Blackstone explores sale of ICE organiser Clarion Events 4l464d

Blackstone, the renowned private equity and alternative investment firm, is reportedly seeking to divest from Clarion Events, the London-based exhibition organiser known for its significant contributions to the gaming industry. 2k316u

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Acquired by Blackstone in 2017 for £600m, Clarion is best known for producing major gaming exhibitions such as ICE, iGB L!VE, iGB  and the Indian Gaming Tradeshow & Convention.

Clarion Events

Despite the COVID-19 pandemic’s impact on in-person events, Blackstone maintained its for Clarion, which organises gatherings in various sectors beyond gaming, including consumer electronics, defence, energy and public safety.

Blackstone is now reportedly looking to sell Clarion for a price of around £2bn, representing a 12x  on Clarion’s earnings before interest, tax, depreciation and amortisation.

Clarion, the world’s largest privately-owned event organiser, hosts around 125 events annually across 25 countries, employing over 2,000 people. Its diverse portfolio includes the Airport Business Conference in New Orleans and the National Grocers Association Show in Las Vegas.

ICE Barcelona set a record last year with attendance exceeding 45,000, overshadowing Las Vegas’ G2E Expo’s annual attendance of approximately 25,000. Newer events like iGB L!VE, iGB s and the Indian Gaming Tradeshow & Convention are also experiencing growth.

Blackstone’s gaming investments extend beyond Clarion, having held stakes in major properties such as the MGM Grand, Mandalay Bay and the Bellagio on the Las Vegas Strip, as well as The Cosmopolitan and Crown Resorts in Australia.

As Blackstone explores the sale of Clarion, it reportedly has interest from at least five potential buyers.

Source: casinoinside-ro.casinowinning.net