Spanish betting and gaming operator Cirsa has entered the Portuguese iGaming market after completing the acquisition of a majority stake in CasinoPortugal.pt.
Having entered into a share purchase agreement last September, Cirsa now owns a 68 per cent stake in the Portuguese operator after satisfying all conditions precedent to the acquisition, including the receipt of antitrust and local gaming regulator approvals.
Since being founded in 2017, Casino Portugal has grown to become one of the market’s biggest operators and expects to report gross gaming revenue (GGR) of more than €15 million for 2024.
The acquisition further enhances CIRSA’s iGaming and sports betting offering, which includes the Sportium brand in Spain and Peru’s Apuesta Total, which was acquired last July.
Portugal’s regulated iGaming and sports betting market saw revenue increase by 24 per cent to a new quarterly record of €266.3 million in the third quarter of 2024, comprising iGaming revenue of €175.1 million and betting revenue of €91.2 million.