CIRSA reports a 9.5% increase in operating profit to 173 million euros in Q3 2024, bolstered by the acquisition of Apuesta Total and a strategic focus on online gaming growth.
Target Company Overview
CIRSA is a prominent multinational company specializing in gaming and entertainment, recognized as the leading firm within this sector in Spain. In the third quarter of 2024, the company reported an impressive operating profit of 173 million euros, marking a 9.5% increase from the same period in the previous year. With operating revenues reaching 531 million euros, these figures reflect CIRSA's strong market presence and commitment to enhancing service quality while maintaining growth in key markets.
The company's performance is further supported by its strategic focus on operational excellence and an expanding online gaming segment, particularly following the acquisition of Apuesta Total, a key player in the Peruvian sports betting and online gaming market. This move aligns with CIRSA's goal to bolster its footprint in regulated markets and diversify its revenue streams.
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Industry Overview in Spain
The gaming and entertainment industry in Spain has witnessed substantial growth in recent years, driven by regulatory reforms that have opened avenues for online and mobile gamin
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Disclosed details
EBITDA: $173M