Cirsa
CIRSA is a Spanish gaming and entertainment company founded in 1978 and one of the world leaders in the industry. Since April 2018, it has been owned by Blackstone. In 2024, it has more than 16,000 employees and operates 448 casinos in 10 countries, online gaming licenses, and over 50,000 slot machines.
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| Industry | Gambling |
|---|---|
| Founded | 1978 |
| Founder | Manuel Lao Hernández |
| Headquarters | , |
Area served | Spain, Italy, and Latin America |
| Products | slot machines and gaming kits |
Number of employees | 14,685[1] |
| Parent | Blackstone Group[2] |
| Website | https://www.cirsa.com/index.php?language=en |
History
[edit]The company started in Terrassa (Barcelona) in 1978, founded by Manuel Lao Hernández, with a small laboratory under the name Compañía Internacional de Recreativos S.A., later changing its name to the current CIRSA in 1983.
In 1982, the company UNIDESA was established.
In 1985, CIRSA opened its first casino in Spain, the Casino de Marbella.
On April 27, 2018, Manuel Lao, who was president at the time, announced the sale of CIRSA to the Blackstone group, excluding the Argentine part of the business [3]
In 2022, CIRSA shifted its Group strategy, focusing its operations on ESG policies and criteria, reaffirming its commitment to sustainable growth and obtaining G4 certification in Spain and Latin America.
International expansion
[edit]CIRSA operates exclusively in regulated markets through local companies. This policy is reflected in the payment of taxes on gaming and corporate activity, which amounted to 662 million euros, demonstrating its commitment to sustainable and responsible development in all the countries where it operates.
Currently, CIRSA operates casinos, gaming halls, slot machines, and sports betting and online casino licenses in a total of 10 countries: Spain, Italy, Morocco, Mexico, the Dominican Republic, Costa Rica, Puerto Rico, Panama, Colombia, and Peru.
Business areas
[edit]CIRSA offers a wide range of gaming and entertainment experiences for its customers in various markets and segments:
Casinos and gaming halls
[edit]Within its casino business, it covers its Retail offering of self-managed halls, which includes a wide variety of slot machines, electronic roulette, and other electronic games, along with traditional gaming tables and bingo in some cases. This offering is complemented by a wide range of services, such as gastronomy and shows.
Sportium and sports betting
[edit]Its online gaming offering includes sports betting, casino games, and social games. These services are mainly provided under the Sportium and EPlay24 brands. Additionally, it manages sports betting in gaming halls and bars, offering an omnichannel entertainment experience to all its customers.
Slot machines
[edit]In Spain, the exploitation of slot machines (AWP) is carried out in bars, cafes, and restaurants. Furthermore, the B2B division is responsible for the design, manufacture, and marketing of these machines for the Spanish market, along with the development and marketing of casino management software. Both the Group and other companies have access to the full range of products and services offered. In Italy, the exploitation of slot machines (AWP and VLT) extends to bars, cafes, restaurants, halls, and bingo halls.
Commitment and ESG objectives
[edit]According to the 2023 sustainability report, the company focuses on four key areas: Responsible Gaming, environment, social environment, and corporate governance. To ensure the execution of this strategy, CIRSA has an ESG Committee overseen by the Executive Chairman and composed of experienced corporate directors. Priorities include promoting Responsible Gaming policies, complying with regulations in regulated markets, fostering safe and diverse work environments, and reducing environmental impact through the use of renewable energy and technological improvements.
Evaluated by Sustainalytics, CIRSA currently has a rating of 12.0, classifying it as a company with low ESG risk. This evaluation positions CIRSA in the top 3 of the casino industry.
Responsible gaming
[edit]In 2023, CIRSA obtained dual Responsible Gaming certifications for its casinos in Spain, awarded by the European Casino Association (ECA) and the Global Gambling Guidance Group (G4). This certification strengthens CIRSA's commitment to promoting safe and responsible gaming practices. The company continues to implement policies and training measures to ensure that gaming is conducted ethically and safely, protecting players and minimizing risks associated with compulsive gambling.
Sustainability programs
[edit]CIRSA has strengthened its commitment to sustainability by joining the United Nations Climate Ambition Accelerator program.
CIRSA has integrated climate risks into its management system, following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
The company conducts analyses focused on the risks derived from climate change to quantify its impacts and improve its environmental practices. Additionally, CIRSA is committed to reducing its carbon footprint through the use of renewable energy and implementing sustainable technologies, reaffirming its commitment to mitigating climate change and promoting sustainability across all its operations.
Community and philanthropic initiatives
[edit]CIRSA has signed a collaboration agreement with the Autonomous University of Barcelona (UAB) to conduct applied research on gambling, sports betting, gaming use, addictions, and related psychosocial processes. The company is also actively involved in volunteering programs and initiatives that promote gender equality, such as adhering to the United Nations Women's Empowerment Principles and participating in the Target Gender Equality initiative. These actions demonstrate CIRSA's commitment to the well-being of communities and the promotion of inclusive and equitable practices.
Financial performance
[edit]CIRSA's financial performance has been solid in recent years. In 2023, the company reported operating revenues of 1.991 billion euros, 662 million euros in taxes, and an operating profit of 630 million euros.
The group's corporate debt is listed on the London capital markets. More financial information about the group can be found on its investor website.
References
[edit]- ^ "Cirsa Gaming Corporation S.A.: Private Company Information - Bloomberg". www.bloomberg.com. Bloomberg L.P. Retrieved 14 June 2018.
- ^ "Blackstone acquires Spain's Cirsa". iGaming Business. iGaming Business Limited. 30 April 2018. Retrieved 14 June 2018.
- ^ "Blackstone acquires Spain's Cirsa". iGaming Business. iGaming Business Limited. 30 April 2018. Retrieved 14 June 2018.
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