Valencia, Oct 14 (EFE) .- The vice president of gaming and entertainment group Cirsa, Manel Lao Gorina, said today that the casino that opened in Valencia company has become "one of the signs of the city" and has predicted that soon will be consolidated as "a benchmark in Europe."
This vice president has expressed Cirsa, Manel Lao Gorina, during the official presentation of the new casino of this company in Valencia, which was attended by representatives from business and political class in Valencia.
At the opening of casinos complex, which opened last August, the vice president of Cirsa has ensured that the casino has the machine park "more modern Spain, comparable to any casino in Las Vegas."
Although the Casino began operations two months ago in the city, today has made this debut after a shooting in which its facilities have received nearly 50,000 visitors.
These figures are "above the expectations of the company" and show "tourism potential" of an establishment called "boost the leisure offer in Valencia" with its 8,000 square meters of facilities that operate 17 hours a day, indicating Cirsa sources.
Lao Gorina highlighted Cirsa collaboration with the Administration and the City of Valencia Valencia "in these difficult times of economic crisis."
In his opinion, local and regional governments "have understood that the casino will be an important contribution to the growth of the city and all of Valencia."
Since its opening, has organized international poker tournaments have attracted players from 98 countries, accounting for 35 percent of visitors to the Casino.
From now on, every year Cirsa planned to be between ten and twelve national and international tournaments of poker, that will generate "a significant economic benefit" for related businesses such as hotels, taxis, restaurants and entertainment venues.
According to company estimates, nearly 2,000 players come out of town tournaments each year, with an average of three days in the city and a minimum expenditure of 300 euros per person per day.
The contribution of casino poker in sectors such as hospitality, transportation or hospitality "environment is estimated at 2 million euros during the first year," stated the manager of Cirsa Casinos in Valencia, Antonio Maeso.
The premiere institution has been two months after the casino opened its doors. It was an intense period of filming in the Casino CIRSA Valencia has received over fifty thousand visitors. No doubt a success. This exceeds their own expectations set by the company and demonstrates egarense tourism potential of the casino, a facility that aims to boost the tourism and leisure in the Levantine capital, thanks to a landmark project that occupies eight thousand square meters and operates for sixteen hours a day.
Together with the heads of CIRSA also participated in the inauguration Losé Escrig Miguel, Secretary of Economy, Finance and Employment. Just Escrig was responsible for throwing the first pitch at the wheel in this event.
During his speech, Manel Lao Gorina, VP of CIRSA, highlighted the efforts made by the company to boost the tourism in Valencia, adding to the city to take the international route of poker. Precisely this game is a major gamble for CIRSA this casino.
Manel Lao encrypted in two thousand the number of poker players who each year visit Valencia just to participate in these tournaments.
In parallel, the vice president said CIRSA economic investment has meant a commitment to Valencia, estimated at about fifteen million. He also highlighted the momentum that this casino has generated in terms of job creation and increased consumption in this city. The new casino is perched on one of the areas of greatest projection of the city of Valencia: the burgeoning of the Valencian Parliament Avenue, opposite the Palace of Congresses of Norman Foster, five minutes from Valencia Airport and Feria de Valencia, with five hotels and 1500 beds in their immediate environment.
The building, designed by Valencian architect José María Lozano, has been built with the aim of becoming an architectural landmark of the city, which also meets the strictest environmental criteria. Energy saving and bioclimatización have been the main guidelines for a fully sustainable building in both its conception and in its maintenance.
Sportium, the home of sports betting and Ladbrokes face of CIRSA has hired former player Michel, Getafe coach, legendary member of the Quinta del Vulture Real Madrid and the Spanish team.
Michel will be the star of the communication campaign for the entire 2010-2011 season. In addition, last October 20 was held in Zaragoza Sportium presenting an act directed at the main operators in Aragon, as well as Administration officials, state.
The company will open its first local as soon as you give the green light to the new rules of betting, currently in the process of being approved.
The strong demand for bonds CIRSA allowed the company to make the placement of new bonds at a price higher than the nominal (100.50%).
CIRSA will use the proceeds from this issuance to pay in advance short-term borrowings mainly € 230 million bonds due 2012.
Deutsche Bank was the entity responsible for directing the operation.
CIRSA, a leader in the field of play, leisure and entertainment, has successfully completed six bond issues on international markets since 2004.
