Cost savings help Spanish gambling group to achieve a 5 percent rise in profit

The Spanish online and land gambling group Cirsa has posted a profit of Euro 398 million for FY-2016, up 5 percent year-on-year, despite flat revenue of Euro 1.6 billion, thanks to effective cost cutting, growth in Latin America and at home, and a vibrant online performance.

CEO Joaquim Agut reported steady progress by the group, and noted:

“The correct implementation of the group’s operating plans in the various locations and businesses and the overall improvement of all activities in Spain have helped to achieve these results, which have exceeded market expectations.”

Among the operational highlights, Agut said that the group had opened new casinos in the Dominican Republic and Colombia, and the joint venture betting business across 15 of Spain’s autonomous regions operates under the Sportium Ladbrokes brand had performed well, with increased emphasis on online services that included games and slots.

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