Casablanca – Spanish gaming and entertainment group Cirsa has expanded its presence in Morocco by acquiring a 50% stake in the Grand Casino La Mamounia in Marrakech, marking one of the most significant cross-border investments recently recorded in the country’s gaming and hospitality sectors. The deal, finalized through the company’s international arm, Cirsa International Business Corporation, reinforces Cirsa’s long-term strategy of entering high-growth markets through non-organic acquisitions.

The casino, located inside the internationally renowned La Mamounia Hotel, is one of the most emblematic entertainment venues in Marrakech, frequently associated with luxury tourism and high-end hospitality. Its acquisition is viewed as a strategic step that aligns Cirsa with the city’s booming tourism industry, particularly as Marrakech prepares to welcome major international events in the coming years.

Expansion aligned with global growth strategy

According to Cirsa, the acquisition is part of a broader international development plan that prioritizes entry into markets with “high added value.” The company emphasized that Morocco fits this profile due to the growth of the country’s tourism industry and the increasingly favorable climate for hospitality and leisure investments.

The group confirmed that the entire transaction was financed through its own liquidity, reflecting a deliberate approach that avoids added financial pressure or major balance-sheet adjustments. Cirsa stated that the acquisition “will not have a significant impact on debt levels,” noting that expected improvements in operational profitability after integration will further reinforce financial stability.

The deal adds a key asset to the company’s international portfolio, which includes casinos, gaming halls, and slot-machine operations across Europe and the Americas. Cirsa views Morocco as a long-term strategic market where tourism flows and entertainment demand continue to increase.

Operational continuity and employee stability

One of the core messages communicated by Cirsa during the acquisition announcement was its commitment to stability within the casino’s existing operational structure. The company confirmed that the current management team will remain in place and that no immediate changes are expected in governance, staffing, or daily operations.

This approach mirrors its previous acquisitions in both Morocco and other markets, where Cirsa typically maintains local management teams to preserve operational continuity and customer service standards. The group described the acquisition of La Mamounia’s casino as fully consistent with past expansion moves.

Strengthening Cirsa’s footprint in Morocco

With this deal, Cirsa will operate four casinos in Morocco, consolidating its presence in a market where it first established itself in 2016 through the acquisition of a facility in Agadir. The company later expanded by launching a second entertainment complex in the same city, and since 2022 it has managed the only casino in Tangier.

During the first half of 2025, Cirsa reported strong growth in Morocco, driven largely by the performance of its slot-machine operations. Although still representing a relatively small portion of the group’s overall financial results, Morocco accounts for 3% of total operating profit. Spain remains the company’s largest market with 47% of operating income, followed by Panama at 11% and Colombia at 9.6%.

The addition of La Mamounia’s casino reinforces Cirsa’s ambitions to broaden its network in North Africa while capitalizing on Morocco’s dynamic tourism economy. Marrakech, in particular, has grown into one of Africa’s most visited destinations, attracting millions of tourists annually and positioning itself as a prime location for hospitality and leisure investments.

Broader investment momentum in Marrakech

The acquisition also reflects the growing appetite of European companies for investments in Marrakech’s leisure and hospitality sectors. With international tourism recovery accelerating and major development projects underway in preparation for the 2030 World Cup, the city has become a magnet for foreign investors seeking opportunities in entertainment, luxury accommodation, and high-value tourism services.

Analysts note that Cirsa’s entry into one of Marrakech’s most iconic establishments sends a strong signal regarding investor confidence in Morocco’s regulatory environment, economic stability, and long-term market potential. The deal is widely viewed as a milestone in the evolving partnership between Spanish enterprises and the Moroccan tourism and entertainment industries.

Financial background and broader corporate context

The acquisition also comes at a time when Cirsa continues to optimize its financial structure ahead of its future listing plans. Recently, the group repaid principal on outstanding senior secured bonds amounting to the equivalent of $666.66 million, originally set to mature in 2027 with a 4.5% interest rate. This repayment was supported by fresh capital raised through the issuance of fixed and variable senior secured bonds maturing in 2031 and 2032, respectively, with a total nominal value of approximately $1.15 billion.

This strengthened financial position enables Cirsa to pursue new acquisitions while maintaining manageable leverage ratios — a strategy highlighted by the company as essential to preserving long-term growth prospects.

With the acquisition of 50% of the La Mamounia Casino, Cirsa deepens its commitment to Morocco’s entertainment industry, positioning itself as a major player in one of the region’s most dynamic tourism markets and reinforcing investor confidence in the country’s economic trajectory.