Cirsa now, with this issue, has outstanding bonds totaling € 680 million due 2018.
The operation, led by Deutsche Bank, has enjoyed the full confidence of the financial community and has been widely endorsed, thanks to demand from Europe and America, both former bondholders as new investors.
Joaquim Agut, Director General of Cirsa, said: "the credibility generated in the debt market by the company, through its management team and backed by strict compliance with all its financial commitments over the last 17 quarters, has successfully facilitated this bond issue that allows the company to refinance until 2018. This has also been possible in a very complex economic environment and mainly affects, among others, to all of our long-term refinancing país.Esta management team will continue to focus on implementing their plans and in compliance their goals. "
The success of this issue is part of the strategy of CIRSA to strengthen its financial structure.
For more information:
Deutsche Bank
Myriam Gomez / Sofia Labastida
Phone: +34 91 335 58 80 / +34 91 335 56 54
E-mail: @ db.com myriam.gomez / sofia.labastida @ db.com
Press Office
Abbey Mage / Worthy Pastor
Phone: +34 91 577 92 72
E-mail: @ cic-rp.com mage.abadia / digno.pastor @ cic-rp.com
About Deutsche Bank:
Deutsche Bank is a leading global investment bank which has an established and profitable private client business. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 82,504 employees in 72 countries, Deutsche Bank provides financial services worldwide. The bank competes to be a leading global provider of financial solutions for its clients, creating exceptional value for shareholders.
www.db.com www.db.com / spain
About Cirsa
CIRSA Gaming Corporation is a world leader in gaming activity and leisure. Had revenues in 2009 of 1648 M €. Part of Nortia Corporation and has 34 casinos, 83 online casinos, 62,000 slot machines, 90 bingo rooms, 190 gaming halls, sports betting 102 points and 926 video lottery terminals.
Cirsa Gaming Corporation, a leading multinational company in the gaming and leisure sector and the largest in Spain, had an operating income of 1,774 million Euros in 2010, up 8% on 2009, their operating profit grew by 25% over the same year to reach 260 million Euros.
Despite the complexity of the current economic environment, especially in the Spanish market, Cirsa has met its operational targets and has once again exceeded the estimated earnings figures communicated to the market.
These results confirm the effectiveness of the group’s policy of prioritizing efficiency and productivity and also reinforce the positive evolution of the investments we have made. All of which has helped the group to exceed the market expectations.
The most notable aspects concerning the various business units are as follows:
• CASINOS DIVISION
Argentina, Colombia and Panama have contributed significantly to the excellent results posted by this Division.
In Argentina, the refurbishments and expansion of the products available on the Buenos Aires Boats and the favourable evolution of business at the Rosario Casino have been decisive. All key business indicators have shown significant improvement.
The merger of Winner and Unidelca in Colombia has created significant synergies and has also made Cirsa the largest operator in the country.
In Panama, the relocation of rooms to areas with higher traffic and potential, the expansion of the park of machines, the new room in Los Andes and the roll-out of the TITO system (ticket in-ticket out) have all increased earnings and market share so consolidating our leading position in the country.
In Spain, the weakness of the market has been counter-balanced by a strict policy of cost constraints and the favourable evolution of the new Valencia Casino which opened its doors during the second half of the year.
• B2B DIVISION
The success of the various models launched on the market during 2010 have confirmed the undeniable leadership of this division in the sale of recreational machines to the Spanish hotelier sector.
• SLOTS DIVISION
As with the other Spanish divisions, takings have seen a drop compared to the previous year. Although this has been compensated for by improved margins thanks to better management of the park of machines, heavy cost constraints and an ambitious rollout plan.
In Italy, the improved results were mainly due to higher earnings growth driven by product improvements and more efficient point-of-sale management.
Still in Italy, the new video lottery business was launched during the last quarter of 2009 which this year will reach a total of 2,583 units awarded by concession.
• BINGO DIVISION
In Spain, the Bingo Division has posted better results than the previous year. Said improvements were due to more efficient general management practices and the introduction of special electronic bingo machines in some halls.
Italy saw a substantial improvement in results driven by changes to the legislation surrounding prize percentages, which went from 58% to 70%. This had positive repercussions on visitor numbers and improved margins and earnings.
