Terrassa, December 18, 2025 – CIRSA Enterprises, S.A. today announced the completion of the acquisition, through its Peruvian subsidiary Gaming and Services S.A.C., of four casinos in Peru.
The transaction includes three casinos in Lima—Casino New York, Casino Luxor, and Casino Pachanga—and a fourth casino in Cuzco, Casino Mystic.
The transaction is aligned with CIRSA’s strategic focus on selective growth in fully regulated key markets. It also strengthens the company’s leadership in the Peruvian market, where the group began operating in 1996 and made a significant leap last year with the acquisition of Apuesta Total, the country’s leading sports betting and online gaming company.
The transaction multiple is consistent with previous deals carried out by CIRSA. The acquisition will be financed with available cash and is not expected to have a significant impact on CIRSA Group’s leverage.
December 3, 2025 – CIRSA Enterprises, S.A.U., through its subsidiary CIRSA Slot Corporation S.A., today announced that it has completed the acquisition of 100% of the share capital of Amusement Machines Grupo Comatel S.L.U.,headquartered in Catarroja, Valencia.
Amusement Machines Grupo Comatel S.L.U. is one of the leading slot route operators in bar & restaurant establishments across the Valencian Community.
This acquisition is part of CIRSA’s selective growth M&A strategy and strengthens its position in the Slots Spain Business Unit.
The multiple paid is in line with previous transactions carried out by CIRSA. The transaction will be financed with the company’s available liquidity, and the impact on the CIRSA Group’s pro forma leverage is not significant.
Group revenues increased by 5.4% to €560.2 million and EBITDA grew by 5.7% to €182.8 million compared to the third quarter of 2024.
The Group reduced its financial costs following the recent refinancing of €1 billion in debt and increased its net profit by 102% as of 30 September.
CIRSA now ranks among the top positions in the global ESG benchmarks for its sector.
Terrassa, 25 November 2025 – CIRSA, a global leader in gaming and leisure and Spain’s number one company in the sector, posted operating revenue of €560.2 million and operating profit of €182.8 million in the third quarter of 2025. These results reaffirm CIRSA’s consistently strong performance, marking 69 consecutive quarters of growth, excluding Covid. These results represent a 5.4% increase in operating revenue and a 5.7% increase in operating profit compared to the third quarter of 2024.
In the first nine months of 2025, CIRSA accumulated €548.5 million in EBITDA and €1,716.6 million in operating revenues, confirming the strength of the ongoing strategic plan. These results maintain the positive track record demonstrated in recent quarters, supported by a focus on strategic markets, the continuous enhancement of the value proposition, and disciplined operational management across all business units.
This performance exceeds the guidance issued at the beginning of the year and reflects the company’s effective execution of its operational plans in an environment still marked by signs of macroeconomic and geopolitical headwinds.
In November, CIRSA climbed to the number one position in its sector in ESG performance according to Sustainalytics, and to joint third place according to Standard & Poor’s ESG Score — both globally recognised rating agencies.
Highlights of the Third Quarter of 2025
CASINOS
The Casino division’s results in the third quarter remained in line with recent quarters, offsetting exchange-rate differences in certain geographies. During this period, we maintained our focus on the strategic roadmap, prioritising the expansion and selective renovation of casino facilities in several countries.
In parallel, the company continued with its technological upgrade programme, with the addition of more than 650 new units, aimed at enhancing customer experience and comfort.
We continue to rigorously apply commercial and productivity plans to mitigate inflationary effects, particularly in LATAM, which is enabling us to consolidate operational efficiency and strengthen our value proposition across key geographies.
In gaming halls, the solid performance of “Manhattan Mirage Salon” and “Link Mix 3”, along with the renewal of the machine base to offer customers the most innovative products on the market, are contributing to growth in this segment.
As part of our acquisition-driven growth strategy, in November we acquired a casino in Morocco, located in the city of Marrakech.
SLOTS SPAIN
The division delivered its best third quarter in recent years, both in revenues and EBITDA. Commercial plans and machine-replacement programmes — including Unidesa’s Manhattan Mirage and Omega Link models — combined with tight cost management, were the key drivers behind this performance.
