Cirsa has made its move into the Portuguese land-based gaming market through the acquisition of a majority stake in Sociedade Figueira Praia, S.A., the company behind Casino Figueira. This transaction, announced on Monday, aligns with Cirsa's omnichannel strategy in Portugal, supplementing its online presence through CasinoPortugal, which it purchased in late 2024.
Casino Figueira, situated in Figueira da Foz, is highlighted by Cirsa as one of the oldest casinos on the Iberian Peninsula, having held a gaming license since 1948. Cirsa indicates that the financial multiples associated with this transaction are consistent with its previous acquisitions. The deal will be financed using existing cash resources, and thus, it is not anticipated to have a significant effect on Cirsa’s leverage.
Antonio Hostench, the CEO of Cirsa, described the acquisition as a crucial part of the company’s growth strategy in Europe. He stated, "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. This transaction reinforces our presence in Portugal and represents a decisive step forward in our omnichannel growth strategy in Europe."
Joaquim Agut, Executive Chairman of Cirsa, emphasized that entering the Portuguese land-based market alongside the CasinoPortugal acquisition would enhance the company’s capacity to provide a fully integrated gaming and entertainment experience across both online and retail spaces.
Cirsa’s aggressive expansion strategy continues, as just last week it entered the Paraguayan market by acquiring a majority stake in local online slots operator Slots del Sol. In Latin America, Cirsa is already active in Peru through a partnership with Apuesta Total and operates in Colombia with Sportium.
In June 2025, Cirsa launched an IPO on Spanish stock exchanges, hoping to raise €400 million ($457.3 million) to accelerate its growth strategy and fund future mergers and acquisitions. Since 2015, the company has completed more than 130 acquisitions.
In its recent first-quarter report, Cirsa saw an 8% increase year-on-year in operating revenue, totaling €623 million, with profits reaching €194 million. The firm credited its success to a clear strategic focus, solid operational execution, and a strengthened financial position. Cirsa believes its strong performance and liquidity will support its growth plans, which may include an increase in corporate M&A activity soon. It is set to publish its financial results for the second quarter of 2026 on July 30.
