Cirsa is close to launching its third casino in Tangier

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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 casino.org