CIRSA delivered a 9.4% year on year increase in online gaming and betting revenue to €143.4m in Q1, with management eyeing further growth in Colombia, Panama and Mexico.
The operator noted that the growth was primarily driven by strong performance across its key markets in Spain, Italy and Peru.
Management pointed to a 22.4% increase in stakes to €2.9bn as a boost, with casino stakes up 23.9% and sports betting wagers up 19.7%.
Growth was hampered by the increase in gaming taxes in Peru, where the rate sits at 12% of GGR after online gambling regulations were fully implemented during the second half of 2025.
The firm also highlighted “less than favourable” sporting results this year when compared to Q1 2025.
EBITDA from the online gaming and betting vertical amounted to €21.4m, down 11.9% year on year (YoY), with the decline primarily blamed on the Peruvian tax environment.
The online gaming and betting division made up 22.9% of CIRSA’s overall revenue for the quarter.
For the group as a whole, revenue in Q1 came to €623m, up 8% YoY and setting a new quarterly record for the operator in the process.
The majority of the revenue total, €258.5m, was derived from CIRSA’s land-based casino arm.
A further €122.3m came from the firm’s Spanish retail arm, with its Italian counterpart contributing €105.4m.
M&A remains on the menu, with bosses stating that the pipeline for acquisitions “remains strong”.
“Highly value-accretive opportunities could accelerate investment beyond current guidance. Such acceleration would drive revenue growth above 10%,” management added.
In recent years, CIRSA has snapped up Peru-facing Apuesta Total and a stake in Casino Portugal. CIRSA had its IPO in July 2025, although the stock is down almost 15% since to €12.94.
A CIRSA statement read: “The company has started 2026 with strong growth momentum, supported by a clearly defined strategy, very solid operational execution and a strengthened financial position.
“The solid organic growth achieved across all geographies and channels in which CIRSA operates is particularly noteworthy, supported by a selective investment policy that ensures additional growth beyond organic performance.
“The strength of the results, together with the Group’s solid liquidity position, enables the company to continue advancing its growth plan with confidence, including a potential acceleration of its corporate M&A activity in the coming months, in line with its investment and acquisition-led expansion forecasts.”
In February, CEO Antoino Hostench revealed the operator’s plans to launch a prediction markets product in Spain later this year.
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The post CIRSA says M&A pipeline “remains strong” as firm reports 9.4% jump in online gaming revenue to €143m first appeared on EGR Intel.
Year on year increases come despite the impact of increased gaming taxes in core markets, with bosses planning to deploy further capital to ramp up inorganic growth
The post CIRSA says M&A pipeline “remains strong” as firm reports 9.4% jump in online gaming revenue to €143m first appeared on EGR Intel.