Spain-based gaming operator CIRSA has acquired a majority stake in Paraguayan casino company Slots del Sol, marking its entry into a seventh Latin American market.
Slots del Sol currently operates two casinos and two gaming halls across Paraguay, alongside an online casino offering through Slotsdelsolonline.com.
CIRSA described the deal as fitting closely with its international diversification strategy and its broader push to strengthen its omnichannel presence in growing regulated markets.
The acquisition adds Paraguay to a Latin American portfolio that already includes Colombia, Peru, Mexico, Panama, Costa Rica, and the Dominican Republic.
CIRSA executive chairman Joaquim Agut said: “This acquisition reinforces CIRSA’s strategic commitment to accelerating growth in the online gaming space.”
Agut added that Paraguay represents an attractive and highly stable regulated market with strong fundamentals, and that Slots del Sol provides a leading platform to expand online capabilities across the region.
CIRSA chief executive Antonio Hostench praised the target company’s track record, stating: “Slots del Sol has demonstrated exceptional performance, with outstanding capabilities in online operations.”
Hostench said: “We 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.”
He added that the transaction would contribute to improving the margins of CIRSA’s online gaming business, signalling clear financial motivation behind the strategic move.
The deal will be financed using available cash and is not expected to have a significant impact on CIRSA’s overall leverage position.
The acquisition forms part of what CIRSA has described as an “aggressive M&A strategy,” a direction the company has openly emphasised over the past year.
CIRSA completed its initial public offering on Spanish stock exchanges in July 2025, seeking additional capital to fund acquisitions and targeting a total market valuation of €2.5 billion.
The Slots del Sol deal comes shortly after CIRSA announced a successful €500 million debt issuance, with proceeds earmarked to redeem a €375 million bond maturing in 2028.
Paraguay’s market liberalisation has created fresh opportunities for private operators following landmark legislation that dismantled the country’s long-standing gambling monopoly.
Following that legislative shift, Paraguay’s gambling market generated PYG215.9 billion in 2025, its highest figure on record and 22.9% higher than the previous year.
At the end of March, CIRSA owned 176 casinos across Latin America, spanning Colombia, Panama, Mexico, Peru, Costa Rica, and the Dominican Republic.
Paraguay now joins that footprint as CIRSA pushes forward with one of the more ambitious regional expansion strategies currently active in the Latin American gaming sector.
