MADRID, July 2 (Reuters) - Blackstone's Spanish

gambling company Cirsa opened its initial public offering to

investors on Wednesday and will close it on July 7, a bookrunner

said in a document seen by Reuters.

The new shares in the company would be allocated to

investors on July 7 and would start trading on the Spanish stock

market on July 9.

Cirsa seeks a valuation of 2.52 billion euros ($2.97

billion) in the IPO, it said on Monday.

The casino operator expects the operation to be worth

between 453 million euros and 521 million euros, including a

so-called greenshoe option that allows it to float more shares

if demand is strong enough and a secondary sale by existing

shareholders, the bookrunner said.

Bookrunners for the IPO include BBVA, Jefferies, Mediobanca,

Societe Generale and UBS.

Cirsa is controlled by U.S. private equity fund Blackstone

and operates casinos and gambling platforms in Spain, where it

is the largest casino operator, Italy, Morocco, as well as in

Latin America. It entered Portugal and Puerto Rico last year.

The IPO would be the first in Spain since travel tech

company HBX Group raised 725 million euros in February

in a deal that valued it at 2.84 billion euros at the time.

($1 = 0.8491 euros)