CIRSA increases its profits - Euroslot - the independent voice of the amusement and gambling industry

CIRSA increases its profits

Published: 16 June, 2009

CIRSA's income for 2008 was 1,704 million euros with an operating profit (EBITDA) of 193 million euros, which represents an increase of 17.2% on profits on the previous year. The results reflect the growth the Group has sustained over the past 12 quarters. The collaboration of the various divisions within the Group was one of the keys to the success.

The takings from the Casino Division saw an increase of 10% due to the effect of optimising the machines and tables in the existing establishments, as well as the growth experienced in Argentina, Venezuela, Ecuador, The Dominican Republic and, more especially, Panama.

As regards the B2B Division, the interconnection of machines in the casinos and arcades, the development of a unique technology for coinless systems (play with ticket) and an improvement in the efficiency of the processing, explains the increase of 25% in this Division's takings.

In the national market, the income from the new range of machines, electronic bingo as well as improved services and catering, and the optimization of the operating costs, have in part compensated for the contraction of the market, estimated to be around 6.8%.

Finally, the opening of 20 new amusement arcades together with the expansion of the sports betting business run by Sportium also contributed to the Groups results. At the end of year this Division had opened a total of 55 points of sale and recorded 85,000 bets.

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