from slot machines, casinos and bingo to online games and betting

The group, preparing for its IPO, is structuring its activities around four major areas: amusement machines in Spain and Italy, casinos, online games and sports betting.

From amusement machines or slot machines in bars and game rooms to casinos, bingo halls and sports bookmakers, including online games. This sums up Cirsa’s offering in the gaming sector, which has brought together the company founded in 1978. brothers Manuel and Juan Lao as one of the largest companies in the world in terms of its activities.

As EXPANSIÓN announced on Wednesday, the group has begun preparations to enter the Spanish stock market without a specific schedule and has used the services of Deutsche Bank, Barclays and Morgan Stanley to do so.

Headquartered in Terrassa (Barcelona), Cirsa is currently present in nine countries in Southern Europe, Latin America and North Africa and last year generated operating income of €1.991 million across the various segments in which it operates. EBITDA amounted to 630 million euros.

The company’s mandate, 100% controlled by the American investment group Blackstone, has since 2018 been reflected in a total of 434 casinos, gaming and bingo halls in Spain, Colombia, Panama, Mexico, Peru, Costa Rica, the Dominican Republic and Morocco. closing of the last financial year; a fleet of 82,000 amusement machines, almost 2,500 physical sports betting outlets and growing activity in the online gaming business, of which Sportium is the star brand. Additionally, on an industrial level, Cirsa designs and produces its own slots.

Business units

Under the leadership of President Joaquim Agut, who took the reins of Cirsa in 2006 after leading General Electric (GE) in Europe and serving as president of the defunct Terra and Endemol, the Catalan company has structured its activities around four major divisions: the casino – which includes itself gaming halls and bingo – entertainment machines in Spain and Italy – there is a business unit for each country – as well as online games and sports betting.

The casino district, unlike others, generates the highest revenue and EBITDA. As of 2023, this division generated a turnover of 931 million, almost 47% of the total, and 62% of operating profit, amounting to 391 million euros. In Spain, the group operates four casinos located in Las Palmas de Gran Canaria, Valencia, Marbella (Malaga) and Lloret de Mar (Girona), and also has about eighty bingo halls and just over 180 gaming halls with entertainment machines.

In the amusement machine business, Cirsa had 25,250 units at the end of 2023 in Spain, 450 less than a year ago, and 13,463 in Italy, including slot machines and video lottery terminals, 3,904 more than in 2022. following the purchase of Modena by the Giochi company in April last year. Last year, the Spanish slot machine division earned 395 million euros and EBITDA of 169 million; In Italy, turnover was 362 million and operating profit was 27 million euros. In total, these two divisions account for 38% of consolidated revenue and 31% of operating profit.

Finally, in 2023, online gaming and betting had a turnover of €325 million and EBITDA of €44 million, representing 16% and 7% of the total business respectively.


With the Sportium brand as its flagship, the digital and betting business, mainly sports, is experiencing the highest growth rates in Cirsa, primarily driven by its development in Spain, Italy and Mexico.

Last year, this hybrid business unit, combining digital and face-to-face formats, grew revenue by 52% compared to 2022, and operating profit increased by 30%. This leap forward was facilitated, on the one hand, by the omnichannel strategy developed by the company, and on the other, by business expansion through acquisitions of companies in the same sector.

In 2022, Cirsa bought E.Play 24 in Italy and acquired Ganabet in Mexico, where it decided to implement the Sportium brand. The group currently has online gaming licenses in Spain, Italy, Colombia, Panama and Mexico. The desire for this division is also reflected in the landing of troops in new countries. The latest was Puerto Rico, where Cirsa was implemented so far only in a personal format by a local businessman involved in managing racetracks. In the meantime, the group continues to evaluate new inorganic growth opportunities in this business unit.

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