Cirsa to acquire remaining 50% stake in Sportium Apuestas Deportivas from GVC Holdings for €70m.

Cirsa agreed to acquire 50% interest in Sportium Apuestas Deportivas, active in the Spanish retail betting market, from its joint venture partner GVC Holdings, the global sports betting and gaming group, for consideration of €70m payable in cash plus repayment of loans and distribution of excess cash. As part of the disposal, GVC will become a B2B supplier to Sportium. "GVC is one of the leading online gaming operators in Spain with bwin and the disposal of our interest in Sportium enables us to simplify our business in this market. We have enjoyed a good working relationship with Cirsa and are pleased to be able to support them through a new B2B partnership," said Kenneth Alexander, GVC CEO.