CIRSA has set aside €150m (£129.7m) per year to spend on M&A, according to CEO Antonio Hostench, as the omnichannel operator plots further geographic expansion.
The operator reported record quarterly revenue of €623m for the first quarter of 2026, with online gaming and betting revenue accounting for €143.4m of the total.
Management stressed that the results put them in a good position for further M&A in the future, stating that the pipeline for acquisitions “remains strong”.
Speaking on CIRSA’s Q1 analyst call, Hostench shed light on the specifics of the operator’s M&A strategy, with territories across Europe and Africa earmarked.
He said: “Q2 is showing the same good trend as of Q1, supporting the stability of our growth profile while our M&A team is working on a healthy pipeline of bolt-on M&A opportunities, as well as more sizeable potential transactions to further support our growth going forward.
“We gave a guidance that during this three-year period, we would spend €450m to €500m. For acquisitions, we are going to spend in the range of €150m every year and we remain confident about that.
“That is purely considering bolt-on transactions in our countries. I think that applies to Spain, Italy and Latin America, and if something also appears in Morocco, we are ready to execute there also.
“What we said in previous reports was that now, because of the size of the company, we are also open to exploring new geographies. New geographies would mean maybe one or two remaining countries in Latin America.
“The new thing is that we are looking at countries in Western Europe, where there might be opportunities both in the online channel as well as the retail channel. Of course, the priority for us would be to start investing in profitable business in the online segment.”
Hostench had previously spoken of the company’s desire to pursue more M&A deals last November, claiming that the effects could be seen as early as Q4 2025.
The CEO also suggested that increased M&A could help offset the impact of increased taxes in certain jurisdictions.
The firm’s results referenced increased taxes in Peru as a stumbling block, with the country’s 12% GGR tax rate coming into effect in the latter half of 2025.
Hostench added: “We knew from the beginning of 2024 that this is what’s going to happen. I think growing the business will help us to balance the hit we had during this quarter.
“Combining this with the winning critical mass in our other Latin American operation as well as adding through M&A new operations with good margins will help us reach our target.”
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The post CIRSA has €150m annual war chest for M&A, says CEO first appeared on EGR Intel.
Antonio Hostench reveals the operator is targeting opportunities in Western Europe, with North Africa also cited as a potential area for inorganic growth
The post CIRSA has €150m annual war chest for M&A, says CEO first appeared on EGR Intel.