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Spain – Cirsa’s profits continue to rise

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Spanish operator Cirsa has reported an operating profit increase of €106.2m for the second quarter, representing an increase of 7.7 per cent compared to the same period last year.

Meanwhile operating income from the period April to May stood at €429.4m, up 7.6 per cent compared to the same period last year.

According to the company the casino division continued its growth, despite devaluations of Latin American currencies against the dollar. In July Cirsa signed an agreement with Novomatic to purchase the 17 casinos operated by the Austrian group in Peru. This is part of the company’s strategy to strengthen its business and strategic markets.

In Mexico the company highlighted the consolidation of the new Casino de Manzanillo which was acquired in 2017 as well as an increase in visitor numbers to all of its gaming rooms in the territory.

Meanwhile in Spain its slots division continued with its policy of updating its slot parlour network and continued its upward trend of revenue growth. Its bingo division also continued to grow and saw a “significant improvement” in its operating profit due to cost optimisation and the fact that bingo is becoming increasingly popular in the local market. The company also reported an increase in sports betting via its Sportium sports betting shops.

In November the company reported that it had increased operating profit by 6.3 per cent reaching €298.2m in the first nine months of that year. In the third quarter, operating profit exceeded €100m for the first time in its history, reaching €101m, an increase of more than three per cent compared to 2015.

Cirsa Gaming Corporation is one of the world leaders in gaming and the leading Spanish company in the sector. It has 17,000 employees. Its operates 134 casinos, more than 41,500 slot machines, 68 bingo halls, 171 gaming rooms, 2,000 sports betting sites, 3,125 lottery terminals and 2,578 video lottery terminals in Spain, Italy and Latin America. It also operates online gambling activity in Spain, Mexico and Panama.

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