Cirsa has made its entry into the Portuguese land-based gaming market by acquiring a majority stake in Sociedade Figueira Praia, S.A., which owns and operates Casino Figueira. This acquisition, announced on Monday, aligns with Cirsa's strategy for an omnichannel presence in Portugal. The company previously acquired the online operator CasinoPortugal in late 2024.
Casino Figueira, located in Figueira da Foz, touts a history dating back to 1948, holding a gaming license for decades, and is described by Cirsa as "one of the most historic casinos on the Iberian Peninsula."
Cirsa stated that the valuation multiples for this transaction are consistent with its past acquisitions. The acquisition will be financed through existing cash reserves, which is not expected to materially affect Cirsa’s leverage profile.
Cirsa CEO Antonio Hostench called the acquisition a significant step in the company's European expansion. He remarked, “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.” He emphasized that this move reinforces Cirsa’s presence in Portugal and furthers its omnichannel growth efforts in Europe.
Joaquim Agut, Executive Chairman of Cirsa, highlighted that this entry into the Portuguese land-based market, combined with the acquisition of CasinoPortugal, will bolster the company’s ability to provide a fully integrated gaming and entertainment experience across online and retail platforms.
Cirsa's aggressive mergers and acquisitions strategy has seen momentum recently; just last week, the company announced it had entered the Paraguayan market with the acquisition of a majority stake in the online slots operator Slots del Sol. In Latin America, Cirsa already operates in Peru through a partnership with Apuesta Total and has a presence in Colombia with Sportium.
After its IPO on Spanish stock exchanges in June 2025, Cirsa anticipated raising €400 million ($457.3 million) to accelerate its growth strategy and facilitate further M&A plans. Since 2015, the company has completed over 130 acquisitions.
For the first quarter, Cirsa reported a year-on-year revenue increase of 8%, with operating revenue reaching €623 million and profit at €194 million. The continued growth has been attributed to a clearly defined strategy, solid operational execution, and a strengthened financial position.
Cirsa noted that its strong results and liquidity will support its growth plans, including potential acceleration of corporate M&A activities in the upcoming months. The company is set to release its financial results for the second quarter on July 30, 2026.
