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Cirsa has completed its two-step entry into Portugal. The company has acquired a majority stake in Casino Figueira, following its purchase of online operator CasinoPortugal in December 2024.
The company first entered the Portuguese market in 2024 with the acquisition of CasinoPortugal, an online gaming and sports betting operator. That deal gave the Spanish group its first foothold in the country, limited at the time to the online channel.
Cirsa has now added a land-based component to that presence. According to a statement, the company acquired a majority stake in Sociedade Figueira Praia, S.A., the owner and operator of Casino Figueira in Figueira da Foz. The transaction gives Cirsa its first physical casino in Portugal, joining its online operation under a single ownership structure.
Casino Figueira has held a gaming license since 1948 and is described by Cirsa as “one of the most historic casinos on the Iberian Peninsula.”
Cirsa Executive Chairman Joaquim Agut said the combination of Casino Figueira and CasinoPortugal would enhance the company’s “ability to deliver a fully integrated gaming and entertainment offering across both online and retail channels.”
“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,” said Cirsa CEO Antonio Hostench.
“This transaction reinforces our presence in Portugal and represents a decisive step forward in our omnichannel growth strategy in Europe,” Hostench added.
Cirsa said the transaction multiple is consistent with previous acquisitions the company has completed. The purchase will be funded through existing cash resources and is not expected to have a material impact on Cirsa’s leverage profile.
The Portugal deal follows Cirsa’s entry into Paraguay last week, where the company purchased a majority stake in online slots operator Slots del Sol. In Latin America, Cirsa also operates through a partnership with Apuesta Total in Peru and through Sportium in Colombia.
Cirsa listed on the Spanish stock exchanges in June 2025 and raised close to €400 million ($457.3 million) in the offering. The company said the proceeds would help finance its acquisition strategy. As of June 2025, Cirsa had completed more than 130 acquisitions since 2015.
For the first quarter of 2026, Cirsa reported operating revenue of €623 million ($710.2 million) and operating profit of €194 million ($221.2 million), up 8% year-on-year. The company attributed the results to “a clearly defined strategy, very solid operational execution and a strengthened financial position.”