Cirsa reports Q1 revenue and profit rise: mostly driven by organic growth

Cirsa has reported operating revenue of €623m for Q1 2026, up 8.0% year-on-year from Q1 2025, while operating profit increased 8.5% to €194m. The results represent new quarterly records for the company. EBITDA came in at €193.9m, also up 8.5% year-on-year.

The online business unit delivered growth of more than 10% excluding foreign exchange effects, supported by a 22.4% increase in turnover, which offset the impact of customer-friendly sports results. In the absence of significant M&A activity, growth was fully organic.

The online gaming and sports betting division was driven by strong performance in key markets including Spain, Italy and Peru.

Retail business units grew 8.0% in the period. Slots Spain revenue increased by 13.1% supported by double-digit growth in both the slot route and B2B businesses.

The main performance driver remains higher revenue per machine, as the number of slot machines has remained broadly stable compared with Q1 2025. While there was some contribution from M&A completed in Q4 2025, the vast majority of growth was organic.

The casinos business unit grew 8.3%, with key focus areas including the integration of casinos in Peru and Morocco acquired in the final quarter of last year.

Overall, there was no significant M&A activity in Q1 2026, meaning mainly acquisitions completed in Q4 2025 contributed to year-on-year growth.

The operator said it began 2026 with strong growth momentum, driven by a clearly defined strategy, solid operational execution and a strengthened financial position. It reported solid organic growth across all geographies and channels.

For the full year, the Group expects to invest more than €200m in organic growth and operational improvements, with total investment expected to exceed €350m when planned acquisitions are included.

In 2025, Cirsa reported operating profit of €753.5m, up 7.8% year-on-year, and net profit of €72.9m, exceeding investor guidance.