CIRSA of Barcelona Reports Record Growth in Q2 2012

CIRSA, the Barcelona-based gaming and betting company reported growth to the Spanish gambling news this week. All of the company’s main Key Performance Indicators (KPI) rose in the first half of 2012.

Even though Spain has been facing a recession and high unemployment rate, the last quarter was the twenty-sixth consecutive quarter of growth for the Spanish gambling operator.

CIRSA’S operating profit grew 12 percent to EUR 157.9 million in the first half of 2011, compared to the similar period last year. The company’s operating was up 4.7 percent to 897.6 million. CIRSA’s H2 earnings reached EUR 449.9 million, a 7.3 percent rise year-on-year.

The Barcelona company recorded its highest ever recorded operating profit in a fiscal quarter – EUR 80.6 million. This was a 12.7 rise over the same period (Q2) in 2011.

Sportium, the CIRSA’s site for live internet betting in Spain, managed to stay the number 1 player in the central provinces of Madrid and Aragon. Sportium conquered one of Spain’s biggest and most important markets, its share in the total market revenue exceeded 55 percent.

Despite the current economic slowdown in the country, CIRSA’s newly launched online casino, recently granted license by the Spanish gambling laws, managed to hit its business target.

CIRSA’s chief executive officer, Joaquim Agut commented on the successful quarter: “The efficient execution of operational plans by the entire team at CIRSA has reaffirmed that the strategy of geographic and business diversification is still providing the results we expected, even in an environment as complex as the one we have now.”