SBC News Voice of the Sports Betting Industry
Spanish gambling operator Grupo CIRSA has continued its strong 2015 momentum, reporting profits up 16% to €280 million for its year to date performance (period ending 30 September).
The Barcelona based operator would record a 19.5% revenue uplift to £1.2 billion driven by sufficient expansion in its Latin American markets notably Costa Rica and Peru.
To date, the operator maintained its improving performance in Spain by launching new product line Unidesa, a fruit machine manufacturer targeting Spanish bars and bingo halls. The launch of Unidesa has seen CIRSA significantly increase its games content coverage within the Spanish Market.
CIRSA governance stated that the company was effective at keeping its cost saving strategy which was implemented in 2014.
Group CEO Joaquim Agut was pleased with the operator performance stating: “In 2015 CIRSA has focused on efficient growth and productivity, combined with strict compliance, clear action plans and effective investments”
Agut stated that he confident that the company would beat its 2015 market expectations.
In May the operator announced that it had secured a new bond issue valued at €500 million. The funds would be used to allow CIRSA to extend its debt provisions by decreasing its current and future interest expenses.
