Lottomatica to Absorb Cirsa in $3.7 Billion All-Share Gaming Merger

Lottomatica announced it will absorb Cirsa Enterprises in an all-share transaction worth $3.7 billion, according to Investing.com. The deal combines two of Europe's larger gambling and gaming operators into a single group. Cirsa shares surged on the news, extending a jump that Investing.com separately flagged as one of the day's notable stock movers. All-share deals like this typically signal that the acquirer wants to preserve cash while giving target shareholders a stake in the combined company's future upside. What's unresolved is regulatory approval across the multiple European jurisdictions in which both companies operate, and how markets will value the combined entity's debt load once terms are finalized.