Spanish gaming giant Cirsa has made a strategic move to capitalize on the burgeoning Portuguese iGaming market by acquiring a majority stake in CasinoPortugal.pt. This acquisition strengthens Cirsa’s position as a major player in the European gaming landscape and presents exciting opportunities for both companies.
Key Points of the Acquisition:
- Cirsa Acquires Controlling Stake: After finalizing a share purchase agreement last September, Cirsa now owns 68% of CasinoPortugal.pt, having secured all necessary regulatory approvals.
- CasinoPortugal.pt’s Market Strength: Founded in 2017, CasinoPortugal.pt has established itself as a leading Portuguese operator, anticipating gross gaming revenue (GGR) to surpass €15 million in 2024. This strong performance highlights the company’s successful business model and loyal customer base.
- Cirsa’s Expanding Portfolio: The acquisition bolsters Cirsa’s iGaming and sports betting offerings, which already include the well-known Sportium brand in Spain and Apuesta Total in Peru, acquired in July 2024. This strategic move demonstrates Cirsa’s commitment to growth and diversification across international markets.
A Thriving Market Beckons
Portugal’s regulated iGaming and sports betting market is experiencing phenomenal growth. Revenue surged by an impressive 24% in Q3 2024, reaching a record high of €266.3 million. This growth is segmented into €175.1 million for iGaming and €91.2 million for sports betting, reflecting the diverse preferences of Portuguese players.
Analyst Viewpoint
Industry analysts see Cirsa’s acquisition of CasinoPortugal.pt as a win-win scenario. Cirsa gains a foothold in a flourishing market with immense potential, while CasinoPortugal.pt benefits from Cirsa’s extensive experience and international reach. This collaboration is likely to unlock new growth avenues for both companies and potentially lead to a wider range of gaming products and services for Portuguese customers.
Looking Ahead
The Portuguese iGaming market is expected to maintain its upward trajectory in the coming years. Cirsa’s timely acquisition positions the company to capitalize on this growth and become a major force in the Portuguese gaming scene. With its combined strengths, the future looks bright for both Cirsa and CasinoPortugal.pt.
