Nov 25 (Reuters) - Spanish gambling company Cirsa

said on Tuesday its net result swung to a profit in

the third quarter, largely driven by revenue growth in its

online betting business.

Cirsa's net profit stood at 15.2 million euros ($17.5

million) in the quarter, compared to a loss of 10.3 million

euros a year ago.

The Barcelona-based company said all its business units

reported higher revenues than last year, and raised its

full-year core earnings forecast to between 750 million and 753

million euros, instead of the previously guided 740-750 million.

Cirsa was listed in July by private equity giant Blackstone

in an initial public offering that valued it at 2.52

billion euros. Blackstone kept a 78% stake in Cirsa.

However, shares in the company, which operates casinos,

gambling platforms and slot machines in Spain, Latin America,

Italy, Morocco and Portugal, have fallen around 16% since their

listing.

They have been weighed down by a read-across from the other

sector players, Britain's gambling tax hikes and "customer

friendly sporting results", although in reality these factors

have a minimal impact on Cirsa, analysts from Deutsche Bank said

ahead of the results.

($1 = 0.8678 euros)