Cirsa reported net operating revenue of €628m for the third quarter of 2026, up 12% year on year. Adjusted EBITDA rose 11.1% and quarterly net profit increased 48.1%, while shareholders are due to vote on the proposed merger with Lottomatica on 30 November.
Investors can assess Cirsa’s growth ahead of the proposed merger vote with Lottomatica.
Quarter ended 30 June 2026
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EGR reported on 11 September that Eduardo Morales-Hermo, a Spanish market expert, assessed the Lottomatica and CIRSA merger favourably. He said the all-share transaction would improve the combined group's retail and online operations.
Morocco, Tunisia and Egypt block offshore betting and treat it as a criminal activity without providing an online licensing route. The report places these restrictions alongside Lottomatica’s absorption of Cirsa’s casinos.
Cirsa shares closed nearly 20% higher, exceeding EUR16 per share after the Lottomatica merger announcement. The companies expect to complete the merger in the second quarter of 2027, subject to corporate and regulatory approvals.
Reportedly, Lottomatica chief Guglielmo Angelozzi voiced confidence in the CIRSA merger. He pointed to CIRSA’s eight leadership positions and separately highlighted opportunities in Italy.
Lottomatica described a merger with Cirsa as low risk. Angelozzi expressed confidence in Cirsa's management and said earlier deals had failed after Lottomatica sought excessive changes to acquired businesses.