Joaquim Agut, President and CEO of Cirsa, commented: “Cirsa’s acquisition by Blackstone has made 2018 a key year for the company. The immediate future will see the further implementation of our Strategic Plan, following the lines of action of the past 13 years, with a firm commitment to sustained, cost-effective growth, and focusing on each of the businesses and locations where we operate. This has enabled us to grow uninterruptedly for the past 50 quarters.”
Agut added that in order to maintain its leadership and keep moving forward as a trustworthy, reliable company, Cirsa will need to “anticipate the future, focusing on teamwork and its ability to perform; take initiatives related to efficiency and profitability; and rely on our in-depth knowledge of both our business and our clients.”
“This is how we can continue to make a financial, social and environmental contribution in the nine countries where we have a presence,” he explained.
One of the major highlights of 2018 was the company’s capacity for overall, organic growth in all the subsectors where it operates. This notably included the acquisitions of Casino Jaragua in the Dominican Republic, Winland Casino in Mexico, and Bingo Salou in Tarragona. The excellent performance of the B2B division should also be stressed.
All these achievements have taken place in the midst of a generally acceptable economic environment, despite the significant impact of the devaluation of the currencies from the Latin American countries where the company operates versus the euro.
The company’s revenues increased in the local currencies in the eight countries where it operates casinos. Despite the adverse impact of the exchange rate, it had an improved revenue trajectory in euros versus 2017.
The main acquisitions were Le Mirage Casino in Agadir, Morocco, Casino Jaragua, in the Dominican Republic and two new halls, El Fuerte and Dorado Mall in Panama, as well as seven major casino enlargement and refurbishment projects, mainly in Latin America.
Source: GMB
