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
Álvaro Mosquera from GR8 Tech explains the company's visit to BiS SiGMA South America 2026
(São Paulo, SoloAzar Exclusive).- Álvaro Mosquera, Head of Business LatAm at GR8 Tech, describes the event as “very positive,” emphasizing key meetings with operators across Latin America and valuable insights into Brazil’s evolving iGaming market, where flexibility and local readiness are becoming critical for success.
Monday 27 Apr 2026 / 12:00
BiS SiGMA South America Breaks Records with 15,800 Delegates and a High-Octane Blend of Business and Sport
(São Paulo, SoloAzar Exclusive).– In an insightful Q&A, SoloAzar spoke with Emily Micallef, CEO of SiGMA Group, to discuss the monumental success of the 2026 edition. From the strategic local expertise driving their Brazilian operations to the "spectacle" of live MMA and football legends, she outlines the key factors that have solidified this summit as a global gaming powerhouse. Read on for the full interview and Micallef’s take on the future of the Brazilian market.
Monday 27 Apr 2026 / 12:00
Onlyplay highlights its experience at BiS SiGMA São Paulo 2026
(São Paulo, SoloAzar Exclusive).- Onlyplay team share their impressions of the latest edition of BiS SiGMA São Paulo 2026, highlighting growth opportunities, networking, and the evolution of the Latin American market.
Friday 24 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.