Cirsa expands with acquisition of historic Casino Figueira in Portugal
The purchase of the land-based casino gives Cirsa an omnichannel presence in Portuguese gaming.
Portugal.- The expansion of the Spanish gambling operator Cirsa shows no signs of slowing down. Just a week after entering both online and land-based gambling in Paraguay by acquiring a majority stake in local operator Slots del Sol, it’s not expanding into Portgual.
The operator will make a significant step into Portugal’s land‑based casino market with the purchase of a majority stake in Sociedade Figueira Praia, the operator of Casino Figueira in Figueira da Foz on Portugal’s Atlantic coast. Cirsa describes the casino as one of the most historic on the Iberian Peninsula – it first gained a gaming licence in 1948.
The deal gives Cirsa a strong omnichannel presence in Portugal after it bought the majority of the online gaming and sports betting operator CasinoPortugal at the start of last year. The deal will be financed from existing cash reserves, making no “material impact” on the company’s leverage.
“In addition to its gaming offerings, the complex boasts a prominent restaurant and events scene, solidifying its position as a leading entertainment venue in Portugal,” Cirsa added, noting that this acquisition is “consistent” with its omnichannel strategy and complements the acquisition of the online operator ‘CasinoPortugal’ in December 2014.
Cirsa’s executive chairman, Joaquim Agut, said the acquisition of Cirsa’s first land-based casino in Portugal represented a “new milestone” in the company’s history.
He added, “This acquisition, along with that of CasinoPortugal.pt, reinforces our ability to offer an integrated gaming and entertainment proposition through both online and land-based channels”.
CEO Antonio Hostenchsaid: “Casino Figueira is a flagship asset within the Portuguese entertainment sector, with a solid track record and a management team possessing in-depth market knowledge. We are very pleased to incorporate this casino and to have the support of its current partners in this new phase”.
“Casino Figueira is a landmark asset in Portugal’s entertainment sector, with a strong track record and a management team with deep market expertise. We are delighted to welcome the casino into the Group and to count on the continued support of its current shareholders during this new phase. This transaction reinforces our presence in Portugal and represents a decisive step forward in our omnichannel growth strategy in Europe.”
In June last year, Cirsa’s IPO on Spanish stock exchanges raised around €453m, providing funds for a series of acquisitions. Outside of the Iberian peninsula, it already operated in Peru through Apuesta Total, and in Colombia via Sportium.
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.
The company said its liquidity and results will support further expansion, “including a potential acceleration of corporate M&A activity in the coming months.” Q2 2026 financials are expected on July 30.