Mexico had an excellent year based on two key factors: the construction of larger halls, greatly improving the leisure products on offer, and the introduction of casino machines after the legislative changes which made this possible.
• BETTING
Sportium has consolidated itself as the leading chain of sports betting establishments in Madrid reaching 110 points-of-sale in 2010, a million bets are placed each month by the 25,000 customers arriving every week.
The highlights of 2010
• The expansion of the products on offer on the Buenos Aires boats, including a new 2,300 m2 reception building which includes a wide range of shops and restaurants.
• The favourable evolution of the 130,000 m2 Rosario leisure complex housing the largest casino in Latin America with 2,000 gaming machines, 80 traditional casino tables and 300 bingo seats.
• The introduction of Video Lottery Terminals (VLT) in Italy which includes a park of 2,583 machines authorised during the recent concession.
• The inauguration of the 4,000 m2 Valencia Casino housing 22 gaming tables, 135 gaming machines, a Poker room, café, restaurant and a spectacular floating stage which is the centre attraction the 2 main floors of the casino are based around.
• In Colombia, the merger of Winner (Cirsa’s main company in the country) and Unidelca, the owner of 49 gaming halls, has given the company 70 halls distributed throughout the country and consolidating its position as the leading national operator.
• The Bingo Arizona was launched in Bilbao. This is a new concept in urban leisure which combines high-class gastronomy with a wide range of leisure entertainment including: recreational machines with prizes, sports betting, bingo, live music, after-work sessions with DJs and excellent restaurant and cocktail facilities.
In a difficult and complex economic environment, which has been aggravated by the smoking ban legislation coming into force in Spain in January of 2011, the Cirsa Group will continue with its strategy of consolidating and improving the profitability of its current businesses in the areas in which it operates using efficiency and productivity programmes that will be combined with an investment strategy which is well-thought out and implemented with utmost care.
In the judgement of Cirsa’s CEO Joaquim Agut “the posting of such positive results in a complex economic environment such as this is down to the systematic execution of our strategy and a highly motivated team which is committed to achieving its goals. Their achievements have once again exceeded the expectations of the markets”.
Cirsa Gaming is one of the world leaders in gaming and leisure, with 32 traditional casinos, 83 electronic casinos, 33,000 recreational machines, 88 bingo halls, 140 gaming halls, 110 sports betting centres and 993 video lottery terminals in Spain, Italy and Latin America.
For more information:
Pablo Llorens Sunyer
Corporate Director for Image and Communications
CIRSA Gaming Corporation
Tel: +34 93 739 6828 - +34 93 739 6700
pllorenss@cirsa.com
• The operating profit for the first quarter came in at 70 million Euros, 21% higher than the same period last year.
• Favourable results from activities in Italy and Latin America and the group’s ongoing efficiency and productivity policy have made up for weakness in the Spanish market, aggravated by the smoking ban legislation which has negatively affected all businesses.
• Cirsa has hit its targets for 21 consecutive quarters.
CIRSA Gaming Corporation is a leading leisure and gaming company and the largest Spanish company in the sector; during the first quarter of this year, they obtained an operating profit of €70 million, 21% higher than the same period last year, operating income came in at €438 million, 7% higher than the first quarter of 2010.
The most significant aspects for the period were as follows:
All the Spanish business divisions have activated alternative plans in case the situation in this country becomes even more complicated as a consequence of the crisis and the smoking ban legislation. The situation has partly been mitigated by the positive reception of new models of recreational machines in hostelry establishments.
In the sports betting sector, Sportium now operates 118 points of sale in the community of Madrid and has begun its roll-out in Aragón with 21 points of sale. It is currently the only company with a licence to operate in the region.
In Italy, excellent results were mainly due to takings from new recreational machines and the progressive acceptance of Video Lottery Terminals (VLT). This combined with bingo activities which have consolidated their positive evolution thanks to a change in legislation providing for a higher percentage of prize money and more favourable tax legislation.
In Latin America, the casinos division continues to grow thanks to the driving force of the economy in the countries of that continent and the success of investments made there, particularly in Argentina, Colombia and Panama.
Mexico has consolidated its profitability with the expansion of the park of machines in existing halls, as well as larger halls and the selective opening of new halls using a multi-offering business model.
Despite the deterioration of the gaming sector in Spain, Cirsa is confident that it will hit its targets during the second quarter thanks to the commitment, efficiency and responsibility of the whole team.
