CIRSA

So for me to find myself running this as a shift and in charge of the whole operation very early in my career was really a privilege and an opportunity that doesn't often come around.

At that time I was young, but I could be trusted because my dad worked in the company as well.

And this was, I mean, as good as it gets, I think from a professional career point of view, to be involved in something as dynamic and as close to the real thing as it gets without being in one of the real hubs of gaming.

So for me, it still stands out as how did I ever get in charge of that so early? It was like, okay, pinch yourself every day, but it was great.

So for me, it was exciting to be able to come back to Spain, even though I consider myself half Latin American and half Venezuelan.

And lived the dream that I was told.

When I moved to South America, a lot of the casino managers were Spanish people because it was a Spanish company, Cirsa.

And they were telling me all the big stories of when gambling was legalized in Spain in the late 70s after Franco died.

And by using stock instead of cash, Lotomatica prevents themselves from being buried under billions of euros in new debt.

The statutory merger aspect means CIRSA basically ceases to exist as a separate legal entity.

It's

just gone, right? Its assets, liabilities, its entire operational footprint are legally fused into Laudamatica across national borders.

Um, they, that's, this is after some deal news.

They've agreed to buy a Spanish rival in all-share deal, so that's, uh, Cirsa enterprises in Spain, and their shares rose about 15% on the back of that news.

So the deal's valued at about 2.8 billion euros, um, and that price is about a 21% premium compared to Cirsa's previous close.

Um, it's expected to become effective second quarter of next year, um, but it's a big deal in the space.

It will create the second largest listed gaming operator, uh, so a huge deal there, as I say, 2.8 billion euros, um, and shares moving in, in rather opposite directions for both parties.