South American expansion aids Cirsa 2015 profit gains

cirsa

Presenting its full year 2015 results, Spanish gambling operator Grupo Cirsa detailed that it had recorded growth in all core markets.

Cirsa would post full-year group revenues of €1.8 billion representing a 16.5% increase on 2014 performance.  Its revenue uplift would transfer to an improved group EBITDA of €380 million up 14% on FY 2014 results.

Detailing performance drivers, Cirsa governance stated that in 2015 the company had been able to maintain its ‘international expansion strategy ‘ successfully with the operator recording substantial growth in new markets of  Colombia, Argentina, and Panama.

The operator stated that it will continue its global expansion in 2016, having completed casino resort acquisitions in Morocco, Puerto Rico and Costa Rica. Cirsa international strategy will be funded by the €500 million bons issue the company secured from Deutsche Bank in May 2015. 

In its home market of Spain, Cirsa continues to implement its cost saving strategy focusing on  furthering operational efficiencies throughout its casino and bookmaker retail points.

Cirsa governance noted that 2016, would see the full implementation of its Unidesa product line, a fruit machine manufacturer targeting Spanish bars and bingo halls. The full integration of Unidesa inventory will see Cirsa significantly increase its games coverage within the Spanish gambling market.

 

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