CIRSA achives €103.4 Million operating profit in the first quarter of 2019, an increase of 8%
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CIRSA, a leading global gaming and entertainment company and the sector’s first company in Spain, generated an operating profit of €103.4 million in the first quarter of 2019, that is, an increase of an 8% over the same period in 2018. Operating income amounted to €379 million, up 8.5% on the same period in 2018.
Q1 2019 Highlights
CASINOS
The Casinos division closed the first quarter with a significant improvement in its results, following the strict implementation of foreseen plans in all territories where the company operates. Highlights were the successful re-launch in the fourth quarter of 2018 of the Jaragua Casino in the Dominican Republic and the new El Fuerte, El Dorado and Aguadulce halls in Panama, as well as the start-up of 14 expansion and remodelling projects in various casinos.
SLOTS
The Slots division in Spain continued to consolidate the positive revenue trend, with an improvement in the first quarter of 2019 based on both operating and commercial efficiency and product management, particularly with the successful introduction of the On The Rocks and Galaxy models, developed by the B2B -UNIDESA industrial division.
ITALY
In Italy, the company maintains its leadership in machine revenue in both AWP machines and video lottery terminals (VLTs), mainly due to the optimisation of the product mix and a tough selection of points of sale in the HORECA and arcades channels. Thus, global revenue continued to grow even though its results were reduced by the tax increases approved by the Italian government in 2018.
BINGO HALLS
The Bingo halls division in Spain managed to significantly improve its revenue thanks, among others, to the project to remodel and expand the product in the Andalusia halls, the improvements made in the application of Dynamic Bingo in Madrid, and the replacement of the Binjocs machines by Univers in Catalonia, a model developed by UNIDESA.
MEXICO
In Mexico the improvement of revenue in all existing business activities in the country was noticeable, as well as the remarkable increase in the customer base.
B2B – UNIDESA
The Industrial division maintained its leadership in the HORECA channel thanks to the new On The Rocks model. Also important was the successful introduction of Univers in arcades and bingo halls in Catalonia, and the continued sales of the SENSATION model for arcades throughout Spain. The Interactive area marked the good results of the Forward Systems for arcade management, recently introduced, both in casinos in Peru and in arcades in Spain.
ARCADES
In the first quarter of 2019, this division continued the trend of recent quarters, improving on the 2018 results. A highlight was the gradual introduction of the SENSATION machine from the UNIDESA industrial division. In the same period, the new TOKA image and concept continued to be implemented in various arcades, as well as the B2B – UNIDESA’s Forward Systems management solution.
SPORTIUM
Sportium significantly increased net revenue in the first quarter of the year in all territories, as did the Digital channel. Having completed deployment in all autonomous regions in Spain, organic growth comes hand-in-hand with technological improvements, with new functionalities on the Sportplay and Sportbox terminals, and exclusive content such as horse and greyhounds races on international racetracks and dog tracks.
About CIRSA:
CIRSA is a global gaming and entertainment leader and Spain’s first company in the sector. Its offering in 9 countries consists of 150 casinos, more than 75,000 gaming machines, 70 bingo halls, 191 arcades, 3,000 sport betting points and the industrial division, which is in charge of the research, design and manufacturing of gaming machines, arcade management solutions and machine interconnection. It also has online gaming licences in Spain and Colombia.
As of 1 January 2019, CIRSA reports its financial statements in accordance with IFRS 16 (International Financial Reporting Standards).
Source: Latest News on European Gaming Media Network
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