Cirsa has announced an operating profit of €195 million for the third quarter of 2026, reflecting a 6.8% increase compared to the same period last year. Revenue for the quarter rose by 12% to reach €628 million ($705 million).
In a statement released on Thursday, the Spanish gaming company noted that the operating profit would have amounted to €203 million—an 11.1% increase year-on-year—if not for expenses related to its planned merger with Lottomatica, the Italian gaming operator.
This latest financial performance marks the 73rd consecutive quarter of operating-profit growth for Cirsa. For the first nine months of 2026, the company's revenue increased by 10%, while operating profit saw a growth of 7.8%. Cirsa anticipates finishing the year at the upper end of its prior guidance but did not disclose specific figures in its announcement.
The company's fastest-growing segment remained online gaming and sports betting, where amounts wagered surged by 43.4% during the quarter, with net revenue increasing by 19%. Deposits grew by 39.4%, signaling heightened customer engagement. However, Cirsa did not disclose how much of this growth in wagers and deposits contributed to overall profit.
In terms of expansion, Cirsa has broadened its casino operations, recently opening a new venue in Cartagena de Indias, Colombia, and launching two casinos alongside two gaming halls in Paraguay. The group has also renovated facilities in Panama and Spain, adding over 30 slot machines at Casino Marbella.
In Spain, revenue and operating profit within the slots division grew, driven by an effective machine mix, robust sales efforts, and stringent cost management practices. Meanwhile, performance in Italy remained stable and consistent with market trends, with particularly strong results from video lottery terminals, and the integration of latest acquisitions in the Italian gaming-hall sector was reported as completed.
Cirsa's growth trajectory occurs amidst ongoing global economic and geopolitical uncertainties, with recent acquisitions playing a crucial role alongside its established operations.
The company has scheduled an extraordinary shareholders' meeting for November 30 in Terrassa to move forward with its merger proposal with Lottomatica.
The two firms disclosed their intent to merge in September this year, stating that the merger would establish the second-largest publicly listed gaming and sports betting operator worldwide. Cirsa's CEO, Antonio Hostench, emphasized that the merger would undoubtedly stimulate growth: "The combination of Cirsa and Lottomatica creates a world-class diversified gaming leader with leading positions across its core markets and significant opportunities to accelerate profitable growth," he remarked.
Under the planned merger, Lottomatica will merge with Cirsa through an EU cross-border process, with Lottomatica remaining the surviving entity. The new company is expected to be listed on stock exchanges in both Spain and Italy, targeting an addressable market of up to €34 billion by combining its reach across several territories, including Portugal, Mexico, and Colombia.
