Spread Research - Cirsa - Decent 4Q16, FY17 guidance reiterated despite new tax in Argentina

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Spread Research

Joan Sehim

EUR 147.72 For Business Accounts Only

Cirsa - Decent 4Q16, FY17 guidance reiterated despite new tax in Argentina

Cirsa, the Spanish gaming company, reported decent 4Q16 results, in line with our expectations. Yoy sales were up 3% to â‚¬423m and EBITDA was stable at â‚¬100m, or a satisfactory 23.7% margin. In the same fashion as previous quarters, results were weighed down by sizeable currency headwinds mainly in Argentina....

04/04/2017 2 EN

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Spread Research

Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

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Analysts

Joan Sehim

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Joan Sehim

Joan Sehim

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Cirsa - Decent 4Q16, FY17 guidance reiterated despite new tax in Argentina

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

INTRALOT- Special Comment

IQVIA- 2Q18 Comments

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