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CIRSA, the multinational gaming and entertainment company, has finalized the acquisition of a majority stake in Sociedade Figueira Praia, the operator of Casino Figueira in Figueira da Foz, Portugal. This marks the company’s first entry into land-based gaming in the country, complementing its existing online platform, CasinoPortugal.pt, acquired in December 2024.
Casino Figueira is recognized as one of Portugal’s most historic casinos, holding a gaming license since 1948 under the name Casino da Figueira. Beyond traditional gaming, the venue features a well-established restaurant and events business, positioning it as a leading entertainment destination on the Portuguese Atlantic coast.
Omnichannel Strategy and Market Growth
The acquisition aligns with CIRSA’s broader omnichannel strategy, integrating its digital and physical gaming operations. By combining Casino Figueira with its online platform, CIRSA aims to offer a fully integrated gaming experience for customers, covering both retail and online channels. The company highlighted that this expansion strengthens its presence in Portugal, one of Europe’s most promising regulated gaming markets.
Joaquim Agut, Executive Chairman of CIRSA, emphasized the milestone in a press release: “Casino Figueira becomes CIRSA’s first land-based casino in Portugal, representing a new milestone in our company’s history. Together with the acquisition of CasinoPortugal.pt in 2024, this transaction enhances our ability to deliver a fully integrated gaming and entertainment offering across both online and retail channels.”
Antonio Hostench, CEO, added: “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. 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.”
Transaction Details and Financial Considerations
CIRSA confirmed that the acquisition will be funded using existing cash resources. The company stated that the transaction multiple is in line with previous acquisitions and is not expected to have a material impact on the Group’s leverage profile. The move consolidates CIRSA’s position in the Portuguese market and allows for the delivery of a seamless customer experience that integrates online and offline gaming offerings.
The addition of Casino Figueira, combined with CIRSA’s established online operations, positions the company to capitalize on both tourism-driven traffic and growing digital engagement. By bringing together a historic land-based venue and a robust online platform, CIRSA strengthens its ability to compete in a fully regulated environment while offering diversified entertainment options for players.
CIRSA’s entry into the Portuguese land-based market underscores the company’s focus on strategic expansion across Europe. The acquisition complements its existing digital operations and reflects the company’s commitment to integrating multiple channels to provide a comprehensive gaming and entertainment experience. The company anticipates that this development will enhance brand visibility, drive revenue growth, and secure a leading position in one of the continent’s most dynamic gaming markets.