For the first time in almost three years, Portugal’s iGaming market has recorded a decline of 12%, totalling the revenue to €284.7 million. When compared to the end of...
Portugal opens public tenders for 15-year casino licenses
On July 24, Portugal opened public tenders for 15-year exclusive exploitation rights of casinos in the Algarve, Espinho, and Póvoa de Varzim.
Supervised by the Instituto do Turismo de Portugal, the process will include not only the casinos in Espinho and Póvoa de Varzim, but also the establishments in Vilamoura, Monte Gordo, and Portimão. Proposals can be submitted until September 5.
The decision will be based on “the most economically advantageous proposal, under a multifactor model,” which includes fixed annual compensation, minimum annual compensation, and a share of gross revenue from the games.
The law firm CCA reported the requirements for the application. Those interested should have proven technical and financial capacity, have no tax or social security debts, present an investment proposal, and submit an operational plan that includes responsible gambling practices.
The licenses for Espinho, Algarve, and Póvoa de Varzim were all extended until December 31, 2025. The Estoril and Figueira da Foz casinos had already received an additional year of extension, as their original licences expired in 2020.
According to an article published by ECO:
“The Espinho concession ends in December, after having received a post-pandemic extension granted by the Executive to compensate companies for lockdown closures. The State gave away the two COVID-19 years (2020 and 2021) to the gaming operators.”
While the government works on land-based gaming operations, Portugal’s online gambling sector continues to grow, generating €284.7 million in gross revenue between January and March.
Portugal revealed its iGaming revenues for 2024, reporting an impressive reach of more than €1 billion, a 42% increase from the previous year.With 30 active online...