The results once again confirm the division’s ability to adapt to market dynamics and respond effectively to customer expectations.
SLOTS ITALY
The third quarter confirmed a market recovery trend in both AWP and VLT segments. Thanks to improvement measures implemented earlier in the year and the progressive market rebound, the division achieved double-digit growth in total net revenues compared to the same quarter in 2024.
ONLINE GAMING AND BETTING
The Online Gaming & Betting Business Unit recorded revenue growth of 8.1% in the quarter and 38.9% year-to-date. Quarterly revenue growth translated into a 13.8% improvement in EBITDA, reflecting solid organic performance with no significant impact from M&A activity.
In September, sports results were significantly favourable for customers across all CIRSA geographies and in the market overall, as widely reported. Nevertheless, strong performance in the company’s core markets — Spain, Peru, Italy and Portugal — helped drive part of this growth.
The company went public on 9 July this year at a price of €15 per share.
Reduced leverage to 2.68x Ebitda through debt repayment.
Ranked #1 globally in its sector for ESG by Sustainalitycs
Terrassa, September 9, 2025 –
CIRSA, a leading multinational in gaming and leisure and Spain’s number one company in the sector, posted operating revenue of €579 million and operating profit of €187 million in the second quarter of 2025, once again surpassing its best quarterly records and achieving 68 consecutive quarters of growth, excluding Covid. These results represent an 11.3% increase in operating revenue and a 9.2% increase in operating profit compared to the second quarter of 2024.
The company went public on 9 July this year at a price of €15 per share, with more than 250 institutional investors and demand over eight times the offering. The placement consisted of a primary offering of new shares amounting to €400 million and a secondary offering of existing shares of €53 million, bringing the free float to 18%.
In line with the commitment to reduce debt using the funds obtained, following the IPO the Group allocated €373 million to this purpose which, together with the prior capital injection, reduced leverage by over €700 million, bringing it down to 2.68x Ebitda.
According to Joaquim Agut, Executive Chairman of CIRSA: “Our first quarterly results as a publicly listed Group are strong and consistent with our track record, driven by our employees’ commitment to continuously and sustainably improving our operations. The execution of our strategy, our customer focus and productivity have once again enabled CIRSA to exceed its objectives.”
CIRSA has strengthened its position as a global leader in gaming and entertainment sustainability, recently rising to first place worldwide in Morningstar’s Sustainalytics ESG Rating – a recognition of its responsible management of environmental, social and governance risks.
Highlights of the second quarter of 2025CASINOS
The Casino division’s results in the second quarter remained in line with recent quarters, supported by various initiatives implemented in recent months. Notable among these is the renovation of facilities, with several key projects completed during the period: Casino de Marbella in Spain, Casino de Cuitláhuac in Mexico and Fantastic Lima in Peru. These improvements reinforce the Group’s commitment to enhancing the customer experience.
Disciplined execution of commercial plans and activation of points of sale, along with strict expense control, contributed to the Company’s growth in local currency in Latam. In addition, the renewal of the slot machine fleet—with over 500 new slots added during the quarter—demonstrates efficient, innovation-oriented management.
The omnichannel strategy continues to be key, promoting Sportium’s online offering and cross-selling actions, as well as refurbishing betting corners in casinos.
SLOTS SPAIN
Revenue growth in the Slots Spain division in Q2 2025 maintained the excellent trend seen in Q1, improving on the same period last year. Proper execution of commercial plans and cost containment translated into improved operating margin and Ebitda in the second quarter.
These strong results were driven by the excellent performance of the new Manhattan Mirage models, featuring a new set of games that have been very well received by the market.
Industrial activity remained on the same positive path thanks to the outstanding results of Manhattan Mirage in hospitality with the new Smart GIM (Integrated Monetary Management) and the introduction of Manhattan with the uElite Next cabinet, enabling Ticket In–Ticket Out functionality in gaming halls.
