The Spanish operator Cirsa has reported €333.4 million in operating profits in the first nine months of the year.
Spain.- Spanish giant Cirsa has released its financial results for the first nine months of the year. During that period, the company registered €333.4 million in operating profits, representing a 9% rise from the previous year.
Cirsa’s income in the first nine months totalled €1.15 billion, which is a 7.2% increase when compared to 2018. In the latest quarter, the operating profits also rose by 10.4% to €118.7 million. These results were boosted by the acquisition of Giga Game System, which allowed the company to increase operations in bars, bingo clubs and streets.
The Spanish giant operates in nine countries and features 148 casinos, 85k machines, 76 bingo halls, 242 arcades and 2k sports betting terminals in its portfolio.
CEJUEGO: “Gaming in Spain is still recovering”
The gaming industry in Spain is one of the most updated ones among Hispanic countries. However, according to industry trade association Consejo Empresarial del Juego (CEJUEGO), it could perform better.
The body revealed that the current market is 20% smaller than it was in 2008. After the financial crash, it dropped and is still recovering from it.
CEJUEGO compiles an annual Gaming in Spain Yearbook with the University of Carlos III of Madrid and showed that the entire sector was worth €9.87 billion in 2018. It was 5% up on the previous year following a fourth consecutive year of growth. However, now it is 20% under its 2007 performance.