Cirsa targets upper end of 2026 guidance as Lottomatica merger advances
Cirsa reported operating profit of €195 million in the third quarter of 2026, an increase of 6.8% on the same period last year, as revenue rose 12% to €628 million ($705 million).
On Thursday, the Spanish gaming group said operating profit would have reached €203 million, up 11.1% year on year, excluding costs associated with its proposed merger with Italian operator Lottomatica.
Sports betting the fastest growing division
The results extend Cirsa’s reported streak of quarterly operating-profit growth to 73 consecutive quarters. For the first nine months of 2026, revenue increased by 10% and operating profit by 7.8%.
The company said it expected to finish the year at the upper end of the range previously communicated to markets, but did not specify that range in its results announcement.
Online gaming and sports betting was the group’s fastest-growing division. Amounts wagered increased by 43.4% in the quarter, while net revenue rose by 19%.
Deposits were up 39.4%, indicating increased customer activity. The company did not provide figures showing how much of the growth in wagers and deposits translated into profit.
Casino expansion
Cirsa also expanded its casino operations. It opened a casino in Cartagena de Indias, Colombia, and entered Paraguay with two casinos and two gaming halls.
The group refurbished venues in Panama and Spain, and installed more than 30 additional slot machines at Casino Marbella.
In Spain, the slots division recorded growth in revenue and operating profit, which Cirsa attributed to its machine mix, sales activity and cost control.
In Italy, performance was stable and in line with the market, with particularly strong results from video lottery terminals. The company said it had completed the integration of recent acquisitions in the Italian gaming-hall business.
Cirsa said growth came amid macroeconomic and geopolitical uncertainty, with recent acquisitions contributing alongside its existing operations.
The merger
The company also called an extraordinary shareholders’ meeting for 30 November in Terrassa to advance its proposed merger with Lottomatica.
The two companies announced their proposed merger in September of this year, emphasising that it would create the second-largest listed gaming and sports betting operator in the world.
At the time of the announcement, Cirsa CEO Antonio Hostench explained that the merger would certainly drive growth.
“The combination of Cirsa and Lottomatica creates a world-class diversified gaming leader with leading positions across its core markets and significant opportunities to accelerate profitable growth,” he said.
Lottomatica will absorb Cirsa through an EU cross-border merger, with Lottomatica as the surviving entity. The combined company will be listed on stock exchanges in both Spain and Italy.
The group is expected to have an addressable market of up to €34 billion when combining all its available markets, including Portugal, Mexico and Colombia.