Two land-based casinos inwards Portugal are now upwardly for grabs for the right on price. The country’s gaming regulator is accepting bids for II gaming concessions, which testament expire at the destruction of this year.
Two years ago, Portugal’s Gaming Regulation and Inspection Services (SRIJ, for its Lusitanian acronym) extended the concessions for the casinos of Figueira da Foz and Estoril because of COVID-19. However, it is clip for them to terminal their contracts and move to an international competition.
As of December 31, the concessions of these casinos will end. As a result, the SRIJ has launched an international public legal tender for the casinos. The young licensees will find 15-year concessions, with the possible action of restorative them for another V years.
Changing of the Guard
The applications programme window for young licensees testament remain unresolved until the midsection of September. Those companies who imprint the SRIJ the to the highest degree will invite the exclusive right hand to ply games of chance in their respective areas.
Both house servant and strange businesses canful apply. The primary stipulation, for a foreign operator, is that it hold business concern residence inward a country inward the European Federal or the European Economic Area. However, that state must also live political party to internationally-recognized anti-money laundering (AML) standards.
Applicants don’t needfully hold to already be constituent of the gaming industry. For example, the owner of Casino Figueira is Amorim, a Lusitanian accompany that specializes inwards cork products. It bought the gambling casino concession from its previous holder, Sociedade Figueira Praia, a local gaming company.
On the other hand, Casino Estoril is constituent of a well-known entity inwards the casino industry. Sociedade de Turismo e Diversões de Macau operates the cassino and is the parent company of SJM Holdings, a Macau casino concessionaire.
Other casinos will go uncommitted over the course of action of the next decade. For example, the grant for the casino inwards Póvoa ends inwards 2025. At the same time, the concessions for casinos in Espinho and iii inward Algarve expire.
In addition, 2 more will eventually go available. Casinos inwards Troia and Chaves have their concessions inward set until December 2032.
Gaming Segments See Growth
Portugal has a long account of land-based gambling. However, inwards 2015, after finalizing regulations, the online sector moved in. As a result, the manufacture has begun to acquire exponentially on both fronts.
The SRIJ reported record book revenue of more than €69 one thousand thousand (US$68.66 million) in the finally tercet months of 2020. In its to the highest degree recent report, the regulator stated that licensed operators were responsible for(p) for receipts gaming revenue of €146.4 one thousand thousand (US$145.69 million) inwards the 2nd canton of this year.
That was a 17% year-on-year increase. However, it was also an 8% quarter-over-quarter decrease. The latter figure shouldn’t worry cassino operators, though. It came in the first place at the expense of sports betting, which typically drops everywhere inward the sec billet of the year.
Still, both land-based and online casinos continue to do well. As the indorsement half of the yr continues to advance, both segments should control important gains.
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