Private equity group Blackstone is selling the company that has run the popular annual ICE gaming industry conference since 1990.
Blackstone purchased the firm in 2017 for $802m
Clarion Events doesn’t just look after events in the gambling sector, it is also involved in electronics, energy, defense, and security. Blackstone purchased the firm in 2017 for $802m, with the company now reportedly worth upwards of $2.7bn despite running into difficulties during the COVID-19 pandemic.
According to insiders that Reuters has spoken to, several parties are interested, including PAI Partners, Ardian, Hillhouse Investment, KKR, and CVC.
Blackstone has been considering a sale for some time and believes market conditions are right now to put it on the market officially. The recent disruption caused by President Donald Trump’s tariffs meant that dealmaking was at a two-decade low up until recently.
