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What is Iron Bank?
“With the combination of Lottomatica and Cirsa, two extremely successful companies, we create the undisputed leader in Italy and Spain, among the best gaming markets globally, complemented by leadership positions in other very high growth geographies,” he said.
Cirsa CEO Antonio Hostench added: “I am delighted to embark on this exciting journey together. The combination of Cirsa and Lottomatica creates a world-class diversified gaming leader with leading positions across its core markets and significant opportunities to accelerate profitable growth.”
Lottomatica will absorb Cirsa though an EU cross-border statutory merger, with Lottomatica continuing as the surviving entity.
About Iron Bank
On Wednesday the UK’s Advertising Standards Authority (ASA) ruled against Midnite following an investigation into a paid TikTok advertisement featuring an AI-generated character who appeared to be under the age of 25 and engaging in gambling activity.
The ASA reviewed a clip posted to TikTok in July promoting Midnite, a Gibraltar-based online casino app. The clip displayed a young-looking man using the app, accompanied by the voiceover: “Another massive World Cup upset. Bet £10 on the big match and get £30 in free bets. Level up your World Cup with Midnite, get on it.”
According to the ASA’s Code for gambling advertising, anyone who “was, or seemed to be, under 25 years of age” must not be depicted gambling or playing a significant role in advertisements.
About Iron Bank
Sun International vowed to retain and redeploy employees to other areas of the business where feasible.
During H1, Sun International also implemented its new “Casino Lite” model, aimed at improving profitability at smaller, underperforming properties.
The model focuses on enhancing adjusted EBITDA and operating margins by optimising operations, both in terms of gaming and hospitality.
