Cirsa Enterprises has firmly strengthened its presence in the Latin American gaming market by finalizing the acquisition of four casinos in Peru. This strategic acquisition was executed through its Peruvian subsidiary, Gaming and Services, and includes Casino New York, Casino Luxor, and Casino Pachanga, all located in Lima, as well as Casino Mystic situated in the tourist hub of Cusco. The move is part of Cirsa’s ongoing strategy to expand in regulated markets across Latin America, a region where the company has been active since the mid-1990s.
This acquisition is aligned with Cirsa’s strategic emphasis on selective growth within key, fully regulated markets. The company’s recent statement highlights how this transaction reinforces Cirsa’s leadership in Peru, a market where the company has operated since 1996. Last year’s acquisition of Apuesta Total, Peru’s leading sports betting and online gaming company, marked a significant leap in Cirsa’s commitment to the country.
In discussing the transaction’s financial underpinnings, Cirsa disclosed that the deal was consistent with the valuation multiples applied in previous acquisitions, and it was financed using available cash reserves. This prudent approach ensures that Cirsa’s leverage levels remain unaffected. Though the purchase price was not officially released, market insiders reported that the deal was valued at approximately US$18 million, with potential adjustments based on the agreement’s terms.
As Dreams, the Chilean casino operator, exits these properties, it retains two locations in Peru: Pachanga Independencia and Fiesta. This move indicates a strategic shift, allowing Dreams to focus on a more concentrated regional presence.
Peru remains a strategic market for Cirsa, contributing 9.8% of the group’s EBITDA in the first half of the year, highlighting its importance as the third-largest market for the company, trailing only Spain and Panama. The stable regulatory environment in Peru combined with growing demand in casinos, sports betting, and online gaming, underpins Cirsa’s decision to deepen its engagement in the region.
The acquisition of properties in Lima enhances Cirsa’s competitive edge in the capital’s bustling market, where customer volumes are high despite intense competition. Furthermore, Casino Mystic in Cusco leverages the city’s international tourism appeal, attracting a steady stream of domestic and foreign visitors, thus providing strategic value.
Cirsa’s expansion in Peru follows the company’s recent acquisition of Apuesta Total, a significant player in sports betting and online gaming. This move towards an omnichannel operation allows Cirsa to blend its expertise in land-based casinos with digital platforms, maximizing engagement across channels with regulatory support. The strategy mirrors Cirsa’s international approach, focusing on regulated markets offering promising long-term growth prospects.
This latest acquisition underscores Cirsa’s enduring commitment to Peru, showcasing confidence in the country’s gaming market fundamentals. The expanded physical footprint aligns with Cirsa’s broader strategy of establishing leading positions in fully regulated markets, leveraging growth opportunities while maintaining financial stability.
As competition intensifies across Latin America, Cirsa’s disciplined acquisition strategy and focus on operational efficiency position the company well for sustained growth. This strategic foresight ensures that Cirsa remains a formidable force in the gaming sector, both in Peru and across the region.
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