SLOTS ITALY
Thanks to CIRSA Group’s improvement plans in Italy, the challenging market conditions in the second quarter were successfully navigated. CIRSA Italy continues to implement measures to mitigate these impacts, supported by Royal Games’ contribution, to drive growth into 2025.
ONLINE GAMING AND BETTING
The online gaming and sports betting division increased revenue by 63% and Ebitda by 120% compared to the same period last year, even though Euro 2024 and Copa América took place in 2024. Strong performance in the core markets of Spain and Italy, together with the 2024 acquisitions of Apuesta Total (Peru) and Casino Portugal (Portugal), drove part of this increase.
In June, a strategic sponsorship with Liverpool FC was signed, enabling the use of the club’s brand assets and digital activations across all geographies in which the division operates.
July 9, 2025 will be remembered as a historic day for CIRSA. At 12:00, in a moving ceremony held at the Barcelona Stock Exchange, our Executive Chairman, Joaquim Agut, performed the symbolic ringing of the bell to officially usher in a new chapter for our Group.
This milestone not only marks our entry into the stock markets, but also reaffirms our firm commitment to sustainable growth and long-term value creation for all our stakeholders.
The ceremony was attended by several CIRSA executives; representatives of the underwriting banks; financial and legal advisors; and members of the Blackstone team. Numerous national and international media outlets covered the event, reflecting the significance of the moment for both the company and the industry.
The successful execution of strategic plans across all operating markets resulted in a 9.1% increase in operating profit compared to the first quarter of 2024.
The company published its 2024 Sustainability Report, outlining its commitments and achievements in environmental initiatives, social responsibility and governance.
Terrassa, May 29, 2025.– CIRSA, a leading multinational in gaming and entertainment and the first company in the sector in Spain, generated 576,7 million euros in operating revenue and 179 million euros in operating profit in the first quarter of 2025, surpassing its previous quarterly records once again. The company ended 2024 with strong momentum, which has carried into the first quarter of this year. Driven by a clear well-defined strategy and solid operational execution, the year began with a 12.5% increase in operating revenue and a 9.1% increase in operating profit compared to the first quarter of 2024. The company also released its 2024 Sustainability Report, highlighting CIRSA’s commitment to responsible and sustainable growth, along with its strategic priorities in environmental, social, and governance (ESG) initiatives. The report’s release coincides with the confirmation of the company’s ESG rating by Sustainalytics (a Morningstar company), which awarded CIRSA 12.7 points, placing the Group in the ‘low risk’ category and ranking it second in the sector worldwide. The report and other ESG-related materials can be found on the company’s website at https://www.cirsa.com/en/sustainability/
Highlights of the first quarter of 2025
CASINOS
The Casino division sustained its positive momentum in the first quarter of 2025, building on the success of previous quarters. Over 15 renovations and expansions launched this quarter, underscoring a strong commitment to enhancing customer experience. Effective execution of commercial plans, CRM initiatives, and cost control measures, combined with the renewal of the slot machine portfolio, reflect a management approach focused on innovation and efficiency. The multichannel strategy—promoting Sportium’s online offering and executing cross-channel actions like the Sixers tournaments in Marbella and Valencia—demonstrates a comprehensive approach to elevate the customer experience across all channels.
SLOTS SPAIN
The Slots division sustained its strong momentum from 2024 into the first quarter of 2025, driven by the excellent performance of the new Manhattan Mirage models and the successful execution of commercial strategies, including an increase in points of sale both organically and through acquisitions. Revenue growth, coupled with disciplined cost management, led to improved margins and strong results for the quarter.
The industrial segment continues to perform well, fueled by the successful launch of the new Manhattan Mirage model for the Bars & Restaurants channel at ICE Barcelona, as well as the Twist & Link and Manhattan Mirage machines featuring uElite Next cabinets with TITO functionality. In the Interactive area, which specializes in gaming hall management systems, the rollout of Forward Systems installations continued to expand across Spain, further strengthening the division’s footprint.
SLOTS ITALIA
During the first quarter of 2025, Italy experienced a challenging business environment in both AWP and VLT segments. However, the integration of Royal Games helped offset the market’s weak momentum, reinforcing CIRSA’s position in the Bars & Restaurants channel.
