Blackstone is preparing to list shares of Spanish gambling company Cirsa in mid-April, aiming to complete the initial public offering before the Easter holiday, according to a report from Expansion citing unnamed market sources.

The IPO is expected to raise between €700m and €1bn ($733m-$1.05bn) through a combination of new and existing shares. Cirsa is reportedly planning to announce its intention to float around 13 March, though the listing remains subject to market conditions. The company had initially planned to go public last year but postponed the move in November due to market volatility tied to the US presidential election.

Despite the renewed push, Cirsa’s chief financial officer Antonio Grau recently stated that the company could still delay the IPO if market conditions prove unfavorable. Cirsa has until mid-June to proceed with the offering before requiring updated financial disclosures.

In 2024, Cirsa reported an operating profit of €699m, an 11% increase from the previous year, highlighting its strong financial performance.

Blackstone, which acquired Cirsa in 2018, has expanded the company’s presence across Spain and Latin America, where it operates casinos and betting shops. The upcoming IPO is expected to provide the firm with an opportunity to partially exit its investment while reinforcing Cirsa’s growth strategy in key markets.