Cirsa is gearing up its corporate governance structure in anticipation of its forthcoming initial public offering (IPO). According to the company's latest sustainability report, the gaming and leisure company plans to expand its board of directors by appointing five independent directors, who are currently members of the advisory council.
This strategic move includes the addition of four women and one man, whose identities have not yet been revealed. Their role is to provide counsel to the board of directors on various key issues.
The decision to postpone Cirsa's IPO until after Easter was influenced by Blackstone, the major shareholder, aiming to capitalize on an expected post-holiday surge in market conditions. This delay follows a robust performance in the previous year, with Cirsa reporting an EBITDA nearing 700 million euros, marking an 11% increase from 2023.
This restructuring is seen as a crucial step for Cirsa, ensuring that its governance aligns with market expectations and best practices, thereby enhancing its appeal to potential investors. The addition of independent directors is part of broader efforts to strengthen oversight and strategic planning as Cirsa prepares to transition into a publicly traded entity.
For more details, please refer to the
Expansion report published on April 4, 2025.
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