Cirsa Expands in Portugal with Acquisition of Casino Figueira

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. The company stated that this acquisition, announced on Monday, is fully aligned with its omnichannel strategy in Portugal, complementing its online operator CasinoPortugal, which was acquired in late 2024. Casino Figueira, located in Figueira da Foz, is considered by Cirsa as "one of the most historic casinos in the Iberian Peninsula," with a gaming license since 1948.

Transaction Details

According to Cirsa, the transaction multiple is consistent with prior acquisitions made by the company. The operation will be financed with existing cash resources, so no "material impact" is expected on Cirsa's leverage profile. Cirsa's CEO, Antonio Hostench, emphasized that the acquisition represents a significant milestone in the company's European expansion strategy. "Casino Figueira is an emblematic asset within the entertainment industry in Portugal, with a solid track record and a management team that brings deep market expertise," he mentioned.

Strategic Implications

Cirsa's Executive Chairman, Joaquim Agut, pointed out that along with the acquisition of CasinoPortugal, entering the Portuguese land-based market will enhance the company's ability to offer an integrated gaming and entertainment offering across both online and retail channels.

Cirsa's M&A Strategy

Cirsa's aggressive mergers and acquisitions strategy continues. Last week, it also entered the Paraguayan market after acquiring a majority stake in the local online slot operator Slots del Sol. In Latin America, Cirsa was already present in Peru through a partnership with Apuesta Total, and also operates in Colombia with Sportium.

Financial Performance

In June 2025, Cirsa was launched on the Spanish stock exchanges, expecting to raise €400 million ($457.3 million), which would accelerate its growth strategy and help finance future acquisition plans. By June 2025, Cirsa had completed over 130 acquisitions since 2015. In the first quarter, Cirsa's operating revenue and earnings reached €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."

Future Expectations

Cirsa also stated that its strong results and liquidity position would support the advancement of its growth plan, "including a possible acceleration of its corporate mergers and acquisitions activity in the coming months." Cirsa will publish its financial results for the second quarter of 2026 on July 30.

Kyle Goldsmith, who has been with Clarion since December 2023, coming from sports journalism, has become a principal reporter focused on LatAm at iGB.