Report
Maxime Kogge

Cirsa : Successfully crash tested, set for further improvement in 2022

When the pandemic broke out, Cirsa was perceived as one of the most vulnerable gaming operators, alongside arch-rival Codere, as it derived practically all its revenues from land-based operations in some of the worst hit countries and was burdened by a lofty debt load. However, Circa's solid liquidity allowed it to ride out the crisis while massive cost cuts helped to generate high margins as activity restarted in spring. Currently, we do not perceive any sign of tightening restr...
Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Maxime Kogge

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