Cirsa acquires Mexican betting firm Ganabet

According to the annual report of the company chaired by Joaquim Agut, the operation was closed in the second half of 2022 for a price that exceeded 20 million euros. In addition to a sports betting portal, the company based in the city of Guadalajara also has an online casino service, with games such as roulette, bingo or slots.

In this way, the Ganabet brand will be incorporated into the sports betting portfolio, in which Cirsa already has Sportium and the Italian EPlay24, which also joined in 2022.

Cirsa also grows in Italy with the purchases of Go Goal and EPlay24

The company also takes the opportunity to grow in Mexico, its fifth most important market, which over the past year went from representing 5.2% of sales to reaching 7.2% of turnover. In the country, its activity is focused on bingo, where it has 28 halls. According to the latest communications, it already operates at the level it was before the pandemic, although it has lost weight in the global balance of society, since before probably 10% of income.

But Cirsa also chose to grow in the Mediterranean. The firm acquired the start-up Go Goal in December, dedicated to the sports betting sector. The organization is mainly dedicated to the provision of technological services for homes and has another division of free soccer games in which there is no money involved. In the same states, the cost of the operation is 2.7 million.

Both purchases are added to the already announced EPlay24, also in Italy. The transaction was made in July for 53 million euros, according to the accounts. On the same dates, it announced that the casino in Tangier (Morocco) would begin to operate.

Cirsa grows based on purchases

Cirsa continues with its acquisition strategy in markets in which it already operates. It does so while the organic business is already showing signs of having forgotten the pandemic: in 2022 it earned 56.57 million compared to losses of 150.8 million in 2021 and revenue reached 2,038 million compared to 1,337 million the previous year.

The company is thus getting bigger and bigger. And it escapes no one that Blackstone has been in the capital for five years now. Although it never constituted it officially, going public was always an option; It seemed to be close last year, but the stock market tensions that indicated that the war in Ukraine disappeared, for now, the operation in the drawer.