additional sub-industries under this industry.

Italian (Borsa Italiana) Casinos and Gaming Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 02 Sep 2026	€5.8b	€2.3b	€220.3m	26.4x	26.4x	2.5x
Fri, 31 Jul 2026	€5.6b	€2.3b	€220.3m	25.3x	25.3x	2.4x
Sun, 28 Jun 2026	€5.8b	€2.3b	€190.5m	30.5x	30.5x	2.6x
Tue, 26 May 2026	€6.0b	€2.3b	€190.5m	31.7x	31.7x	2.7x
Thu, 23 Apr 2026	€6.1b	€2.2b	€174.3m	35x	35x	2.7x
Sat, 21 Mar 2026	€6.2b	€2.2b	€174.3m	35.5x	35.5x	2.8x
Mon, 16 Feb 2026	€5.1b	€2.2b	€145.9m	35.2x	35.2x	2.3x
Wed, 14 Jan 2026	€5.2b	€2.2b	€145.9m	35.8x	35.8x	2.4x
Fri, 12 Dec 2025	€5.5b	€2.2b	€145.9m	37.5x	37.5x	2.5x
Sun, 09 Nov 2025	€4.8b	€2.2b	€145.9m	33.1x	33.1x	2.2x
Tue, 07 Oct 2025	€5.5b	€2.2b	€142.8m	38.7x	38.7x	2.5x
Thu, 04 Sep 2025	€5.7b	€2.2b	€142.8m	39.8x	39.8x	2.6x
Sat, 02 Aug 2025	€5.8b	€2.2b	€142.8m	40.5x	40.5x	2.6x
Mon, 30 Jun 2025	€5.8b	€2.1b	€120.5m	47.7x	47.7x	2.7x
Wed, 28 May 2025	€5.9b	€2.1b	€120.5m	49.3x	49.3x	2.8x
Fri, 25 Apr 2025	€4.9b	€2.0b	€98.6m	50x	50x	2.5x
Sun, 23 Mar 2025	€4.5b	€2.0b	€98.6m	46.1x	46.1x	2.3x
Tue, 18 Feb 2025	€4.2b	€1.9b	€59.8m	69.6x	69.6x	2.2x
Thu, 16 Jan 2025	€3.3b	€1.9b	€59.8m	55x	55x	1.8x
Sat, 14 Dec 2024	€3.2b	€1.9b	€59.8m	54.3x	54.3x	1.8x
Mon, 11 Nov 2024	€3.0b	€1.9b	€59.8m	50x	50x	1.6x
Wed, 09 Oct 2024	€2.9b	€1.7b	€54.7m	52.8x	52.8x	1.7x
Fri, 06 Sep 2024	€2.8b	€1.7b	€54.7m	52.1x	52.1x	1.6x
Sun, 04 Aug 2024	€2.8b	€1.7b	€55.1m	51.6x	51.6x	1.7x
Tue, 02 Jul 2024	€2.8b	€1.7b	€55.1m	50.6x	50.6x	1.7x
Thu, 30 May 2024	€2.7b	€1.7b	€55.1m	48.6x	48.6x	1.6x
Sat, 27 Apr 2024	€2.6b	€1.6b	€68.3m	38.5x	38.5x	1.6x
Mon, 25 Mar 2024	€2.8b	€1.6b	€68.3m	40.5x	40.5x	1.7x
Wed, 21 Feb 2024	€2.9b	€1.6b	€77.4m	37.7x	37.7x	1.9x
Fri, 19 Jan 2024	€2.6b	€1.6b	€77.4m	33.1x	33.1x	1.6x
Sun, 17 Dec 2023	€2.5b	€1.6b	€77.4m	31.9x	31.9x	1.6x
Tue, 14 Nov 2023	€2.3b	€1.6b	€77.4m	29.3x	29.3x	1.4x
Thu, 12 Oct 2023	€2.2b	€1.5b	€66.6m	33.1x	33.1x	1.4x
Sat, 09 Sep 2023	€2.3b	€1.5b	€66.6m	34.8x	34.8x	1.5x


IT Market	-1.37%
Consumer Discretionary	-1.09%
Hospitality	-1.74%
Casinos and Gaming	-1.78%
Hotels, Resorts and Cruise Lines	0.89%
Restaurants	-2.97%
Leisure Facilities	-3.25%

	Company	Last Price	7D	1Y	Valuation
No data available

Announcement • 2h

Lottomatica Group S.p.A. (BIT:LTMC) entered into a binding merger agreement to acquire Cirsa Enterprises, S.A. (BME:CIRSA) from LHMC Midco S.à r.l. and other shareholders for €3.3 billion.

