Blackstone has begun preparing to sell Clarion Events, the organizer of the largest iGaming conferences: iGB L!VE / iGB Affiliate / ICE. The London-based company is valued at around £2 billion, equivalent to 12 times EBITDA (earnings before interest, taxes, depreciation, and amortization).
According to preliminary estimates, the London-based organizer of the ICE iGaming conference, Clarion Events, is valued at approximately £2 billion. Blackstone, an American alternative investment management company, is set to begin the sale of the company. The action is taken as market conditions appear to be leveling down following a period of volatility associated with recent tariff actions by US President Donald Trump. Even though the deal is still in its early phases, it might be a good indicator of investor interest as private equity looks for a recovery.
Major companies like CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment have already expressed interest in Clarion. The £2 billion price tag is supported by robust cash flows that exceeded budget forecasts in early 2025 and is based on a valuation that’s 12 times EBITDA. However, sources close to the process emphasize that there are still economic obstacles and that a sale isn’t assured.
According to sales paperwork that started making the rounds earlier this month, Hillhouse is reportedly paying close attention to Clarion’s activities in China under the Global Sources name. Clarion’s ability to balance flexibility with focus is what makes it successful. It follows the idea of creating carefully chosen “villages” within bigger events. Clarion’s performance and positioning make it a good contender to spearhead the comeback of significant private equity acquisitions, even while macro conditions are still uncertain. Clarion Events reported revenues of £432.9 million in the 12 months ending January 2024, a significant increase from £257 million in the previous year. Returns in important markets, such as China and Hong Kong, have been a major contributor to the rise.
