CIRSA enters Paraguay gaming market with Slots del Sol acquisition
The deal gives CIRSA a presence in both land-based casinos and igaming in Paraguay.
Paraguay.- The Spanish gaming group CIRSA has acquired a majority stake in the Paraguayan operator Slots del Sol. The deal marks its first move into the South American country’s regulated gambling market.
Slots del Sol runs an online casino alongside two land-based casinos and two gaming halls, giving CIRSA an immediate omnichannel footprint in the Paraguayan gaming sector as part of its strategy to diversify internationally. The company now has a presence in seven Latin American gaming markets, having already established operations in Colombia, Mexico, Peru, Panama, Costa Rica and the Dominican Republic.
The deal comes a year after CIRSA’s IPO in Spain in July 2025. The company said the acquisition is expected to enhance profitability and value creation while consolidating its position in a growing market. Paraguay’s gambling sector generated a record PYG215.9bn (€31.2m) in 2025 following the liberalisation of the market.
The value of the transaction has not been disclosed, but CIRSA said it will finance the deal with available cash with no material impact on its leverage.
Executive Chairman Joaquim Agut said of the Slots del Sol deal: “This acquisition reinforces CIRSA’s strategic commitment to accelerating growth in the online gaming space. Paraguay represents an attractive and highly stable regulated market with strong fundamentals, and Slots del Sol provides us with a leading platform from which to continue expanding our online capabilities in the region.
CEO Antonio Hostench added: “Slots del Sol has demonstrated exceptional performance, with outstanding capabilities in online operations. We are delighted to partner with its founding shareholders and are confident that we will be able to combine our global experience and best-in-class capabilities with their local knowledge and expertise to drive future growth. The transaction will contribute to improving the margins of our online gaming business.”
For Q1, CIRSA reported that net operating revenue reached a record €623m, an 8 per cent increase year-on-year (9.5 per cent at constant exchange rates). EBITDA climbed 8.5 per cent to €193.9m (10.8 per cent in constant currency), with margins steady at 31.1 per cent. The company also reported a reduction in net financial debt from €2.64bn to €2.05bn.
