Spain: CIRSA full unit recovery delivers peak profits of €550m

Thursday, February 23, 2023 8:15 PM
  • Ted Menmuir, SBC News

Grupo CIRSA has lauded its 2022 financial recovery as all core business units “return and outperform pre-COVID 2019 trading”.

Full-year 2022 results saw the Blackstone-owned Spanish gambling group declare an operating profit of €552m, up 66% on the corresponding FY2021 result of €331m.

Headline growth was attributed to CIRSA units achieving a combined peak operating income of €1.74bn, ahead by 48% on FY2021 comparatives of €1.17bn as “results evolved very favourably quarter after quarter, both in revenue growth and in operating profit”.

A strong end-of-year close was cited by CIRSA’s Spanish sportsbook Sportium and machine games distributor Unidesa, as venue properties saw customer activity return to pre-pandemic levels.