Cirsa, a major player in the gambling industry, reported a significant boost in its online gambling and betting revenue for the financial year 2025. The company, which operates in multiple jurisdictions, saw a 25.8% year-on-year increase in online revenue, marking a notable shift towards digital platforms. This growth is attributed to the firm’s robust omnichannel strategy, positioning Cirsa as a key operator within regulated markets. The relevance of this development is seen in the broader context of regulatory and market dynamics, where digital adaptation is increasingly critical for maintaining competitive edge and compliance.
For the fiscal year ending December 31, 2025, Cirsa recorded total group revenue of €2.34 billion ($2.76 billion), representing an 8.8% rise compared to the previous year. The surge was seen across its core business units, yet it was the online segment that experienced the most substantial growth. Online gambling accounted for 22.5% of Cirsa’s total revenue, compared to 19.5% in the previous year. The company attributed this success to its focus on enhancing the customer experience, which resulted in a 49% increase in the active user base, reaching 2.4 million users by the end of the year.
Central to Cirsa’s success is its omnichannel approach, which seamlessly integrates online and offline operations. This strategy involves functionalities such as cash-in and cash-out options at over 5,000 retail betting points globally and features that allow customers to bet across platforms while managing balances between channels. The company also expanded its online casino games by 30% and introduced new sports betting features like bet builders and early payouts. Additionally, its acquisition of Apuesta Total in Peru bolstered its presence, aligning with Cirsa’s strategic objectives and demonstrating effective integration into the broader business framework.
On the land-based front, Cirsa’s revenue also increased year-on-year. The casino sector remained the largest contributor, generating €989.5 million, which reflects a 4.9% growth. This increase was primarily organic, as acquisitions made in late 2025 had limited impact on the year’s revenue. Cirsa’s acquisition strategy, focused on adding properties in existing or adjacent markets, includes new venues in Marrakech, Morocco, and Peru. This approach aims to minimize risks and capitalize on synergies without inflating operational costs.
In Spain, slot machine revenue climbed by 5.4% to €436.5 million, predominantly through organic growth. The acquisition of a slot route operator in Valencia completed at the end of December had minimal influence on these figures. Meanwhile, Italian slot operations recorded a 10.6% revenue increase to €406 million, despite challenges in the retail market perceived as stagnant throughout 2025. Cirsa’s performance in Italy outpaced competitors, indicating effective market positioning.
Financially, Cirsa experienced increased expenditures across several areas, with the largest being gaming taxes amounting to €687.9 million. Despite this, the company saw operating profit rise by 14.6% to €382.1 million, and pre-tax profit increase by 67.6% to €186 million. After paying €68.4 million in income tax, Cirsa concluded the year with a net profit of €117.6 million, a 165.5% improvement from the previous year. EBITDA also rose by 6.8% to €746.6 million.
Looking ahead to 2026, Cirsa anticipates continued financial growth. The company projects that net operating revenue will be between €2.50 billion and €2.56 billion, reflecting a 7% to 9.5% uplift from FY2025. Additionally, EBITDA is expected to rise to between €800 million and €820 million, indicating a potential year-on-year increase of 7.2% to 9.8%. These forecasts suggest that Cirsa intends to build on its 2025 successes, leveraging its omnichannel strategy and strategic acquisitions to enhance its market position further.
As the gambling industry continues to evolve, regulatory scrutiny and market competition remain key considerations for operators like Cirsa. Ensuring compliance with regional regulations while expanding market reach will be crucial in maintaining sustainable growth. The company’s performance in 2025 sets a strong foundation, yet navigating the complexities of global gambling markets will require continued strategic focus and adaptability. The next steps for Cirsa involve implementing its growth strategy for 2026, with market and regulatory responses shaping the company’s future trajectory.
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