CIRSA Hits Record €202M Quarterly Operating Profit on Casino and Online Momentum

CIRSA has closed the second quarter with its strongest-ever operating profit and revenue, helped by acquisitions, refurbishments across its casino estate, and continued growth in its Spanish slots and online divisions.

Operating profit for the period reached €202 million ($232 million), an 8.3% improvement year over year and the first time the company has surpassed €200 million in a single quarter. Revenue climbed 10.1% to €637 million ($731.6 million), marking the 72nd consecutive quarter of operating-profit growth.

For the first half of the year, revenue rose 9.1% and operating profit increased 8.4%. Management now expects full-year performance to land at the upper end of previously issued guidance.

The casinos division expanded across every market it serves, lifted by strategic initiatives and stronger customer activity. During the quarter, CIRSA completed five renovation projects under its Gold Mine investment programme, including work at Casino Majestic Panama. The operator also enlarged six gaming halls in Spain's Andalusia and Catalonia regions and added more than 700 gaming machines across its casino network. Integration work continued at recently acquired businesses in Peru and Morocco.

Slots Spain revenue grew 11.2%, while EBITDA advanced more than 17%, supported by productivity gains, targeted acquisitions, integration synergies, and demand for products such as Manhattan Mirage, Manhattan Premium, and Manhattan Magic.

In Italy, CIRSA continued to outperform a contracting amusement-with-prizes market, while its video lottery terminal segment held steady. The company noted that delays to an anticipated regulatory decree could keep the current framework in place through 2027 and 2028, with a new tender potentially arriving in 2029.

Online gaming and sports betting revenue rose 14.9%, driven by record levels of active players and customer acquisition, along with heightened commercial activity during the opening fortnight of the World Cup.

CIRSA said its liquidity position lets it keep balancing organic investment with disciplined M&A, most recently expanding its footprint in Paraguay and Portugal. The group operates 459 casinos, more than 85,000 gaming machines across 11 countries, and roughly 2,500 sports-betting points.