Cirsa Gaming is one of the world leaders in gaming and leisure, with 32 traditional casinos, 83 electronic casinos, 32,500 recreational machines, 88 bingo halls, 140 gaming halls, 139 sports betting centres and 2,583 video lottery terminals in Spain, Italy and Latin America.
In the first half of this year, CIRSA, a leading gaming and entertainment company and the first Spanish company in the sector, achieved an operating profit of 141.2 million euros, up 14% over the first half of 2010. Revenues stood at 857 million euros.
In the second quarter, with a turnover of 419 million euros, operating profit reached 71.5 million euros, up 8% from that recorded in the same period last year.
The good performance of activities in Latin America and Italy and the rigor in the implementation and monitoring of operational plans and especially efficiency in the Spanish market, given the current situation and the Anti-Tobacco Law, have allowed Cirsa to achieve these positive results. For 22 consecutive quarters, CIRSA has fulfilled its commitments with the markets.
The most noteworthy aspects of the period are the following:
• The successful execution of product strategy made by the B2B division has made available a wide and innovative range of machines and kits of new games in Spain, a determining factor in consolidating its leadership in the hotelier channel, which translated into a market share above 55% at the end of the first half.
• Argentina, Colombia and Panama continue to lead the growth of the casino division in Latin America. The economic situation, the good performance of the investments made and an increasingly customised offer, tailored to different market segments, are the determining factors in obtaining excellent results in these countries.
• In Italy, the revenue increase derived from the implementation of the VLT (video lotteries), which started at the beginning of this year, in gaming and bingo halls is being decisive in achieving good results.
• Mexico maintains its upward trend, mainly due to the increase in the number of machines and the product mix management; this has meant an increase in visitors and, consequently, revenues.
• Sportium is consolidating and extending its leadership position in line with new regulations approved in the Autonomous Communities. It currently has 120 sale outlets in the Autonomous Community of Madrid and 50 in Aragon.
• Sportium covers more than 70 different sports and offers 60,000 betting options a week.
Despite the macroeconomic situation in Spain and its prospects in the short term, Cirsa is confident it will achieve its business objectives for the second half, as a result of the implementation of operational plans in Spain, the evolution of the Latin American economy and the development of activity in Italy.
Cirsa Gaming Corporation is a world leader in the leisure and gaming industry, and the top Spanish company in the sector. The company had an operating income of 1,774 million euros in 2010. It has 32 traditional casinos, 83 electronic casinos, 32,500 recreational machines, 88 bingo halls, 140 gaming halls, 139 sports betting centres, 1,250 lottery terminals and 2,583 video lottery terminals in Spain, Italy and Latin America.
For more information:
Pablo Llorens Sunyer
Corporate Director for Image and Communications
CIRSA Gaming Corporation
Tel: +34 93 739 6828 - +34 93 739 6700
pllorenss@cirsa.com
In the third quarter, CIRSA’s operating profit reached € 74 million, a 5.3% increase compared to the same quarter of 2010. The company’s turnover for this quarter reached € 429 million, similar to the same quarter last year.
The favourable evolution of Latin American economies and our activities in the region, the good performance of investments and the implementation of efficiency plans in the Spanish market have enabled the Group to achieve these favourable results. For 23 consecutive quarters, CIRSA has fulfilled its commitments with the markets.
The positive evolution of the Casinos Division continues, especially in countries with greater weight in the division: Argentina, Colombia and Panama. The main reasons that explain this positive evolution are: the success of the investments made, which include a new casino in Colombia, new halls and extensions in Panama and a significant increase in the park of machines in Argentina, together with a rigorous implementation of strict efficiency plans.
Also noteworthy are the good results of the tourist season in the Spanish casinos.
The wide and innovative range of the B2B division for the hotelier channel has allowed the company to maintain a market share above 55% in this period and further consolidate the leadership that it already holds in the Spanish market.
As regards the Operational Division in Spain, the remarkable renovation of machines, efficiency improvements in all processes and spending adjustment measures have helped to mitigate the market situation.
In the area of sports betting, Sportium (CIRSA’s brand in this business) is consolidating its leadership in the autonomous regions where the activity is regulated and has opened 190 outlets in Madrid and Aragon; it is the leading gaming operator in both regions.
