Cirsa expands in Portugal with Casino Figueira majority stake
Spanish gaming group Cirsa has bought a majority stake in Sociedade Figueira Praia, which operates Casino Figueira. This marks Cirsa’s first investment in a land-based casino in Portugal.
The deal adds a physical casino to Cirsa’s Portuguese business following its acquisition of online gaming operator CasinoPortugal.pt in 2024. Financial terms of the transaction were not disclosed.
Casino Figueira becomes Cirsa’s first land-based casino in Portugal
Located in the coastal city of Figueira da Foz, west of Coimbra, Casino Figueira is one of Portugal’s oldest gaming venues. Its licence dates back to 1948, when it operated as Casino da Figueira.
In addition to gaming, the property includes restaurants, live entertainment and event spaces, making it a broader leisure and hospitality destination. For Cirsa, the acquisition adds a land-based element to a Portuguese operation that had previously focused on online gaming. Executive Chairman Joaquim Agut described the transaction as an important step for the group.
Agut said, “This acquisition, together with that of CasinoPortugal.pt in 2024, reinforces our ability to offer an integrated gaming and entertainment proposition through online and offline channels.”
Portugal gaming market remains stable despite slower growth
The acquisition comes as Portugal’s land-based gaming market continues to show steady, rather than rapid, growth. As reported by NEXT.io, casinos and gaming machine halls generated around €65 million in gross gaming revenue during the first quarter of 2026, up 0.8 per cent from a year earlier. However, the market ended 2025 down 1.2 per cent after weaker trading in the second half of the year.
Fourth-quarter gross gaming revenue reached €69.8 million, a decline of 3.8 per cent year-on-year. Gaming machines accounted for nearly 79 per cent of the total. Revenue from machines rose 2.3 per cent, while banked table games fell 22.7 per cent.
The addition of Casino Figueira gives Cirsa a foothold in both the online and land-based parts of Portugal’s gaming market. The company entered the country in December 2024 by acquiring CasinoPortugal.pt.
Paraguay acquisition highlights international expansion drive
The Portugal deal comes after Cirsa recently entered Paraguay by acquiring a majority stake in Slots del Sol. This Paraguayan operator runs the Slotsdelsolonline.com platform. They also operate two casinos and two gaming halls, giving Cirsa an immediate presence in both online and retail gaming.
Cirsa said Paraguay offers an attractive and stable regulated market following reforms that ended the country’s long-running gambling monopoly and opened the sector to greater private investment.
According to market figures, Paraguay’s gambling industry generated PYG215.9 billion, equivalent to around €30.6 million, in 2025. That represented growth of 22.9 per cent year-on-year and marked a record result for the sector.
The company said it paid for the transaction with its existing cash reserves. They observed that the valuation was in line with similar deals in the industry. As Cirsa expands across online and land-based gaming, many consumers also refer to guides covering best casino sites for players to compare licensed operators and gaming experiences.
Acquisition strategy continues to drive growth
Acquisitions have been a central part of Cirsa’s growth strategy for more than a decade. Since 2015, the company has completed more than 130 acquisitions as it expanded across international markets. Alongside Spain and Portugal, Cirsa operates in Italy, Morocco, Mexico, Colombia, Panama, Peru, Costa Rica, the Dominican Republic and Puerto Rico.
The group also expanded in Peru and Morocco during 2025 through several casino acquisitions. Across its portfolio, Cirsa operates hundreds of casinos and more than 85,000 gaming machines.
Cirsa’s expansion has been supported by solid financial results. The company reported operating revenue of €2.34 billion in 2025, while operating profit before flotation costs rose 7.8 per cent to €753.5 million.
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