Publishing its private accounts, Spanish gambling firm Grupo CIRSA has detailed solid corporate progress and growth, completing its first year under the ownership of US multi-national private equity firm Blackstone.
The Spanish legacy gambling group records 2018 group revenues of €1.4 billion, combined with operating profits of €368 million, up 5% on its 2017 performance.
Issuing a corporate statement, Joaquim Agut President of Chief Executive of CIRSA, details that the firm is delivering on its long-term growth strategy of becoming the ‘most complete Spanish markets gambling outfit – a comprehensive directive backed by new owners Blackstone’.
“I want to highlight the confidence shown by the new owner Blackstone” Agut stated “both in our Strategic Plan and in the team that is part of the organization. Personally, I would like to thank all the people who work at CIRSA for their total commitment and dedication, making possible both the transaction and the continued growth of the group. ”
In its update, CIRSA outlines that its revenue performance was impacted by a number of LATAM currency declines against the Euro.
Nevertheless, the gambling group continues to expand its Latin American profile completing the acquisitions of Casino Jaragua in the Dominican Republic and Casino Winland in Guadalajara Mexico, with both establishments set to be fully revamped with CIRSA gaming and management provisions.
Despite its LATAM obstacles, CIRSA governance marks 2018 as a year of home improvements, with the company delivering solid growth across its bingo and arcade network, which expanded its footprint in Andalucía.
Meanwhile, CIRSA B2B gaming machines division UNIDESA, won a number of Spanish arcade and leisure contracts, whilst delivering new machine product ranges to its Spanish and LATAM market clients.
CIRSA closed 2018, declaring that its Sportium joint-venture with Ladbrokes had established itself as the outright Spanish market betting leader, servicing 3,000 betting points across Spain.
Furthermore, Sportium has been successful in delivering new concepts to the Spanish sports betting market, introducing the nation’s first omni-channel player rewards system ‘Sportium Uno’ and full upgrading its ‘auto-service terminals’