The conclusion of this deal, announced in mid-September, took place around two months after the Competition Authority approved it, as it is not likely to create “significant obstacles to effective competition in the national market”, according to a report by ECO.

The weeks that followed were sufficient for “all conditions precedent for the completion of the acquisition to be met, including the receipt of anti-competitive and local gaming regulatory approvals” on December 20, 2024.

Until then, Casino Portugal (SFP Online) was mostly owned by two companies governed by Portuguese law: Sociedade Figueira Praia – from Amorim Turismo and operator of Casino da Figueira – and Local Gate, led by António Maria de Sousa Bandeira Couceiro Laranjo and Jorge Manuel Salazar Coelho Gonçalves.

“This acquisition is consistent with our M&A [mergers and acquisitions] strategy, focused on the online space and positions Cirsa as a significant player in the relevant Portuguese online gaming and sports betting market, which is among the fastest growing markets in Europe. The transaction will be financed with cash available at Cirsa and the impact on the group's pro forma leverage is not significant”, detailed the new owners.

By 2024, Casino Portugal should have recorded gross gaming revenue of more than 15 million euros, according to Cirsa's forecasts. The Spanish group, which was the first company in this sector in Spain, had an operating profit (EBITDA) of 173 million euros in the third quarter (latest financial data available), which corresponds to a year-on-year increase of 9.5%. Operating revenues were 531 million euros.