Lottomatica Group S.p.A. (BIT:LTMC) entered into a binding merger agreement to acquire Cirsa Enterprises, S.A. (BME:CIRSA) from LHMC Midco S.à r.l. and other shareholders for €3.3 billion on September 2, 2026. The consideration consists of common equity of Lottomatica Group S.p.A. at a ratio of 0.668 per common equity of Cirsa Enterprises, S.A. As part of consideration, an undisclosed value is paid towards common equity of Cirsa Enterprises, S.A. The Proposed Combination will be implemented through an EU cross-border statutory merger by way of absorption of CIRSA by Lottomatica, pursuant to which CIRSA will cease to exist as a separate legal entity, without undergoing any liquidation process, and Lottomatica will continue as the surviving entity (the “Combined Company”), with CIRSA shareholders receiving newly issued Lottomatica shares in exchange for their CIRSA shares. Combined Company to be listed on the Euronext Milan and the Spanish Stock Exchanges. Following effectiveness of the Transaction, current Lottomatica shareholders are expected to own 67.5% of the share capital of the Combined Company, while current CIRSA shareholders will hold the remaining, 32.5%. Blackstone, CIRSA’s largest shareholder, is expected to become the largest shareholder of the Combined Company with approximately 24% of the share capital. The Proposed Combination will create a global leading sports betting and gaming player, with number one positions in Italy and Spain, and leading presence in other high-growth markets. Following the effectiveness of the Transaction, the Board of Directors of the Combined Company will have 13 members: the existing 11 directors of Lottomatica and 2 new directors nominated upon designation by Blackstone. Guglielmo Angelozzi will serve as Chairman and Chief Executive Officer of the Combined Company and Laurence Van Lancker as Chief Financial Officer and Deputy Chief Executive Officer. Antonio Hostench will serve as Chief Executive Officer of CIRSA and Antonio Grau as Chief Financial Officer of CIRSA. Based on the agreed terms, CIRSA’s implied pro forma value, before synergies, corresponds to a 2026E EV/EBITDA multiple of approximately 6x. The combined company will have a pro forma Adjusted EBITDA of approximately €2 billion and leadership positions in Italy and Spain. The agreement envisages pre-tax cash synergies of around €115 million annually, arising mainly from operating and financial savings, which are expected to materialize by the third full fiscal year following completion. Completion of the Proposed Combination will be subject to customary conditions precedent, including approval of the Transaction by the Shareholders’ Meetings of both Lottomatica and CIRSA, and obtaining customary FDI, antitrust, FSR and gaming clearances. Completion is further conditional on: (a) CIRSA shareholders validly exercising exit rights not representing more than 5% of CIRSA’s total paid-up share capital; (b) approval of the payment of the CIRSA’s extraordinary dividend by the shareholders’ meeting of CIRSA; (c) completion of all the formalities required for the admission to listing and trading on the Euronext Milan (Borsa Italiana) and the Spanish Stock Exchanges of the Lottomatica shares, including the newly issued Lottomatica shares to be issued and allotted to CIRSA’s shareholders in the context of the Proposed Combination; (d) the expiration or resolution of the statutory creditor opposition period applicable to Lottomatica; and (e) the independent expert’s confirmation of the adequacy of the exchange ratio of the Merger and the cash compensation to be granted to CIRSA’s shareholders who vote against the Merger and validly exercise their statutory exit rights. Effectiveness of the Proposed Combination is expected to occur in Q2 2027. Evercore and PJT Partners are acting as lead financial advisors to Lottomatica and Deutsche Bank and Mediobanca are also acting as financial advisors to Lottomatica in connection with the Transaction, and Latham & Watkins, Paul, Weiss, Rifkind, Wharton & Garrison and Cintioli & Associati are acting as legal counsel. Lazard is acting as financial advisor to CIRSA in connection with the Transaction, and Uría Menéndez, Simpson Thacher & Bartlett, Garrigues and Legance are acting as legal counsel. Barclays is acting as financial advisor to Blackstone in connection with the Transaction.

Italian (Borsa Italiana) Casinos and Gaming Industry Analysis

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Lottomatica Group S.p.A. (BIT:LTMC) entered into a binding merger agreement to acquire Cirsa Enterprises, S.A. (BME:CIRSA) from LHMC Midco S.à r.l. and other shareholders for €3.3 billion.