In Italy, the positive development of revenue and results for the company continues helped by the successful implementation of VLT (video lottery) machines and the consolidation of traditional businesses of operating bingo halls and managing machines in hotels.
With these results as of September, despite the difficult situation in our country, CIRSA hopes to meet its operational plans by the end of this year and consolidate its leadership in Spain, Italy and Latin America.
CIRSA Gaming Corporation is a world leader in the leisure and gaming industry, and the top Spanish company in the sector. The company had an operating income of € 1,774 million in 2010. It has 32 traditional casinos, 83 electronic casinos, 32,500 recreational machines, 88 bingo halls, 140 gaming halls, 190 sports betting centres, 1,250 lottery terminals and 2,583 video lottery terminals in Spain, Italy and Latin America.
For more information:
HIGHLIGHTS FOR 2011:
The various business divisions performed as follows:
CASINOS DIVISION
Argentina, Colombia and Panama have contributed significantly to the excellent results posted by this Division.
B2B DIVISION
Thanks to a range of innovative new products, the B2B Division achieved a record market share of 57% in the sale of recreational machines to the Spanish hostelry market despite the difficult environment, it has now consolidated its leading position.
SLOTS DIVISION
The Spanish Operations Division has compensated for the effects of the crisis and smoking laws by implementing efficiency programmes, swap-outs and product rotation and reigning in costs, this was helped by its position as leader and the innovative product range provided by the B2B Division.
The Italian VLT video lottery market saw the machine park rise to 1,700 in 2011, very positive results are due to a combination of the product experience and technological support from the B2B Division, as well as Cirsa’s knowledge of the Italian market. Cirsa has also maintained its strategic position in the AWP machine market.
BINGO DIVISION
The Bingo market was the most affected sector in this country. Given the adverse conditions, the actions implemented in terms of management, cost controls, optimisation and efficiency, together with the remodelling of facilities, smoker’s clubs, loyalty programmes and a variety of marketing campaigns have, on the one hand, contributed to mitigating the difficult market conditions and, on the other, allowed Cirsa to consolidate its position as the undisputed leader in the sector.
BETTING
For more information:
Corporate Director for Image and Communications
CIRSA Gaming Corporation
Tel: +34 93 739 6828 - +34 93 739 6700
pllorenss@cirsa.com
The second half, saw earnings reach 449.9 million Euros, 7.3% more than in the same period of 2011, we also achieved the highest ever operating profit in a single quarter with 80.6 million Euros, an increase of 12.7% over the second quarter of 2011.
Twenty-six consecutive quarters of growth have exceeded all market expectations and can be put down to the correct use of development
The most significant aspects to highlight in this period are:
The positive evolution of Casino division operations in Latin-America, which have included expansions to of our halls and the number of machines as well as the implementation of new customer service technologies at thirteen facilities.
In the Bingo Halls division, Spain has seen improved results in the Bingo sector thanks to a firm policy of cost reduction and control together with the implementation of new regulations by some regional administrations designed to compensate for the consequences of anti-smoking laws and the associated decrease in demand.
The Arcades sector has seen the introduction of new gaming facilities in Andalusia as well as continued growth of sports betting in this channel in the region of Madrid and Aragon.
The B2B Division has maintained a firm hold on its leading position in recreational machines for the Spanish hostelry market with 55% of the market share.
New machine roll-outs and strict cost controls have decisively halted the fall in demand suffered by the Spanish Slots division.
In Italy, Cirsa continued to see significant growth in income thanks to the progressive implementation of VLT (video lottery terminals), reaching 2,100 units out of 2,583 authorised in the concession.
In Mexico, ongoing improvements to the quality of service in halls, as well as optimization of the product mix has seen the number of visits increase leading to a rise in earnings.
Despite the current economic downturn in Spain and the outlook for the short and medium term, Cirsa was able to hit its business targets for the second half of the year thanks to the commitment and dedication of the whole team, the efficient implementation of operational plans in Spain, the favourable economic evolution of Latin-American markets and the growth in activities in Italy.
In the words of Joaquim Agut, Cirsa's CEO, "the efficient execution of operational plans by the entire team at Cirsa has reaffirmed that the
For more information:
Pablo Llorens Sunyer
Corporate Director for Image and Communications
CIRSA Gaming Corporation
Tel: +34 93 739 6828 - +34 93 739 6700
pllorenss@cirsa.com
UNIDESA, the industrial company of the B2B Division of CIRSA, is the leader brand in the Spanish AWP market with more than 50% market share.
