[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

Operator News

Spain – Cirsa boosts revenue by eight per cent

By - 3 June 2019

Cirsa has reported an operating profit of €103.4m in the first quarter, eight per cent more than in the same period last year, boosted by revenues which rose to €379m.

The multinational closed the first quarter with an increase in global revenues of 8.5 per cent, according to a company statement.

Its casinos division registered a “significant” improvement in its results after the incorporation in the fourth quarter of 2018 of the Casino Jaragua in the Dominican Republic and new rooms in Panama, among other projects.
Meanwhile its slots division in Spain experienced an improvement in revenues while its bingo halls also improved their results “significantly” after the remodelling and expansion of its products in the slot halls in Andalusia, as well as improvements to Dynamic Bingo in Madrid and the replacement of machines in Catalonia. The slot division in Spain continued to consolidate on the positive trend in revenues, with an improvement in the first quarter of 2019 based on both operational and commercial efficiency and product management, mainly with the successful introduction of the On The Rocks models and Galaxy, developed by the B2B industrial division Unidesa.

In Italy, the company maintained its leadership position in machine collection both via AWP machines and via video lotteries (VLTs) although its results were reduced by the tax increases approved by the Italian government in 2018.
The company also highlighted the improvement of its results in all existing business activities in Mexico while its sports betting division Sportium also closed the quarter with improvements obtaining a significant increase in net revenues in the first quarter of the year in all geographical areas as well as via its digital channels.

In December Cirsa recorded an operating profit of €95m in the third quarter of the year, from July to September, 6.7 per cent more than in the same quarter of 2017. In a statement, the company said that it had posted operating income of €367.3m, 5.3 per cent more than in the same period in 2017.

In March Cirsa reported an operating profit of €368.8m in 2018, up 5.1 per cent from 2017, despite the strong adverse impact of the euro’s exchange rate versus other currencies in the Latin American countries where the company operates. Operating income came in at €1,469.1m, a 5.2 per cent increase over the previous financial year.

Share via
Copy link