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Lottomatica and Cirsa have agreed a blockbuster merger that would create the second-largest listed gaming and sports betting operator in the world.
Announced on Wednesday, the all-share deal is expected to close in Q2 2027, forming a combined group with a pro forma adjusted EBITDA of around €2 billion ($2.3 billion).
Cirsa’s implied pro forma value, before synergies, corresponds to an multiple of approximately 6x its expected 2026 EV/EBITDA which will be between €800 million and €820 million, according to the operator’s most recent earnings.
About Cheltenham Sporting Legends
While acknowledging Google’s cooperation in removing paid advertisements promoting illegal casinos, the KVA emphasised the need for the company to take more comprehensive measures addressing organic search results.
Dutch MPs have raised similar concerns before. In December 2025, CDA MP Straatman asked the state secretary whether websites advertising as “Beste casino’s zonder Cruks” should be taken offline immediately.
In a written response published in January 2026, Arno Rutte, the state secretary at the time acknowledged that enforcement against such sites remained limited, particularly for domains not registered under the .nl extension.
About Cheltenham Sporting Legends
Meanwhile, Tunisian gambling law rests on Decree-Law 74-20 of October 1974. The only lawful sports betting channel is the state company Promosport. Pari-mutuel horse race betting is managed by the Agence Tunisienne de Solidarité.
Parliament is now considering two competing approaches to online gambling. But neither has produced a licensing framework.
A private members’ bill, 2026/009, was put forward on 20 January by 23 deputies and referred to the General Legislation Committee on 29 January. It would amend the 1974 decree-law to prohibit all online gambling and require internet and payment providers to block it.
