iGB and ICE Conferences Could Be Sold for £2 Billion: Blackstone Begins Deal Preparation
Investment fund Blackstone has begun preparing for the sale of Clarion Events, the organizer of the major iGaming conferences iGB L!VE / iGB Affiliate / ICE.
Why Clarion Events Is Up for Sale
Clarion, the owner of flagship iGaming industry events, could be sold for £2 billion — a valuation given by sources familiar with the process.
The deal signals signs of a recovery in business activity following instability caused by recent trade moves from the Trump administration.
Blackstone acquired Clarion in 2017 for £600 million. After a difficult period during the pandemic and the total collapse of the exhibition industry, the company not only recovered but also significantly increased its profitability.
Financial Performance and Growth
In 2023, Clarion reported revenue of £432.9 million — a significant increase compared to £257 million the previous year. The company achieved a 30% profit margin, supported by:
- growth in Asian markets — particularly China and Hong Kong;
- the acquisition of Global Sources in 2018;
- a cost-control strategy;
- a data-led approach to management.
Investor Interest
Among the companies that have expressed interest in acquiring Clarion Events are CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment. The latter is particularly interested in Clarion’s operations in Asia.
Why Clarion Remains Attractive
Today, Clarion organizes over 125 events in the fields of:
- gambling and iGaming,
- energy,
- defense,
- technology.
The company follows a model of creating curated villages within large exhibitions, as well as the NPV structure — Needs, Purpose, Value — in working with clients. This allows Clarion to stay relevant and scale its business without losing focus.
Macroeconomic Impact and Market Outlook
The decision to sell comes amid economic instability and a decline in deal-making activity due to U.S. tariff policies. However, the situation is gradually improving: indices in the U.S. and Europe are rising, and interest in billion-pound deals is returning.
In 2025, Clarion is demonstrating strong cash flow that has exceeded budget expectations. Nevertheless, sources emphasize that a deal is not yet guaranteed, and economic headwinds remain.
Clarion’s Market Position and the Future of the Deal
| Parameter | Figure |
|---|---|
| Year Blackstone Acquired | 2017 |
| 2017 Deal Value | £600 million |
| 2025 Valuation | £2 billion |
| Revenue (2023) | £432.9 million |
| Profitability | 30% |
| Key Markets | Asia, UK, USA |
The potential sale of Clarion could serve as an indicator of recovery in the private equity sector. Investors are closely monitoring its progress.