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Company Profiles – Cirsa

Cirsa is all centered on play (machines). This firm was based in Barcelona in 1978 by Manuel Lao Hernández. Today, in accordance with the internet site, the corporate employs greater than 12000 individuals, owns 200 subsidiaries and is current in additive than 70 international locations.

The son of the founder — Manuel Lao Gorina corpse to be devoted to the corporate as vice-president.

The present enterprise is split in 4 divisions: Slots, Casinos, Bingos and the manufacturing of game-machines. The first one (slots)make up about 47% of the gross revenue and contribute 45% to the earnings (“ebitda”), the second largest division is devoted to bingo, which attributes 23% of the gross revenue and 12% to the earnings. Casinos notwithstandin present the very best growth-rate it’s also in essence the most worthy.

Another division of newer origin is devoted to interactive and on-line video games. The on line casino enterprise of Cirsa began with a coup d’etat of the emblematic on line casino in Marbella in 1985.

Besides being current in Spain which contains 69% of the enterprise, the corporate is current in Italy (12%), Argentina (6%) and different South American international locations. The first on line casino there was opened in 1990 inside the Dominical Republic.

According to the present president, Joaquin Agut who was chosen in 2006 (earlier CEO of Terra and Endemol), Argentina will open one of many largest casinos in 2009. On the web notwithstandin there are much of tales few casino-ship that’s being closed by regulation; the on line casino enterprise is each worthy and dangerous … not inside the final place as a result of it’s going through a damaging picture of cash laundering.

The firm has double in income over 5 years, from 600 million euros (in 1994) to 1200 million euros in 2001. The years 2001 and 2002 have been problematic and after a brand new sturdy 12 months the final thee years the revenues present a extra average development (1566, 1657 and 1700 million of euros for 2005 to 2007)

This firm visibility can be a visibility of steady change. It all began with the personal manufacturing of play machines, which is now the fourth enterprise division with the bottom growth-rate. The query will probably be whether or not the manufacturing of game-machines will proceed to be a part of the corporate. To date, 45% of game-machine gross revenue in Spain originate from Cirsa.

On the internet site (1) there’s a particular part devoted to buyers, notwithstandin it’s protected (solely institutional buyers are granted entry). On the web there may be details about a delayed IPO’s in 1999 and 2000, notwithstandin what occurred afterward girdle unclear… The shares will not be listed in Madrid, notwithstandin there appears to be bonds of the corporate listed on the London Stock Exchange (LSE).

The annual report too is just for institutional buyers. That this firm is just not in public listed is an actual pity. Imagine an organization devoted to video games and hypothesis, should not it at the very to the last degree supply the likelihood to invest inside the inventory of the corporate?

Hans Bool

(1) – http://www.cirsa.com

Company Profiles - Cirsa

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Patricia Bakely

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