Leading Spanish gambling operator and B2B provider of products and services for the industry CIRSA Gaming Corporation reported its financial results for the six months ended June 30, 2016. The company said that its operational plans have improved its operations across multiple jurisdictions and business verticals and this has resulted in the group’s overall improvement during the reviewed half-year.
The gambling operator/provider said that its results for the reported period actually exceeded management’s expectations. CIRSA generated operating profit of €197.1 million during this year’s first half, up 8% year-on-year. Operating income totaled €788 million, reflecting a 0.6% increase as compared to the figure posted for the same six months of the previous year.
Turnover for the three months ended June 30, 2016 remained relatively flat from the same period of 2015 and amounted to €399 million. Operating profit for the three months in question increased 7.4% year-on-year to €98.6 million.
Generally speaking, CIRSA operates and provides products in several industry verticals. It manages slot machines in restaurants, bars, cafés, and other recreational facilities across Spain and Italy. The Spanish company also operates land-based casinos in Spain and across Latin America.
CIRSA enjoys presence in the bingo sector, as well, through bingo halls in Spain, Italy, and Mexico. There it sells bingo cards and operates gaming machines. Sports betting and video lottery terminals are also part of the company’s offering. Under online gambling licenses from the Spanish and Mexican gambling authorities, CIRSA also provides iGaming services.
In general, the company operates 133 land-based casinos, more than 40,000 gaming machines, 71 bingo halls, 3,125 lottery and 2,558 video lottery terminals, as well as 1,700 sports betting outlets.
As mentioned above, apart from its B2C operations, CIRSA is also involved in the B2B sector. Its B2B division designs, manufactures, and sells slot machines and other related products to interested parties.
The gambling company said in its half-year report that its Latin American casinos performed very well during the reviewed period and revenue generated from those, as well as the implemented optimization plans contributed to the minimization of negative impacts arising from currency devaluations in the region. Spanish casinos once again performed in line with expectations.
Of its slots division, the operator said that the improvements in the business’ management team contributed to continued revenue growth during the reported period. Bingo operations improved considerably, according to the company’s report. CIRSA’s B2B business maintained its leadership in Spain and marked the successful launch of new products during this year’s first half.
