Spanish multi-national casino and slots operator Cirsa is celebrating the generation of €183m ($211m) of EBITDA for Q3 2025 - that's a year-on-year increase of 5.7%.
This means that this Q3 has been the company's 69th quarter of consecutive growth (excluding the period covering the COVID-19 pandemic).
The consistent performance comes in the face of economic headwinds and has in fact outperformed the company's guidance set out at the beginning of the year.
Read as revenues, it's a similar story, with group revenues up 5.4%.
A driving force in this will have been a reduction in financial costs that has come about due to the refinancing of €1bn of debt.
This catalysed a net profit of 102% as of 30 Sept, and looking at the first nine months of the year together, total operating revenues stack up at €1.72bn.
The Blackstone-owned operator went public this year on the Bolsa Madrid stock exchange. After targeting a €2.5bn valuation, it managed to raise €400m against that figure, becoming the country's largest IPO since 2015.
With the company's casino division, the focus has been on renovation, expansion and Cirsa's technological upgrade programme, which involved the addition of 650 additional units.
This process covers core markets in Spain, Italy and Portugal, while also extending across the company's numerous active LatAm markets and a newly acquired casino in Marrakech, Morocco.
In Cirsa's home market of Spain, the company had its best ever year for slots. Both revenue and EBITDA were on the up.
Over in Italy and the story was one of recovery, with an unspecified double-digit growth figure for the Italian slots business' net revenues.
Online betting and gaming followed the trend of progress and posted 8.1% growth year-on-year.
The third quarter has even been a success away from the finances, with the company being recognised for a sector-leading ESG performance in some quarters.
As part of its IPO this year, Cirsa ruled out an entry into the Brazilian market in the near future.
