Spanish Gambling Group CIRSA Reports Record Operating Profit

Spanish online casino and multinational internet gaming operator giant CIRSA reported a huge increase in operating profit.

The record-breaking increase of 11.7 percent amounted to EUR 240 million in the third fiscal quarter ending on September 30, 2012 compared to the similar period last year.

The Key Performance Indicators submitted to the Spanish gambling law authorities are:

Operating revenues amounted to of EUR 445,886,000 for the three-month period ending on September 30. The revenues were EUR 429,405,000 in the similar period last year.

Net operating revenues increased by 10 percent to EUR 334,217,000 from EUR 303,743,000 in the similar period last year.

Profit before tax in the third quarter is down to EUR 23,880,000 from 24,982,000. Net profit is down to EUR 9,273,000 from EUR 13,443,000 during the similar period last year.

The Year to Date numbers included operating revenues in the first nine months of 2012 up to EUR 1,343,474,000 from EUR 1,286,744,000, and net operating revenues up to EUR 999,363,000 from EUR 925,443,000 during the similar period last year.

Profit before tax rose to EUR 69,389,000 from EUR 40,754,000; net profit rose to EUR 27,059,000 from 2011: EUR 4,310,000.

Total net debt of the company as of September 30, 2012 was EUR 870.7 million, compared to EUR 835.8 million over the similar period last year.

CIRSA informed the Spanish gambling news: “These results reflect the very positive development of the group and the ongoing prioritization, efficiency, productivity and containment measures in place, which have allowed us to meet and achieve operational plans for the twenty-seventh consecutive quarter.”

According to CIRSA, its Spanish online casino and sports betting operations are showing positive trends in customer acquisition.