The new distribution agreement will not only secure BALLY WULF´s position in the Spanish market, it will also open both companies good future perspectives in the video and multigame segment, because of BALLY WULFFs extensive multigame experi-ence with a large games library and thousands of multigame ma-chines in its own German operation.
Due to UNIDESA´s leadership position in the Spanish market and BALLY WULF ´s machines, maximum customer satisfaction will be achieved as they will enjoy a broad range of innovative games warranting top operating revenues.
UNIDESA´s deep knowhow of the Spanish market and BALLY´s experience in the competitive, completely multigame driven German market, could bring out great products in the future.
Additionally, UNIDESA will offer the after sales service for all ex-isting BALLY WULFF´s machines, so that after the end of BALLY´s agreement with previous representative company, customers will enjoy again a professional service solving all their needs.
The BALLY WULFF Games & Entertainment GmbH is one of the leading German compa-nies in the electronic entertainment sector. It successfully combines development, production and distribution. Founded in 1950, the tradition-conscious company merged in 2007 with the Westfalian SCHMIDTGRUPPE. Today, BALLY WULLFF’s infrastructure consists of 12 customer service centres and sales offices nationwide and approx. 250 employees. The sale of electronic entertainment and casino-style payout machines is focused on the German market as well as the export business, notably Spain. The prod-uct portfolio includes pool, snooker and billiard tables, and table football. Money safes, furniture for gaming arcades and sophisticated management software complete the company’s portfolio. By creating the MAGIC CASHPOT, BALLY WULFF has created an-other successful instrument to connect to gamers and clients.
The BALLY WULFF Entertainment GmbH (www.ballywulff.de) with registered offices in Berlin is one of the leading companies that develops, produces and distributes enter-tainment technology in Germany. The company consists of 12 customer service centres and sales offices with approx. 240 employees. Half of the staff is employed in develop-ment, production and administration in the Berlin location at the Neuköllner May-bachufer.
Contact Person
Bally Wulff Games & Entertainment GmbH
Press- & Public Service
Nina Ahrens
Maybachufer 48 – 51
12045 Berlin
Tel.: 030-62002-231
Fax: 030-62002-222
E-Mail: n.ahrens@bally-wulff.de
Internet: www.ballywulff.de
Pablo Llorens Sunyer
Corporate Director for Image and Communications
CIRSA Gaming Corporation
Tel. +34 93 739 6828 - +34 93 739 6700
pllorenss@cirsa.com
CIRSA will use € 70 million of the proceeds of this issuance to cancel advance short-term financial debt and € 30 million to bring more liquidity to the company and make investments.
Deutsche Bank was the financial institution in charge of the operation.
Cirsa, a leading company in the gaming, leisure and entertainment sector, has successfully completed seven bond issues in the international markets since 2004. With this issue, Cirsa now has bonds in circulation amounting to a total value of € 780 million maturing in 2018.
This issue, which was handled by Deutsche Bank, has enjoyed the confidence of the financial community and has been largely over-subscribed by European and American investment funds.
The operation is part of Cirsa’s strategy and will solidify its financial structure.
As of 30 September 2012, Cirsa recorded an operating profit of € 240 million, up 11.7 % compared to the same period last year.
Pablo Llorens Sunyer
CIRSA Gaming Corporation
Tel: +34 93 739 68 28 - +34 93 739 67 00
pllorenss@cirsa.com
Cirsa Gaming Corporation, a leading gaming and entertainment multinational and the largest operator in the Spanish sector, recorded operating profits of 322 million euros in 2012 for an increase of 11% over the previous year. Operating income came in at 1,818 billion euros.
The favourable evolution of Latin American economies and the good performance of investments and the implementation of efficiency plans and cost reduction measures in the Spanish market have enabled the group to meet their operational programmes and commitments to capital markets.
The effective implementation of the company strategy have led the group to achieve, for the seventh consecutive year, results that are above market expectations, all in an environment characterised by worldwide crisis.
HIGHLIGHTS FOR 2012
- A new casino with 1,300 m² and 308 machines was opened in Tocumen (Panama).
- In Argentina, three halls in Mendoza and another in Rosario were expanded, with more than 400 machines in each province.
