Cirsa, a Spanish company active in the gaming and entertainment sector, has acquired a 50% stake in the Grand Casino La Mamounia through its subsidiary, Cirsa International Business Corporation. The casino is located within the La Mamounia hotel, an iconic luxury establishment in Marrakech regularly ranked among the best in the world, the company announced.
This operation is part of Cirsa’s selective growth strategy in its key markets and reaffirms its long-term commitment to Morocco, the company added, noting that the casino’s current management team will remain in place.
The transaction multiple is in line with previous operations carried out by Cirsa, the company highlighted, adding that the deal will be financed with available cash.
Current estimates indicate a non-significant impact on the group’s pro forma debt, according to the company.