Notably, the company’s gaming operator license, originally set to expire at the end of 2024, has been extended for two more years, until the end of 2026.
ONLINE GAMING AND BETTING
The online gaming and sports betting division achieved a 54.8% increase in revenue compared to the same period last year. Strong performance in key markets such as Spain and Italy, along with the addition of Peru and Portugal to the division’s scope, contributed significantly to this growth. The division’s sustained and profitable growth strategy—centered on customer management and multichannel development—enabled these excellent results.
Terrassa, 20 February 2025. CIRSA, a leading multi-national in gaming and entertainment and Spain’s first company in the sector, generated €2,150 million in operating revenues and an operating profit of €699 million in 2024.
In line with its track record of delivering quarter on quarter improvements, the company demonstrated strong growth in 2024, with revenue and operating profit increasing by 8% and 11%, respectively, compared to 2023.
In the fourth quarter, the Company achieved operating revenues of €586 million (+13.7% vs. Q4’23) and an operating profit of €191 million (+17.3% vs. Q4’23).
Joaquim Agut, Executive Chairman of CIRSA Group said, “Today’s results are a testament to the effective execution of our strategy, which focuses on the markets and business sectors where we hold a leadership position.”
“We take pride in our ability to deliver strong financial performance, while fostering continued development and prosperity in the communities where we operate. Our commitment to excellence and sustainable growth allows us to create long-term value for our employees, customers, and strategic partners.” – added Agut.
2024 Highlights
CASINOS The 2024 annual results for the Casino Division have outperformed the strong performance of 2023, driven by the addition of new casinos in Mexico, Colombia, and Panama. The Company has continued to deliver on its strategic approach, with the implementation and effective execution of commercial and efficiency plans, the selective renewal of its gaming machine fleet, and facility upgrades in over 15 casinos.
SLOT MACHINES SPAIN The Spain Slots Division delivered excellent results throughout the year, particularly in the fourth quarter of 2024. Both revenue and operating profit saw significant growth compared to 2023, driven by the successful commercial management of the new Manhattan Boom, Mirage, and Pyramid Cash Bar models installed in the bars & restaurants channel, along with operational improvements provided by the Smart Gim solution.
SLOT MACHINES ITALY In Italy, the Retail channel has shown improvement due to a well-balanced product mix and optimization measures implemented at both service and personnel levels. However, the overall trend in the national AWP and VLT market has resulted in the Italy Slots Division’s performance falling short of expectations. In the fourth quarter, CIRSA laid the groundwork for expansion initiatives aimed at strengthening the Division’s presence in both the Bars & Restaurants and Retail channels starting next year.
ONLINE GAMING AND BETTING The Online Gaming and Sports Betting Division delivered outstanding results in the fourth quarter, achieving double-digit growth in both revenue and EBITDA across all channels and geographies. For the year, revenue grew to €420 million, a 29% increase compared to 2023. Notably, Apuesta Total, the leading subsidiary in Peru, which joined the Division last July, made a significant contribution. Furthermore, the completion of the acquisition of 68% of Casino Portugal in December—one of the leading online gaming companies in Portugal— further strengthens the Group’s digital expansion strategy in regulated and strategic markets.
Sustained growth and efficient execution of its strategy increased operating profit by 9.5% compared to the third quarter of 2023.
Terrassa, November 7, 2024.- CIRSA, a leading multinational in gaming and entertainment and the first company in the sector in Spain, generated 531 million euros in operating revenues and operating profit (EBITDA) of 173 million euros in the third quarter of 2024, 9.5% higher compared to the third quarter of 2023.
These results underscore the Company’s strong growth trajectory, driven by its strategy of prioritising key markets and continuously improving the offer and quality of service. As a result, operating income increased by 7.8%, while operating profit has risen by 9.5% compared to the third quarter of 2023. In the first nine months of 2024, the company reported EBITDA of 508 million euros and operating income of 1,564 million euros.
