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Spain – Grupo Orenes confirms it is ready to invest €92m

By - 30 April 2019

Spanish betting operator Grupo Orenes has approved an investment plan for this year that will exceed €92m.

The company will focus its efforts during the coming months on enhancing its position as a developer and provider of state-of-the-art technological solutions, as well as promoting the diversification process initiated to direct its activity towards integral leisure throughout the country.

To do this, it has allocated a budget in 2019, based on business levels reaching €650m of revenue and more than €100m of EBIDTA.

The investment plan is backed up by the fourth and final part of a syndicated loan of €55m. In total banks such as BBVA, Bankia, Banco Santander, CaixaBank, Bankinter and Sabadell have participated in offering the combined loan of €255m.
CEO, Javier López Cerrón, said: “We are in the process of a transformation to strengthen our leadership as technology and leisure operators. We have closed our 2016-18 triennial business plan, where the Group has invested more than €300m, creating 1,000 new jobs. 2019 is a year of transition, restructuring, reinforcement and improving our efficiency. We intend not only to consolidate the results of the past year, but to continue increasing them, for this reason we have devised this €92m investment plan. Our social and political commitment to CSR will continue to be the backbone of our activity.”

The company, based in Murcia, closed 2018 with a turnover that exceeded €520m, an operating profit of more than €90m and a workforce of more than 3,000 people.

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