CIRSA demands that Ladbrokes offload stake in Sportium joint-venture
Thursday 02 de May 2019 / 13:40
⏱ 1 min read
(Spain).- Spanish business news source Economia Digital reports that Grupo CIRSA has sued joint-venture partner Ladbrokes (GVC Holdings) in relation to the ownership structure of its ‘Sportium’ subsidiary.
Economia Digital reports that, in July 2018, CIRSA governance filed a Madrid Court challenge against Ladbrokes stating that Sportium joint-venture terms and agreements had been completely altered by GVC Holdings £4 billion takeover of Ladbrokes Coral Plc (deal completed March 2018).
CIRSA, who in 2018 was acquired by US private equity group Blackstone, said that Ladbrokes can no longer fulfil its joint-venture role as its owner GVC Holdings is considered a ‘Spanish market competitor of CIRSA’.
In its court filing, CIRSA governance details that Sportium cannot maintain a 50/50 JV partnership with GVC Holdings, a company operating direct competitors Bwin.es and partygaming assets.
Blackstone and CIRSA Chief Executive Joaquim Agut have therefore demanded that the Madrid Court order Ladbrokes to sell its 50% equity in Sportium at a ‘fair price’.
GVC has branded CIRSA dispute as dishonest, underlining that the Spanish Gambling firm had changed ownership during 2018, forcing Ladbrokes to make necessary partnership adjustments.
When Sportium was launched in 2013, Ladbrokes consolidated its Spanish sports betting brand LBpuestas, while CIRSA moved to relaunch its Spanish market betting proposition under the Sportium domain. The operator has since expanded its betting network to +3,000 betting points across Spain, becoming the nation’s biggest retail bookmaker.
In further related news, Blackstone confirmed this week that it had acquired Spanish market fruit machine and gaming halls operator Giga Games, an asset that will be absorbed by CIRSA’s enlarged Spanish market portfolio.
Categoría:Gaming
Tags: CIRSA, Sportium, GVC Holdings Plc, Ladbrokes, Sports Betting, Sportsbook ,
País: Spain
Event
BiS SiGMA South America 2026
06 de April 2026
Cibelae promotes the integration of the lottery sector at BiS SiGMA South America 2026
(São Paulo).- Cibelae consolidated its role as a key player in the gaming industry with a prominent participation in BiS SiGMA South America 2026. This event, recognized as the largest iGaming and betting gathering in Latin America, took place from April 6 to 9 at the Transamerica Expo Center in São Paulo.
Tuesday 21 Apr 2026 / 12:00
1xBet Builds Momentum in Brazil and Expands Across LatAm at BiS Sigma South America
(Sao Paulo, SoloAzar Exclusive).- Following the recent launch of its Brazilian license, 1xBet used BiS Sigma South America to strengthen its presence in the region and connect with key stakeholders across Latin America. Strategic Advisor Simon Westbury described the exhibition as highly engaging, highlighting both the opportunities generated on the show floor and the regulatory challenges that lie ahead for Brazil and the wider continent.
Tuesday 21 Apr 2026 / 12:00
Fernando Martinez: "LSports is in the midst of a massive expansion in the LATAM region"
(São Paulo, SoloAzar Exclusive).- Following LSports’ participation at BiS SiGMA South America 2026 Fernando Martinez, the company’s VP of Sales LATAM shares insights on regional expansion, the growing demand for managed services, and how technology is shaping competition in an increasingly regulated landscape.
Friday 17 Apr 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.