The La Mamounia (Marrakech) casino passes into the hands of a Spanish group

The Spanish company, led by Joaquim Agut, announced the operation to the hotel staff this weekend, reports El Economista. This acquisition is part of an ambitious inorganic growth plan for Cirsa, which had promised to invest between 400 and 500 million euros in acquisitions. The group specified that the operation would not have a significant impact on its debt and that the casino staff would retain their positions. This acquisition comes two months after similar agreements in Peru.

Cirsa strengthens its presence in Morocco

This acquisition is not Cirsa’s first in Morocco. With La Mamounia, the company based in Terrassa (Barcelona) will now manage four casinos in the Kingdom. It entered the Moroccan market in 2016 by acquiring an establishment in Agadir, where it has since built a second complex, before taking over the management of the only casino in Tangier in 2022.

Although Morocco still represents only a modest share of the group’s revenues (3% of total EBITDA), the market is growing, driven by slot machines. Cirsa’s profitability still depends heavily on Spain (47%), but this new operation confirms the group’s interest in physical establishments in North Africa, in parallel with its investments in online gaming.