Acquisition aligns with CIRSA’s omnichannel strategy and continues its Latin American expansion
Spain and Latin America-facing gaming operator CIRSA has acquired a majority stake in Paraguayan casino operator Slots del Sol.
The agreement sees CIRSA enter the Paraguayan market for the first time, with Slots del Sol operating two casinos and two gaming halls in the country, as well as an online casino offering through Slotsdelsolonline.com.
CIRSA said that the acquisition fits closely with its international diversification strategy and strengthens its omnichannel strategy with a leading position in a growing market.
“This acquisition reinforces CIRSA’s strategic commitment to accelerating growth in the online gaming space,” said CIRSA executive chairman Joaquim Agut. “Paraguay represents an attractive and highly stable regulated market, with strong fundamentals, and Slots del Sol provides us with a leading platform from which to continue expanding our online capabilities in the region.”
CIRSA chief executive Antonio Hostench commented: “Slots del Sol has demonstrated exceptional performance, with outstanding capabilities in online operations. We are delighted to partner with its founding shareholders and are confident that we will be able to combine our global experience and best-in-class capabilities with their local knowledge and expertise to drive future growth. The transaction will contribute to improving the margins of our online gaming business.”
The transaction will be financed with available cash and is not expected to have a significant impact on CIRSA’s leverage.
At the end of March, CIRSA owned 176 casinos in Latin America, including 78 casinos in Colombia, 36 in Panama, 30 in Mexico, 19 in Peru, seven in Costa Rica and six in the Dominican Republic.