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Argentina Exposure Clouds Cirsa IPO Plans

Proposals for a public listing of Cirsa Gaming Corp.’s shares will be presented to the group’s owner for approval early next year, with the company’s Argentina operations possibly being kept separate from the listed business, chief financial officer David Royo said Tuesday.

Royo was commenting on a recent Bloomberg report that Cirsa was exploring several strategic options including an IPO, the sale of part or all of the business, or a merger with another gambling company.

The casino and gaming hall operator would likely be valued at around €2bn, according to anonymous banking sources cited by Bloomberg.

Royo said Cirsa executives have already spent the past two years closely evaluating its operating metrics with a view to preparing the company for an IPO.

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