CIRSA has acquired a majority stake in Sociedade Figueira Praia in a move the firm said “completes CIRSA’s omnichannel strategy” in Portugal.
The move, which comes a week after the Spanish giant announced it had secured a majority stake in Paraguayan omnichannel operator Slots del Sol, follows CIRSA taking a 68% stake in CasinoPortugal.pt in December 2024.
Sociedade Figueira Praia is the owner and operator of Casino Figueira, a land-based casino located in tourist hotspot Figueira da Foz. It has held a gaming licence since 1948.
Although the transaction was undisclosed, the multiple was “consistent with previous acquisitions completed by CIRSA”, management said.
“The acquisition will be funded through existing cash resources and is not expected to have a material impact on the group’s leverage profile,” CIRSA added.
Bosses said the second piece of M&A in the Iberian nation would allow it to pursue its full omnichannel ambitions.
CasinoPortugal is among 17 licensed online operators in Portugal alongside the likes of 888, bwin and Betano.
Casino Figueira is one of the 13 licensed land-based casinos in Portugal, with other operations based in the capital Lisbon and autonomous regions of the Azores and Madeira, among other locations.
“With this transaction, CIRSA completes the development of a fully integrated omnichannel offering in Portugal, bringing together online and retail gaming capabilities under a single growth strategy,” bosses added.
The Terrassa-headquartered operator, which went public last July after an oversubscribed IPO, has consistently used M&A to support its growth plans, including acquiring a 70% stake in Peruvian local hero Apuesta Total in 2024.
Antonio Hostench, CIRSA CEO, said: “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.”
Joaquim Agut, CIRSA executive chair, added: “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.”
CIRSA shares currently trade at €13.82 (£11.73), below the IPO price of €15 this time last year.
The post CIRSA M&A drive continues with Casino Figueira deal first appeared on EGR Intel.
Spanish giant follows Slots del Sol deal with acquisition of majority stake in land-based Portuguese firm as it advances omnichannel strategy
The post CIRSA M&A drive continues with Casino Figueira deal first appeared on EGR Intel.