CIRSA earned 164 million euros in operating profit in 1Q 2024

These results confirm the solid growth trend of the company’s business thanks to its strategy of focusing on key markets and continuously improving the offer and quality of service. They represent an improvement in operating income of 6.3% and operating profit of 8.6% compared to the first quarter of 2023.

Additionally, the company has recently published its new ESG 2023 report, which includes CIRSA’s commitment to growing its business in a responsible and sustainable manner, as well as the strategic lines of action in terms of environmental sustainability, social responsibility and governance for the future. The report uses both the Global Reporting standards Initiative (GRI), as well as the ESRS (European Sustainability Reporting Standards) regarding materiality analysis. The
Report and other ESG-related materials can be found on the Company’s website at https://www.cirsa.com/sostenibilidad/

Highlights of the first quarter of 2024

CASINOS
The results of the Casinos division during the first quarter of 2024 continue the good trend thanks to the improvement in results in all the countries present compared to the previous year. The roadmap outlined in recent years involves the renewal of the machines footprint, the casino facilities, where we have begun to remodel more than 10 sites during this quarter, as well as the strict execution of the commercial plans and cost control policies. In line with our multi-channel
strategy, we also promote Sportium’s online offer in our casinos in regulated markets. During this quarter, 7 new casinos in Colombia have joined the group, adapting them to the group’s quality and service standards to improve customers’ entertainment experience.

SLOTS MACHINES SPAIN
In the first quarter of 2024, the good results of the division stem from the continuity of the commercial plans focused on attracting the most suitable points of sale for recreational games and the offer of the most suitable product for each customer. The successful evolution of the Manhattan platform and the success in incorporating new games have contributed significantly to the success of this strategy.

The activity in the industrial area continues at a very good pace thanks to the great success of the launches of new models such as Manhattan Boom and Hit the link Bar for the Bars and Restaurants channel, and Pyramid Cash in the Gambling Halls channel. Inflation in raw materials and components costs has stabilized, and supply chain delivery times have normalized. In the Interactive area, specialized in gambling halls management systems, the growth of Forward
Systems installations throughout Spain continued at a solid rate.

SLOTS MACHINES ITALY
In Italy during the first quarter we have observed a significant improvement in Revenue and Ebitda largely thanks to the incorporation of the Modena Giochi operator in the second quarter of 2023 and the positive results of the product turnover plan. The redesign of the premises and the reorganization of the machines footprint has borne positive results and continuity in the results, strengthening the betting areas and consolidating volumes. 

ONLINE GAMING AND BETTING
The online gaming and sports betting division significantly increased its betting volumes compared to the same period last year, although it suffered from lower margins as a common trend in the sports betting sector across Europe. The division continues to grow and strengthen its multichannel strategy, now in 8 countries (with the recent addition of Puerto Rico). In
February, the activation of the exclusive sponsorship of the Kings League America kicked off, a sports property with a multi-jurisdictional impact, which joins the regional sponsorship of Manchester City with which the brand has been linked since 2022.