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
SiGMA North America 2026
01 de September 2026
SiGMA North America Addressed Crisis Management in iGaming
(Mexico, SoloAzar Exclusive).- During SiGMA North America 2026, Rosa Ochoa, founder of the Blue Global Gaming platform and strategic advisor for gaming operators; Iliana María Pineda Echeverri, Chief Legal & Compliance Officer at Wplay.co; Iraid Rosales, Country Manager Mexico at Amusnet; and Elizabeth Maya Cano, Executive President of CORNAZAR, analyzed the key factors in managing crisis situations within the iGaming industry, with a special focus on transparency, communication, technology, and preparation.
Friday 25 Sep 2026 / 12:00
Affiliates and Acquisition: Keys to Regulated Markets in North America
(Mexico City, SoloAzar Exclusive).- During SiGMA North America 2026, Cristopher Guzmán Reyes, Head of Affiliates at Logrand Entertainment Group; Guga Júnior, influencer and slots expert at Scalar Partners; Andrés Gómez, Head of Latin America Go-to-Market Strategy at Admattic; Yambot Aguilera, Gaming and Finance Sales Director at Google; and Paula Gabriel Jiménez, Advertising Client Growth Director for Microsoft at Aleph, analyzed the state and provincial affiliate ecosystem in North America, as well as the acquisition challenges in regulated markets.
Thursday 24 Sep 2026 / 12:00
Jordi Sendra, CEO of Alea: "Latin America is one of our most important regions"
(Mexico City, SoloAzar Exclusive).- The CEO of Alea analyzes the company's participation in SiGMA North America, the potential of Mexico and Brazil and the growth opportunities in North America and Latin America. It also reviews the new features presented during the event, including the new sportsbook vertical and Alea Jackpot.
Wednesday 23 Sep 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.
