CIRSA Achieves 73 Straight Quarters of Growth With Strong Third Quarter Results Ahead of Lottomatica Merger Vote
CIRSA, the Spanish gaming and leisure operator, posted operating revenue of €628 million for the third quarter of 2026, a figure that reflects a 12% year-over-year increase while operating profit climbed 6.8% to €195 million, or €203 million when merger-related costs receive exclusion. Company records show this marks the 73rd consecutive quarter of growth, a streak that underscores steady expansion across its core markets in Spain and Latin America. Observers note the adjusted profit margin held steady despite one-time expenses tied to the pending combination with Italy’s Lottomatica.
Performance Metrics Across the First Nine Months
Revenue for the first nine months of 2026 rose 10% compared with the same period in 2025, and operating profit advanced 7.8% during that stretch. Management guidance points to a full-year outcome at the upper end of previously issued targets, supported by continued momentum in both domestic and international operations. These results arrive as the company prepares documentation for the shareholder meeting scheduled on November 30, 2026, where investors will consider the proposed merger that would create a larger pan-European gaming group.
Merger Timeline and Shareholder Considerations
The November 30 vote represents the next formal step toward combining CIRSA with Lottomatica, a transaction that has already cleared several regulatory milestones. Company filings indicate the deal structure includes cash and share components, with integration planning already underway in areas such as technology platforms and regulatory compliance. Data from the third-quarter report shows merger costs totaled €8 million during the period, an amount excluded from the adjusted profit calculation to provide a clearer view of underlying operations.
Recent Expansions in Paraguay and Colombia
New casino acquisitions and openings in Paraguay and Colombia contributed to the quarterly revenue figure, adding both physical locations and additional gaming positions. These moves extend CIRSA’s footprint in regulated Latin American markets where demand for leisure and entertainment options continues to expand. Local authorities approved the new sites earlier in 2026, and initial performance data indicates occupancy rates aligned with company forecasts.
Construction timelines for the Colombian properties ran on schedule, while the Paraguayan acquisitions included existing operations that required only limited refurbishment before reopening under the CIRSA brand. Combined, the additions represent several thousand square meters of new gaming space and a measurable lift in slot and table game counts.
Operational Context and Market Position
Third-quarter results reflect broad-based contributions from CIRSA’s Spanish casino and bingo halls as well as its growing international portfolio. Revenue diversification across gaming verticals helped offset seasonal fluctuations typical in certain leisure segments. Figures released by the company detail how slot machine utilization and table game hold percentages remained within historical ranges, supporting the overall top-line advance.
Analysts tracking the sector point to CIRSA’s consistent quarterly record as evidence of disciplined cost management alongside measured expansion. The 73-quarter streak began well before the current leadership team assumed day-to-day responsibilities, yet recent capital allocation decisions have sustained the pattern through multiple economic cycles. Preparation for the Lottomatica combination has not diverted resources from day-to-day operations, according to the latest earnings materials.
Conclusion
CIRSA’s third-quarter 2026 report supplies concrete evidence of ongoing operational strength, with revenue and profit metrics advancing in line with internal targets. The upcoming November 30 shareholder vote on the Lottomatica merger now stands as the next milestone, while recent openings in Paraguay and Colombia add fresh capacity for future periods. All data cited originates directly from the company’s official release covering the three months ended September 30, 2026.