Cirsa expands in Portugal: Casino Figueira acquisition strengthens omnichannel strategy

Gaming group Cirsa has continued its rapid expansion strategy, securing a majority stake in the Portuguese gambling company Sociedade Figueira Praia S.A. With this acquisition, Cirsa takes over the traditional Casino Figueira, which has held a gaming license since 1948 and is considered one of the most historically significant casinos on the Iberian Peninsula. This acquisition, announced on Monday, marks a decisive step for Cirsa to expand its presence in the European market and strengthen its omnichannel strategy in Portugal.

The acquisition of the land-based casino complements Cirsa's existing online presence in Portugal, established through the acquisition of the online operator CasinoPortugal in late 2024. This integration of online and offline offerings is a central cornerstone of the company's strategy to provide a comprehensive gaming experience. Cirsa is funding the transaction from existing cash resources, with no significant impact expected on the company's leverage profile.

Numbers and facts

Cirsa reported impressive financial figures in the first quarter of this year. Operating revenue amounted to 623 million euros, while profit reached 194 million euros. These figures demonstrate the company's continued success and solid financial foundation. Since 2015, Cirsa has completed over 130 acquisitions, underscoring its aggressive M&A strategy. In June 2025, the company went public on Spanish stock exchanges, aiming to raise 400 million euros to fund its growth strategy and future acquisitions.

The latest acquisition is part of a series of expansions. Just last week, Cirsa entered the Paraguayan market by acquiring a majority stake in the local online slot operator Slots del Sol. In LatAm, Cirsa is already present in Peru through a partnership with Apuestas Total and active in Colombia with Sportium. The company expects to release its financial results for the second quarter of 2026 on July 30.

Background

This omnichannel integration strategy is considered forward-looking in the industry. Players increasingly expect a seamless experience across various channels, be it online, mobile, or in traditional land-based casinos. By linking these offerings, Cirsa can strengthen customer loyalty and attract new target groups.

Antonio Hostench, CEO of Cirsa, emphasized the importance of this acquisition for the company's European expansion strategy:

„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. This transaction reinforces our presence in Portugal and represents a decisive step forward in our omnichannel growth strategy in Europe.“ - Antonio Hostench, CEO of Cirsa

Joaquim Agut, Executive Chairman of Cirsa, added that the combination with the CasinoPortugal acquisition would enhance the company’s ability to deliver a fully integrated gaming and entertainment offering across both online and retail channels.

Why it matters for German players

For German players, Cirsa's expansion in Portugal does not directly affect them, as the German gambling market is specifically regulated. The State Treaty on Gambling 2021 (GlüStV 2021) introduced strict licensing under the Joint Gambling Authority of the Federal States (GGL). Only casinos on the GGL's whitelist are permitted to legally offer online gambling in Germany.

Within this framework, strict rules apply: players are subject to a betting limit of 1 euro per spin on online slot machines and a monthly deposit limit of 1,000 euros, controlled via the central monitoring system LUGAS. This system aims to ensure player protection and combat money laundering. Providers not on the GGL whitelist operate illegally in Germany and offer no legal protection to players. While Cirsa focuses on omnichannel in Portugal, German players must concentrate on the regulated GGL casinos that meet these strict requirements.

What it means for GGL-licensed casinos

For GGL-licensed casinos, Cirsa's expansion in Portugal serves as an example of international growth strategies that, however, cannot be directly replicated in the German market. German regulation is much more restrictive. German providers must focus on compliance with national regulations rather than hoping for immediate omnichannel expansion in other European countries. This includes strict rules for bonus offers and the clear separation between different types of games. While international corporations like Cirsa benefit from looser regulations abroad, German gambling companies remain focused on the heavily controlled domestic market.