- The B2B Division has maintained a firm hold on its leading position in slot machines for the Spanish hostelry market with 55% of the market share.
- The launch of Wingo, Cirsa's electronic bingo, in the Community of Madrid represents a new concept in online gaming with more prizes and innovative media.
- Sportium, undisputed leader in live sports betting in Madrid and Aragon, begins its deployment in Valencia, with a total supply of 325 outlets in the three autonomous regions.
- CIRSA, using the cirsa.es web domain, became the first Spanish company to offer legal online gaming in our country, offering sports betting, casino games, poker and bingo.
- Roll-out of video lottery in Italy has reached 2,247 machines, 87% of the number of authorised machines.
The most notable aspects concerning the various business units are as follows:
Casino Division
Argentina, Colombia and Panama have contributed significantly to the favourable results posted by this division.
The efficient management of the business and the remodelling and selective expansion of the higher occupancy halls in Panama, Colombia, Argentina and the Dominican Republic should be noted.
The TITO system (payment collection through a ticketing system) at 19 casinos in the region has been implemented.
The productivity and efficiency measures introduced in casinos in Spain have served to mitigate the effects of the plight of demand due to the economic crisis and the smoking ban.
B2B DIVISION
With the focus on the market for machines for the hotel sector in Spain and the favourable reception of new products, Cirsa consolidates its leadership with a 55% market share, which has provided very satisfactory results with the implemented productivity improvements.
Slot Division
Falling demand in Spain was offset by strong containment, strict cost control and greater specialisation of the organisation, whose business area staff have attended a specific training programme.
Italy has led the deployment of the VLTs with 2,251 machines installed in arcades and bingo halls in 2012, which represents 87% of acquired rights. Cirsa has established itself as the best operator in terms of gross revenue.
Regarding AWP machines, despite the crisis that has hit the sector in Italy, Cirsa remains as the main operator in the country.
Bingo Division
The fiscal enhancements introduced in seven of the nine autonomous regions where Cirsa is present have significantly contributed to the improvement of the activity.
The launch of Wingo, Cirsa electronic bingo, in the Community of Madrid, with innovative media and more prizes and the new games introduced in Catalonia, have provided a significant increase in the results of the division and in market share, which establishes Cirsa as the Spanish market leader.
Regarding arcades, the consolidation and growth of a new gaming supply in Andalusia and the continued rise of sports betting in Madrid and Aragon have improved results in this area.
The measures adopted in Italy to refurbish halls and improve the quality of service in bingo halls, along with various promotional activities, have mitigated the indiscriminate rise in taxes introduced by the Italian government and the widespread crisis that has severely affected the bingo sector in this country.
In Mexico, operating profit was significantly increased, thanks to good management of revenue and costs.
Live betting
Sportium, the group’s main player in the sports betting market, is consolidating and expanding its leadership position. In Madrid and Aragon, it has achieved a market share of over 55% of total turnover and, in Valencia, where it began operating in June, it already has 75 outlets and 125 terminals in hotels.
Online betting
After online gambling licenses were authorised in June 2012, the digital division began operating under the brand Cirsa.es, becoming the first Spanish operator in sports betting, bingo, casino and poker. Acquisition and retention of customers, especially in sports betting and casino games continues at a fast pace.
According to Joaquim Agut, Director General of Cirsa, "once again the consistent implementation of our strategy, the capacity of our management and the involvement of all staff of the company to achieve the established targets, even in the current economic environment, has brought a significant improvement in results over the previous year."
Although the economic conditions in 2013 are difficult and complex, the Cirsa Group will continue with its strategy of consolidation and improving profitability of businesses in the geographic areas it currently operates in: Spain, Italy and Latin-America, implementing policies which will include efficiency and productivity programmes combined with selective investment, all executed with the utmost rigour.
Today it has 31 traditional casinos, 81 electronic casinos, 31,848 slot machines, 80 bingo halls, 154 arcades, 358 sports betting outlets, 2,008 lottery terminals and 2,583 video lottery terminals in Spain, Italy and Latin America, and … it is developing online gaming activity in Spain and Italy with the licenses it has been granted.
For more information:
Pablo Llorens Sunyer
Corporate Director for Image and Communications
CIRSA Gaming Corporation
Tel: +34 93 739 6828 - +34 93 739 6700
pllorenss@cirsa.com