CIRSA stretches growth run to 72 quarters as World Cup drives online surge
2026-07-31
Source: SBC News
CIRSA reported a 72nd consecutive quarter of growth in Q2 2026, fuelled by World Cup-driven online gains and recent acquisitions in Paraguay and Portugal.
Spanish gaming operator CIRSA has recorded a 72nd consecutive quarter of growth, boosted by early-stage World Cup activity that accelerated its online business. In Q2 2026, net revenue increased 10.1% year-on-year to €637m, with adjusted net profit jumping 55% to €75m. EBITDA also improved, moving to €202m from €186.8m a year earlier.
Half-year performance and World Cup effect
For H1 2026, total net revenue came in at €1.26bn, up 9.1% year-on-year, while EBITDA rose 8.4% to €396m. Sports betting turnover advanced 10.8% over the period. The quarter captured the opening rounds of the 2026 World Cup, a campaign that ultimately went well for Spain's national side. Although the tournament was only at the Round of 32 stage by the end of June, it served as a major engine for user acquisition.
The online division saw especially strong momentum. First-time depositors grew 3.6 times, unique active players rose 96%, and new registrations increased 3.1 times. Online net revenue expanded organically by 14.9% in Q2, and online turnover for the first half was up 22.4%. Retail revenue also grew, by 10.2% in the quarter and 9.1% across H1.
Debt and regional expansion
The group's €375m refinancing cut financial costs by 40% while extending its debt maturity, leaving total net debt at €2.07bn. In regional terms, Latin America posted the strongest performance with growth of 12.1%, while Spanish revenue rose 7.7%.
CIRSA also completed a pair of acquisitions during the period. It bought Slots del Sol, Paraguay's leading online casino, a business that commands a 50% market share. The property has already produced a 66% improvement in average revenue per user and a 57% increase in active players. In Portugal, the company closed a deal for Casino Figueira, its first casino property in the country, which supports its omnichannel ambitions.
Looking ahead, the full impact of the World Cup's latter stages is likely to feature in the next report, positioning CIRSA to secure a 73rd consecutive quarter of growth in Q3.