Portugal’s gaming regulator, Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), has issued the nation’s first online casino license following recent moves to build and regulate an online gaming market.
The SRIJ announced on 25 July that it had issued an online games of chance license to Estoril Sol SGPS SA, a company chaired by none other than Macau casino magnate and SJM founder Dr Stanley Ho.
Estoril Sol also operates three land-based casinos in Portugal – Casino Estoril, Casino Lisbon and Casino da Povoa. Under the terms of its new online casino license, the company is allowed to offer blackjack, roulette and slots.
Estoril Sol is just the third online operator in Portugal to be granted a license after sportsbooks Betclic Everest and Bet Entertainment Technologies Ltd launched in the preceding two months.
Estoril Sol’s members are closely linked with Macau’s SJM Holdings. Aside from naming Dr Ho as Chairman, the company also boasts SJM Executive Director Dr Rui Cunha as Chairman of the advisory board and SJM CEO Ambrose So as a board member.
It is expected the new site will prove to be the most profitable of the three online sites launched in Portugal so far given that casino sites are to be taxed at 15% of gross gaming revenue compared to a far more restrictive 8% tax on total betting turnover on sportsbooks.
