Cirsa Expands into Portugal's Land-Based Market with New Acquisition
Cirsa acquires majority stake in Casino Figueira, marking a key move in its Portuguese omnichannel expansion strategy.
Key Takeaways
- Cirsa has acquired a majority stake in Casino Figueira, entering Portugal's land-based market.
- The acquisition supports Cirsa’s omnichannel growth strategy alongside CasinoPortugal.
- First quarter revenue for Cirsa reached €623 million, marking an 8% increase year on year.
Cirsa has solidified its presence in the Portuguese land-based market by acquiring a majority stake in Sociedade Figueira Praia, S.A., the operator of Casino Figueira. This acquisition aligns with Cirsa’s omnichannel strategy in the region, complementing its online operations through CasinoPortugal, obtained in 2024.
Strategic Acquisition of Casino Figueira
Located in Figueira da Foz, Casino Figueira is considered "one of the most historic casinos on the Iberian Peninsula," having held a gaming licence since 1948. Cirsa emphasized that the transaction follows its typical acquisition framework and will utilize existing cash resources, ensuring there is no significant impact on its leverage.
Antonio Hostench, CEO of Cirsa, remarked, "Casino Figueira is a landmark within Portugal’s entertainment industry, boasting a formidable legacy and an experienced management team." This acquisition is a significant step in Cirsa’s goal to expand its presence in Europe and enhance its omnichannel services.
Omnichannel Expansion and European Strategy
Joaquim Agut, Cirsa's Executive Chairman, highlighted that joining forces with Casino Figueira in the land-based sector, together with the previous acquisition of CasinoPortugal, positions Cirsa to deliver a comprehensive gaming and entertainment experience in Portugal.
The move aligns with Cirsa’s broader strategy to integrate its offerings across online and land-based channels, reinforcing its foothold in Europe.
Broader M&A Activity in Latin America
Recently, Cirsa also ventured into the Paraguayan market by acquiring a majority stake in Slots del Sol, an online slots operator. In Latin America, Cirsa has established its presence in Peru with Apuesta Total and operates in Colombia via Sportium. This expansion complements Cirsa’s strategic growth trajectory within the region.
Financial Performance and Future Outlook
In June 2025, Cirsa went public on Spanish stock exchanges to raise €400 million ($457.3 million) aimed at propelling its future acquisitions. By the end of June 2025, Cirsa executed over 130 acquisitions since 2015.
The first quarter of 2026 reported a rise in operating revenue and profit, reaching €623 million and €194 million respectively. Cirsa attributes this to solid operations and financial positioning, aiming to further accelerate its M&A activities.
Cirsa is set to announce its financial results for Q2 2026 on 30 July, signaling potential developments in its strategic growth plans.
Frequently Asked Questions
What is the significance of Cirsa's acquisition of Casino Figueira?
The acquisition marks Cirsa's entry into the Portuguese land-based market and aligns with its omnichannel strategy, enhancing its European expansion.
How is Cirsa funding the Casino Figueira acquisition?
Cirsa is funding the acquisition through existing cash resources, ensuring it does not significantly impact the company's leverage.
What are Cirsa's recent steps in the Latin American market?
Cirsa has entered the Paraguayan market with Slots del Sol and has partnerships in Peru and Colombia, reflecting its aggressive M&A strategy in Latin America.
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About the author
Marcus Webb
Industry Deals Correspondent
Marcus Webb covers the deal flow of the gambling industry — operator strategy, M&A, market entries, and product launches from sportsbook rebrands to full platform migrations. The reports name the companies, valuations, and jurisdictions exactly as disclosed and separate the announcement from its market impact. When a group consolidates a brand or a challenger launches into a new state, Marcus Webb explains who gains, who pays, and what closes next quarter.
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