Cirsa is close to launching its third casino in Tangier

Cirsa is close to launching its third casino in Tangier, Morocco. Earlier this year, its Sportium brand gained access to the Italian gaming market when it acquired a controlling stake. The latter is a full-service online gaming platform, offering a casino, poker, sports betting, and more.

This expansion, coupled with strong results at the end of 2022, will provide a solid foundation for further growth. The company recently added €425 million (US$441.4 million) through senior notes, some of which will also facilitate expansion.

With it, the company is also partially refinancing €563 million (US$584.73 million) from July 2018. These bonds will pay interest of 10.375% and mature in 2027.

Spain-based gaming giant Cirsa is on track to close out 2022 on a high note. In the third quarter, its net profit was €23.7 million (US$24.57 million), a substantial improvement over its €34.4 million (US$35.66 million) loss a year ago.

All of Cirsa’s business segments have already recovered to pre-COVID-19 levels in terms of EBITDA generation. In addition, the online gaming sector, where its sports betting subsidiary Sportium stands out, accounts for 14.3% of turnover. In the second quarter, the sportsbook was only good for 8.8% of the company’s turnover.

Based by

About Post Author

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.