Another land-based acquisition for Cirsa as it eyes Portugal expansion

Cirsa has entered the Portuguese land-based market after acquiring a majority stake in Sociedade Figueira Praia, S.A., the owner and operator of Casino Figueira.

Cirsa said the deal, announced on Monday , is fully aligned with its omnichannel strategy in Portugal, complementing its online operator CasinoPortugal , which it acquired in late 2024.

Casino Figueira, located in Figueira da Foz, is claimed by Cirsa to be “one of the most historic casinos on the Iberian Peninsula”. It has held a gaming licence since 1948.

According to Cirsa, the transaction multiple is consistent with previous acquisitions undertaken by the company. It will be funded through existing cash resources, and therefore isn’t expected to have a “material impact” on Cirsa’s leverage profile.

Cirsa CEO Antonio Hostench said the acquisition marked an important milestone in the business’ European expansion strategy.

“Casino Figueira is a landmark asset within Portugal’s entertainment industry, with a strong track record and a management team that brings deep market expertise,” he said.

“This transaction reinforces our presence in Portugal and represents a decisive step forward in our omnichannel growth strategy in Europe.”

Cirsa Executive Chairman Joaquim Agut noted that, combined with the CasinoPortugal acquisition, the entry into the Portuguese land-based market would enhance the company’s “ability to deliver a fully integrated gaming and entertainment offering across both online and retail channels”.

Cirsa’s aggressive M&A strategy continues

Last week, Cirsa also entered the Paraguayan market after acquiring a majority stake in the local online slots operator Slots del Sol.

In LatAm, Cirsa was already present in Peru thanks to a partnership with Apuesta Total, while it is also live in Colombia with Sportium.

In June 2025, Cirsa IPO ‘d on Spanish stock exchanges, expecting to raise €400 million ($457.3 million). This, it said, would accelerate its growth strategy and help to fund future M&A plans.

As of June 2025, Cirsa had completed over 130 acquisitions since 2015.

Q1 revenue up 8% year-on-year

In Q1, the operator’s operating revenue and profit hit €623 million and €194 million respectively.

The company attributed its continued momentum to “a clearly defined strategy, very solid operational execution and a strengthened financial position”.

Cirsa also stated that its strong results and liquidity position would support the advancement of its growth plan, “including a potential acceleration of its corporate M&A activity in the coming months”.

Cirsa will release its financial results for Q2 2026 on 30 July.

Kyle Goldsmith

Kyle has been with Clarion since December 2023, joining from the world of sports journalism, subsequently becoming a LatAm-facing senior reporter with iGB.