CIRSA has acquired a majority stake in Paraguayan omnichannel operator Slots del Sol in an undisclosed deal the company said would be “highly positive” for profitability.
Slots del Sol runs an eponymous online casino brand, as well as two land-based casinos and two gaming halls.
Neither the stake acquired or the price paid was announced by CIRSA, but the Madrid-headquartered operator said the “transaction multiple is in line with previous transactions” it has carried out.
The deal will be financed by the available cash on hand and is not expected to have a “significant impact” on leverage.
Paraguay’s gambling sector went through regulatory overhaul in 2023 and 2024, with the long‑standing single‑concession model replaced with a multi‑licence framework overseen directly by the regulator, Conajzar.
The reform introduced defined online licences for the first time, stricter suitability checks and tighter controls on land‑based slots halls and casinos, ending years of patchy enforcement and grey market leakage. Annual GGR is now estimated at $350m (£261m) to $550m, as per MundoVideo.
A CIRSA statement on the Slots del Sol deal read: “This transaction will allow CIRSA to continue strengthening its omnichannel strategy, with a leading position in a structurally growing market.
“This accretive transaction is expected to be highly positive for the company in terms of value creation and profitability.”
Bosses at the operator, which marked its one-year anniversary of its IPO this month, have consistently noted they would pursue further M&A.
Since 2024, CIRSA has snapped up a majority stake in Peruvian giant Apuesta Total, a 68% holding in CasinoPortugal and made moves for various land-based entities.
Those include a 50% stake in Gran Casino de la Mamounia in Marrakech, Morocco and 100% of Valencia-focused slots empire Amusement Machines Grupo Comatel.
In May, CEO Antonio Hostench said the business was planning to spend around €150 each year on M&A over the next three years.
Hostench said he was geographically agnostic, citing Spain, Italy, Latam and Africa as potential targets for inorganic growth.
On Wednesday, 8 July, CIRSA completed a €500m (£427m) bond offering. Online revenue in 2025 grew 9.4% year on year to €143.4m.
Joaquim Agut, CIRSA executive chair, said: “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.”
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.”
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The post CIRSA acquires majority stake in Paraguay’s Slots del Sol first appeared on EGR Intel.