Adds guidance in paragraph 3, divisional details in paragraph 4, context in paragraph 5.

May 21 (Reuters) - Blackstone-backed Spanish gambling company Cirsa's CIRSA.MC first-quarter core earnings rose about 8%, it said on Thursday, citing stronger than expected performance from its retail and online betting businesses.

Cirsa reported earnings before interest, tax, depreciation and amortisation of €193.9 million ($225.3 million) for the quarter, up from €178.8 million in the same period last year.

The company, which operates casinos, gambling platforms and slot machines in Spain, Latin America, Italy, Morocco and Portugal, reiterated its 2026 outlook and said it was fully on track to meet the high end of its core earnings target range of €800 million to €820 million.

Earnings grew across all its businesses except for the online betting unit, which was affected by the progressive increase in gaming taxes in Peru.

Cirsa was listed in July 2025 by private equity giant Blackstone BX.N, though it has shed about 10% of its value since then. Blackstone kept a 78% stake in Cirsa after the listing.

($1 = 0.8605 euros)