The recent acquisition of Apuesta Total, a leading company in sports betting and online gaming in Peru, reaffirms the Group’s significant commitment to the online channel in regulated markets. With this acquisition and the organic growth in this division, the online channel’s significance within the Group has increased, boosting its revenue from 14% of the Group’s total in the third quarter of 2023 to 21% in this quarter.
These results reaffirm the Company’s forecast from last June made for the entire year, reflecting the effective execution of operational plans across the different business units despite a prevailing environment of global macroeconomic and geopolitical uncertainty.
Highlights of the second quarter of 2024
CASINOS
The Casino division’s results for the third quarter of 2024 reflect a continued positive trend, driven by ongoing improvement compared to the previous quarter. The roadmap set out in recent years remains focused on the selective renovation of facilities, having remodeled several establishments throughout this quarter and renewed the machine park to improve the service offering for our customers. Likewise, the division continues with the strict execution of commercial plans and expense control policies, to offset inflationary increases mainly in LATAM countries.
SLOTS MACHINES SPAIN
The division continues to yield excellent results, both in terms of income and EBITDA, supported by a management model that focuses on the player, offering models that optimize customer satisfaction and product performance and specifically the Unidesa models “Manhattan Boom” and “Pyramid Cash Bar”.
Expense control and the achievement of commercial objectives underpin the strong results in the quarter.
SLOTS MACHINES ITALY
After a first semester focused on consolidating our operations in a challenging market environment, the division in Italy has outperformed the market, supported by product enhancements, support for points of sale, and effective cost containment measures.
The organization in Italy remains focused on continued product improvement, space design, service and staff, as well as cost control, which will be decisive factors to achieve the objectives in the last quarter of 2024.
ONLINE GAMING AND BETTING
The results of the online gaming and sports betting division were favorable in the quarter compared to the previous year, with significant growth in both volume and margin. The completion of the acquisition of Apuesta Total in Peru, boosted the division’s results, reinforcing the strategy of expanding the business in regulated markets.
The implementation of the operational plans designed by the different business units across all markets has resulted in an 8.3% improvement in operating profit compared to the second quarter of 2023.
The company has recently acquired Apuesta Total, a leading sports betting and online gaming company in Peru.
Terrassa, September 4, 2024.– CIRSA, a leading multinational in gaming and entertainment and the first company in the sector in Spain, generated 520 million euros in operating revenues and an operating profit of 171 million euros in the second quarter of 2024, once again beating its best quarterly records. These results represent a 3.9% increase in operating revenue and an 8.3% increase in operating profit compared to the second quarter of 2023.
These results have been made possible thanks to the Group’s commitment to improving performance, focusing on customer service and productivity, the two fundamental pillars of the Group’s sustainable growth, even in an uncertain macroeconomic environment.
On another note, the company recently announced the acquisition of Apuesta Total, the leading online gaming company in Peru. Apuesta Total operates under an omnichannel model that includes a comprehensive sports betting and online casino platform, combined with an extensive network of over 500 betting locations in Peru. The acquisition positions Cirsa as a leader in the Peruvian online gaming market, which was regulated in March 2024, strengthening its omnichannel strategy in Latin America.
Highlights of the second quarter of 2024
CASINOS The results of the Casino business unit for the second quarter of 2024 continue the positive trend and improvement compared to the previous year. The roadmap established in recent years includes the renewal of the slot machine fleet and the remodeling of casino facilities to enhance service for our customers.
The business unit continues with the strict execution of commercial and productivity plans, as well as selective growth of casinos, adding a new casino in Panama and another one in Colombia.
SLOTS MACHINES SPAIN The Slots Spain business unit has closed a strong second quarter, meeting revenue and EBITDA targets with solid performance in the commercial plan. The selective acquisition of high-quality points of sale and the addition of a new operation in Madrid have met the objectives of the expansion plan.
The industrial area has experienced very good growth momentum thanks to the excellent reception of the Manhattan Boom model in the bar & restaurant sector with the new Smart GIM (Integrated Money Management) and professional and efficient product management at the point of sale.
