Operating profit: CIRSA reports 173 million euros in the third quarter of 2024

These results underscore the Company’s strong growth trajectory, driven by its strategy of prioritising key markets and continuously improving the offer and quality of service. As a result, operating income increased by 7.8%, while operating profit has risen by 9.5% compared to the third quarter of 2023. In the first nine months of 2024, the company reported EBITDA of 508 million euros and operating income of 1,564 million euros.

The recent acquisition of Apuesta Total, a leading company in sports betting and online gaming in Peru, reaffirms the Group’s significant commitment to the online channel in regulated markets. With this acquisition and the organic growth in this division, the online channel’s significance within the Group has increased, boosting its revenue from 14% of the Group’s total in the third quarter of 2023 to 21% in this quarter.

These results reaffirm the Company’s forecast from last June made for the entire year, reflecting the effective execution of operational plans across the different business units despite a prevailing environment of global macroeconomic and geopolitical uncertainty.

Highlights of the second quarter of 2024

CASINOS

The Casino division’s results for the third quarter of 2024 reflect a continued positive trend, driven by ongoing improvement compared to the previous quarter. The roadmap set out in recent years remains focused on the selective renovation of facilities, having remodeled several establishments throughout this quarter and renewed the machine park to improve the service offering for our customers. Likewise, the division continues with the strict execution of commercial plans and expense control policies, to offset inflationary increases mainly in LATAM countries.

SLOTS MACHINES SPAIN

The division continues to yield excellent results, both in terms of income and EBITDA, supported by a management model that focuses on the player, offering models that optimize customer satisfaction and product performance and specifically the Unidesa models “Manhattan Boom” and “Pyramid Cash Bar”.

Expense control and the achievement of commercial objectives underpin the strong results in the quarter.

SLOTS MACHINES ITALY

After a first semester focused on consolidating our operations in a challenging market environment, the division in Italy has outperformed the market, supported by product enhancements, support for points of sale, and effective cost containment measures.

The organization in Italy remains focused on continued product improvement, space design, service and staff, as well as cost control, which will be decisive factors to achieve the objectives in the last quarter of 2024.

ONLINE GAMING AND BETTING

The results of the online gaming and sports betting division were favorable in the quarter compared to the previous year, with significant growth in both volume and margin. The completion of the acquisition of Apuesta Total in Peru, boosted the division’s results, reinforcing the strategy of expanding the business in regulated markets.