CASINO MOROCCO Cirsa Gaming Corporation inks Casino De Tanger operating agreement 1 year ago Szarlot Post Views: 450 Spanish casino and slots operator Cirsa Gaming Corporation is reportedly set to expand its presence in the North African nation of Morocco via the takeover of the Casino De Tanger property. According to a Thursday report from a source, the Barcelona-headquartered firm has agreed a deal with the government for the region of Tanger-Tetouan-Al Hoceima that is to see it assume responsibility for operating the 21,527 sq ft Tangier facility and its portfolio of 124 slots and 20 gaming tables. Federal law purportedly allows for the licensing of up to seven hotel-based casinos while Cirse Gaming Corporation is already responsible for the Casino Atlantic and Casino Le Mirage venues in the smaller southern community of Agadir. Pronounced path: Cirsa Gaming Corporation reportedly re-opened its existing pair of Morocco casinos in May following a 26-month coronavirus-induced closure and is now due to become the largest such operator in the nation of almost 37 million people. The company owned by American private equity management firm The Blackstone Group Incorporated purportedly also disclosed that the Tangier deal is all part of a policy to expand its global operations and add to a complement that already encompasses over 180 bingo, slot and gambling halls spread from Puerta Vallarta to Padua. Friendly financials: The Morocco move from Cirsa Gaming Corporation reportedly moreover comes after the firm recorded a first-half profit of approximately €14 million ($14.16 million) thanks to a rise of over 89% year-on-year in its aggregated operating revenues to about €923.81 million ($935.34 million). The end result for the six months to the end of June purportedly reversed the deficit of around €105 million ($106.32 million) seen for the same period in 2021 and came via a profit before tax of roughly $34.31 million ($34.76 million). Strong scrutiny: The Blackstone Group Incorporated reportedly launched a strategic review into Cirsa Gaming Corporation’s domestic operations in 2020 and is still thought to be intently monitoring the post-coronavirus performance of its six casinos, 38 bingo halls and 248 slot parlors in Spain. The operator’s most recent half-year financial results purportedly showed that 53.9% of its aggregated earnings before interest, tax, depreciation and amortization originated from its home nation although this equated to a decline of 8.1% when compared with the 62% figure seen for the entirety of 2021. “Geographic and product diversification, together with our omni-channel strategy and the focus on a local customer base have resulted in the best-ever second-quarter results even amid a tough macroeconomic environment to confirm the resilience of our business model. Acquisitions of mid-size targets at reasonable multiples will be a key element not only to increase enterprise value in the short term but also to reduce the leverage ratio.” Source: worldcasinodirectory.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: Casino De Tanger, Cirsa Gaming Corporation, Morocco Continue Reading Previous South Africa’s Sun International rebounds to post record gaming incomeNext Metropolitan Gaming sells interest in South Africa’s Emerald Resort and Casino More Stories CASINO ONLINE Playing Slots Online: A Comprehensive Guide 1 day ago Tools CASINO UGANDA The Slot Gaming Trends in Uganda 2 days ago Szarlot CASINO ONLINE Discovering JetX: The Game Changer in Casino Gaming 2 weeks ago Samuel CASINO WORLD NEWS Caesars confirms cyberattack in Las Vegas for slots 3 weeks ago Samuel CASINO SOUTH AFRICA Carnival City goes Super Sweet with 24th birthday car mania promotion 3 weeks ago Szarlot CASINO EXPERTS Seven fun and interesting facts about slot machines 3 weeks ago Iwo Bulski CASINO HISTORY 5 Biggest Slot Machine Wins of All Time 3 weeks ago Iwo Bulski CASINO UGANDA Casino gaming trends in Uganda 3 weeks ago Szarlot CASINO SOUTH AFRICA Sun International’s SunBet shoots the lights out 3 weeks ago Samuel CASINO HISTORY Five fascinating trivia about online casinos 3 weeks ago Samuel CASINO SOUTH AFRICA Economic effects of international online casinos joining the local market in South Africa 4 weeks ago Samuel CASINO SOUTH AFRICA Western Cape Gambling Board wins appeal on tax payable by casinos 4 weeks ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.