CIRSA has posted revenue of €579m (£492.7m) for Q2 2025, representing an 11.3% year-on-year (YoY) improvement compared to the corresponding period in 2024.
EBITDA climbed 9.2% YoY to €186.8m, with the operator shaking off “higher-than-usual adverse FX [foreign exchange] environment and ongoing macroeconomic uncertainties” to report a record quarterly performance.
The results mark the 68th consecutive quarter of growth for the company, excluding the Covid-19 pandemic, with the current Q2 being the first full quarter reported by CIRSA since it went public at €15 per share on multiple Spanish stock exchanges in July.
Its public debut sparked interest from 250 institutional investors and “demand more than eight times the offering” size.
In terms of the operator’s business segments, its online sports betting and gaming arm generated the most notable revenue rise, climbing 63.5% YoY courtesy of double-digit organic growth, as well as the integration of Apuesta Total, Peru’s market leader in the sector, which CIRSA acquired in July 2024.
EBITDA within the online sports betting and gaming division surged 120% YoY, despite facing tough comparisons against last year’s Euro 2024 and Copa América tournaments.
As a result, EBITDA margin also improved, rising from 17% in Q2 2024 to 22.9% for this reporting period.
The online sports betting and gaming division contributed 23% of CIRSA’s total revenue in the first six months of 2025, up from 16% in H1 2024.
The operator’s land-based casino segment delivered €237m in revenue, including 5% organic growth. Bosses confirmed the performance was “in line with expectations”, aided by “disciplined execution of commercial plans and activation of points of sale”.
The Spanish slots division grew 1.3% YoY to €179.4m with EBITDA of €54.8m, alongside a corresponding margin of 50.4% – the highest across all of CIRSA’s business units.
Efforts in the Italy-facing slots segment saw revenue grow 4.7% YoY to €118m, as CIRSA successfully navigated “challenging market conditions” to also report a 5.1% EBITDA uptick of €7.6m.
Joaquim Agut, CIRSA executive chairman, said: “Our first quarterly results as a publicly listed group are strong and consistent with our track record, driven by our employees’ commitment to continuously and sustainably improving our operations.
“The execution of our strategy, our customer focus and productivity have once again enabled CIRSA to exceed its objectives.”
CIRSA also issued an update regarding its full-year 2025 financial guidance, with management anticipating mid-single-digit growth in its land-based operations and low to mid-20s growth for its online sports betting and gaming branch.
If the forecasts are correct, the firm will have secured high single-digit growth for the year.
Land-based EBITDA margin is expected to remain stable, with “slight margin improvements” within CIRSA’s digital division.
Meanwhile, June saw CIRSA sign a strategic sponsorship deal with Premier League champions Liverpool FC, as the operator looks to bolster brand recognition in its key markets.
The post CIRSA reports record Q2 revenue as online segment surges 64% first appeared on EGR Intel.
CEO hails “strong and consistent” performance, with online division’s EBITDA surging 120% YoY in first quarterly results as a public company
The post CIRSA reports record Q2 revenue as online segment surges 64% first appeared on EGR Intel.