SLOTS MACHINES ITALY Thanks to the implementation of improvement plans by the Cirsa Group in Italy, we have managed to reduce the impact of the unfavorable market trends during the second quarter. CIRSA Italy remains focused on product improvement, support for points of sale (POS) at the service level, and the execution of productivity plans.
ONLINE GAMING AND BETTING The online gaming and sports betting business unit continues to show its dynamism with net income growth compared to the same period last year. Geographic diversification, combined with omnichannel strategies and customer intelligence, continues to yield results, complemented by the strong performance of acquisition campaigns, supported by both the sports calendar and recent regulatory changes.
The acquisition of Apuesta Total in Peru strengthens the growth strategy in online gaming and sports betting in regulated markets across Latin America.
The execution of the company’s strategic plans has allowed its operating profit to improve by 8.6% compared to the first quarter of 2023.
The company incorporates 7 new casinos in Colombia and opens operations with Sportium in Puerto Rico.
The company has published its new ESG 2023 report, which includes its commitments and results in terms of environmental protection, social responsibility and governance.
Terrassa, May 23, 2024.– CIRSA, a leading multinational in gaming and entertainment and the first company in the sector in Spain, generated 513 million euros in operating revenues and an operating profit of 164 million euros in the first quarter of 2024, once again beating its best quarterly records.
These results confirm the solid growth trend of the company’s business thanks to its strategy of focusing on key markets and continuously improving the offer and quality of service. They represent an improvement in operating income of 6.3% and operating profit of 8.6% compared to the first quarter of 2023.
Additionally, the company has recently published its new ESG 2023 report, which includes CIRSA’s commitment to growing its business in a responsible and sustainable manner, as well as the strategic lines of action in terms of environmental sustainability, social responsibility and governance for the future. The report uses both the Global Reporting standards Initiative (GRI), as well as the ESRS (European Sustainability Reporting Standards) regarding materiality analysis. The Report and other ESG-related materials can be found on the Company’s website at https://www.cirsa.com/sostenibilidad/
Highlights of the first quarter of 2024
CASINOS The results of the Casinos division during the first quarter of 2024 continue the good trend thanks to the improvement in results in all the countries present compared to the previous year. The roadmap outlined in recent years involves the renewal of the machines footprint, the casino facilities, where we have begun to remodel more than 10 sites during this quarter, as well as the strict execution of the commercial plans and cost control policies. In line with our multi-channel strategy, we also promote Sportium’s online offer in our casinos in regulated markets. During this quarter, 7 new casinos in Colombia have joined the group, adapting them to the group’s quality and service standards to improve customers’ entertainment experience.
SLOTS MACHINES SPAIN In the first quarter of 2024, the good results of the division stem from the continuity of the commercial plans focused on attracting the most suitable points of sale for recreational games and the offer of the most suitable product for each customer. The successful evolution of the Manhattan platform and the success in incorporating new games have contributed significantly to the success of this strategy.
The activity in the industrial area continues at a very good pace thanks to the great success of the launches of new models such as Manhattan Boom and Hit the link Bar for the Bars and Restaurants channel, and Pyramid Cash in the Gambling Halls channel. Inflation in raw materials and components costs has stabilized, and supply chain delivery times have normalized. In the Interactive area, specialized in gambling halls management systems, the growth of Forward Systems installations throughout Spain continued at a solid rate.
SLOTS MACHINES ITALY In Italy during the first quarter we have observed a significant improvement in Revenue and Ebitda largely thanks to the incorporation of the Modena Giochi operator in the second quarter of 2023 and the positive results of the product turnover plan.
The redesign of the premises and the reorganization of the machines footprint has borne positive results and continuity in the results, strengthening the betting areas and consolidating volumes.
ONLINE GAMING AND BETTING The online gaming and sports betting division significantly increased its betting volumes compared to the same period last year, although it suffered from lower margins as a common trend in the sports betting sector across Europe. The division continues to grow and strengthen its multichannel strategy, now in 8 countries (with the recent addition of Puerto Rico). In February, the activation of the exclusive sponsorship of the Kings League America kicked off, a sports property with a multi-jurisdictional impact, which joins the regional sponsorship of Manchester City with which the brand has been linked since 2022.
