Cirsa hits 70 straight quarters of growth as online gaming soars in 2025
Cirsa has reported strong financial growth for 2025, marking its 70th consecutive quarter of improved results. The company's latest figures show rising revenues across multiple divisions, with online games and betting leading the way.
For the full year, Cirsa's operating revenues hit €2.34 billion, while operating profit climbed to €753.5 million and net profit reached €72.9 million. In the final quarter alone, operating profit rose by 3.5% to €198 million, and quarterly operating income grew by 6.4% to €623.6 million.
Online games and betting saw the biggest jump, surging 25.8% compared to 2024. Traditional segments also performed well: Slots Spain grew by 5.4%, Slots Italy by 10.1%, and the Retail division by 4.6%. The Casinos division posted a modest 2.2% revenue increase for the year.
The company expanded its global footprint in 2025, acquiring a 50% stake in the Grand Casino de La Mamounia in Marrakech and purchasing four casinos in Peru. Over the past five years, Cirsa has solidified its position in online games, particularly after its 2024 acquisition by Cirsa Gaming Corporation, backed by Apollo Global Management. This move strengthened its presence in Spain and Latin America, where it now holds around 8-10% market share in key regions. While it outperforms smaller competitors like Luckia, it still trails industry leaders such as Bet365, Entain (bwin), and Flutter Entertainment (Paddy Power).
Looking ahead, Cirsa forecasts net revenues of €2.5 billion to €2.56 billion for 2026, with EBITDA expected between €800 million and €820 million. The company's shares, which debuted at €15, are currently trading slightly above that level.
Cirsa's consistent growth reflects its expanding operations in both physical and online games markets. With a strong financial outlook for 2026 and ongoing strategic acquisitions, the company continues to strengthen its position in Europe and Latin America.
