SBC News Group efficiency strategy pays off for Grupo Cirsa in 2016

Group efficiency strategy pays off for Grupo Cirsa in 2016

Publishing its full-year 2016 results, Spanish gambling group Grupo Cirsa (Cirsa) has declared its ‘best year in business’, as the company benefits from the growth of its home market assets and Latin America operations.

Detailing its FY 2016 financial breakdown, Cirsa would report flat-line group revenues of €1.6 billion. However, the company would benefit from its ‘group efficiency strategy’ which saw the company report improved efficiencies across its top-line metrics.

Closing its FY 2016, Cirsa governance would declare group profits of €398 million up 5% on corresponding FY 2015’s €380 million. Cirsa CEO Joaquim Agut was pleased with his firms ‘steady progress’, which has seen Cirsa claim ‘42 consecutive quarters of growth’.

“The correct implementation of the group’s operating plans in the various locations and businesses and the overall improvement of all activities in Spain have helped to achieve these results, which have exceeded market expectations,” Agut stated

Detailing 2016 operational highlights, Cirsa governance would point to the firm’s continued Latin American expansion which saw the operator launch casino properties in the Dominican Republic and Colombia.

Cirsa governance would additionally recognise the improved performance of its Sportium Ladbrokes joint venture which currently operates retail betting points in 15 of Spain’s autonomous communities.  Furthermore, the sports betting brand has benefitted from expanding its online services to include casino games and slots. Working in partnership with Ladbrokes, Cirsa has formed high coverage partnerships with Spanish football making Sportium one of the market’s most visible brands.

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