Grupo CIRSA reports Q3 2026 trading update with record YTD profit of €128M
Board to vote on proposed Lottomatica merger at 30 Nov extraordinary meeting
Key Takeaways
- Grupo CIRSA reported a year-to-date corporate profit of €128 million in its Q3 2026 trading update.
- Nine-month revenue rose 10% to €1.89 billion and adjusted EBITDA increased 9.3% to €599.3 million.
- Renegotiation of €2.1 billion of bonds in July helped underlying pre-tax profits rise 37% year-to-date.
- An extraordinary general meeting on 30 November will vote on the proposed combination with Lottomatica S.p.A., which management expects to close in Q2 2027.
Grupo CIRSA has reported a year-to-date corporate profit of €128 million in its Q3 2026 trading update, and said the results support meeting its full-year targets after renegotiating payment terms on its bonds for €2.1 billion in July. The company published the figures on the Bolsa de Madrid and said underlying pre-tax profits for the year-to-date rose 37% versus 2025.
Key results and figures
In the first nine months of 2026 the group recorded net operating revenue of €1.89 billion, a 10% year-on-year increase, and adjusted EBITDA of €599.3 million, up 9.3%. CIRSA said it remains “fully on track” to reach the upper end of its 2026 guidance, which contemplates revenue growth of between 7% and 9.5% and adjusted EBITDA growth between 6% and 9%.
The report attributes the improvement in net results to the debt renegotiation and to commercial performance in Spain and its international operations.
Markets and performance by business line
Spain remains the group's engine, representing 48% of total earnings. The Spanish machines and gaming division grew revenue by 10.5% to €350 million, and its EBITDA rose 15.6% to €186 million.
In the international casinos segment, nine-month revenue rose 10.4% to €805.7 million and EBITDA grew 8.4% to €326.9 million, despite isolated operational disruptions such as the August earthquake in Colombia.
Online and betting showed a mixed picture: revenue grew 14.3% to €446.7 million, while EBITDA fell 4.9% to €75.8 million. The report notes that Spain’s World Cup win expanded the customer base, but higher promotional spend and sporting outcomes favourable to customers reduced profitability; the late‑summer football impact is estimated at €10 million of EBITDA.
In Latin America, Peru faced pressure from higher online gaming taxes; Peru’s contribution to group EBITDA was 6.6%, down from 8.3% in 2025.
Corporate actions, dividends and the Lottomatica merger
In July CIRSA completed two acquisitions: Slots del Sol in Paraguay and Casino da Figueira in Portugal. The group says these purchases position the company ahead of regulatory changes expected in 2027.
The nine months show an adjusted net profit of €202.1 million, a year-on-year increase of 35.9%, and the company projects to distribute around €100 million in dividends for fiscal 2026.
"The merger process is progressing without incident," management said, referring to the proposed combination with Lottomatica S.p.A.
Shareholders will meet at an extraordinary general meeting on 30 November to vote on the proposed combination with Lottomatica S.p.A.. Management expects to complete the transaction in the second quarter of 2027, subject to regulatory and shareholder approvals.
Frequently Asked Questions
What is Grupo CIRSA’s year-to-date profit through Q3 2026?
Grupo CIRSA reported a year-to-date corporate profit of €128 million in its Q3 2026 trading update published on the Bolsa de Madrid.
How did the debt renegotiation affect CIRSA’s results?
Renegotiating payment terms on bonds totaling €2.1 billion in July contributed to a 37% increase in underlying pre-tax profits compared with 2025.
When will shareholders vote on the Lottomatica merger?
Shareholders will vote on the proposed combination with Lottomatica S.p.A. at an extraordinary general meeting on 30 November, with the transaction targeted to complete in the second quarter of 2027, subject to approvals.
What dividend guidance did CIRSA give for 2026?
CIRSA projected approximately €100 million of dividend distributions for fiscal 2026, supported by an adjusted net profit of €202.1 million at nine months.
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About the author
Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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