Grupo CIRSA Posts €128m YTD Profit, Reaffirms 2026 Targets Ahead of Lottomatica Vote
Record €128m year-to-date profit and guidance intact as shareholders meet on 30 November.
Key Takeaways
- Grupo CIRSA reported record year-to-date profits of €128 million and a 37% rise in underlying profits before tax after a July refinancing of €2.1 billion in bonds.
- Nine-month net operating revenue rose 10% to €1.89 billion and adjusted EBITDA increased 9.3% to €599.3 million.
- Spain accounted for 48% of group earnings; Spanish slots revenue grew 10.5% to €350 million with EBITDA up 15.6% to €186 million.
- Online revenue rose 14.3% to €446.7 million but online EBITDA fell 4.9% to €75.8 million, with late-summer football results costing about €10 million in EBITDA.
- Shareholders will vote on the proposed merger with Lottomatica S.p.A at an extraordinary general meeting on 30 November, with completion targeted for Q2 2027.
Grupo CIRSA reported record corporate year-to-date profits of €128 million on 5 November 2026, saying underlying year-to-date profits before tax rose 37% after a July renegotiation of repayment terms on its €2.1 billion bond. The group published the figures on the Bolsa de Madrid and said nine-month net operating revenue grew 10% to €1.89 billion while adjusted EBITDA increased 9.3% to €599.3 million.
Results and guidance
CIRSA said the stronger bottom line follows the July refinancing of its €2.1 billion debt bonds and underpins management's view that the company remains on track to reach the top end of its 2026 guidance. The guidance range targets revenue growth of 7% to 9.5% and adjusted EBITDA growth of 6% to 9% for the full year.
Nine-month adjusted net profit reached €202.1 million, a 35.9% year-on-year increase; the company indicated the improved financial position could support around €100 million in dividend payouts for the 2026 financial year.
Performance by division and market
Spain continues to be the group's primary earnings driver, accounting for 48% of group totals. The Spanish slots and games division recorded a 10.5% increase in revenue to €350 million and a 15.6% rise in EBITDA to €186 million.
The international casino portfolio posted nine-month revenue up 10.4% to €805.7 million, with EBITDA up 8.4% to €326.9 million, despite temporary operational disruptions including an August earthquake in Colombia.
Online gaming and sports betting were mixed. Revenue in that segment rose 14.3% to €446.7 million, while EBITDA fell 4.9% to €75.8 million. CIRSA attributed the margin decline in part to higher promotional spend and customer-friendly sports outcomes; the company estimated that late-summer football results cost about €10 million in EBITDA. In Peru the online division absorbed higher gaming taxes, reducing Peru's share of group EBITDA to 6.6% from 8.3% in 2025.
CIRSA completed two acquisitions in July: Slots del Sol in Paraguay and Casino da Figueira in Portugal, which the company said position it ahead of regulatory changes expected in 2027.
Merger vote and timetable
Shareholders will meet on 30 November for an extraordinary general meeting to vote on the proposed business combination with Lottomatica S.p.A. Management said the merger process is progressing smoothly and targets completion in the second quarter of 2027, subject to final shareholder and regulatory approvals. The company framed the vote as a next step taken from a position of record earnings, lower financing costs and intact annual targets.
CIRSA filed the trading update on the Bolsa de Madrid; the extraordinary general meeting will determine whether the proposed combination with Lottomatica moves forward as planned.
Frequently Asked Questions
What profit did Grupo CIRSA report for year-to-date 2026?
Grupo CIRSA reported record corporate year-to-date profits of €128 million on 5 November 2026. The company also said underlying year-to-date profits before tax increased 37% following a July refinancing of €2.1 billion in debt bonds.
How did CIRSA's revenues and EBITDA perform over nine months in 2026?
Nine-month net operating revenue rose 10% to €1.89 billion and adjusted EBITDA increased 9.3% to €599.3 million. Nine-month adjusted net profit reached €202.1 million, a 35.9% year-on-year increase.
When and what will shareholders vote on regarding Lottomatica?
Shareholders will convene for an extraordinary general meeting on 30 November to vote on the proposed business combination with Lottomatica S.p.A. Management said the merger process is progressing smoothly and aims to complete in Q2 2027, subject to approvals.
Which markets and divisions drove CIRSA's 2026 performance?
Spain was the core earnings driver, accounting for 48% of group totals; Spanish slots and games revenue rose 10.5% to €350 million and EBITDA to €186 million. The international casino portfolio posted €805.7 million in nine-month revenue, up 10.4%.
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Oliver Grant
Industry Technology Correspondent
Oliver Grant covers the technology and business machinery of iGaming — platform and data deals, AI and compliance tooling, affiliate and marketing shifts, and the quarterly numbers behind them. The reports lead with the announcement, name the vendors and figures exactly as published, and separate genuine capability from press-release promise. When a supplier ships a new engine or a regulator tightens ad rules, Oliver Grant explains what actually changes for the companies involved.
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