The Portuguese government has launched a public tender to award licenses for the operation of five casinos in three areas – Algarve, Espinho and Póvoa de Varzim – for the next 15 years.
The Póvoa de Varzim casino concession is currently held by Estoril Sol SGPS SA, which counts Macau’s Ho family as its main shareholder and Pansy Ho as its Chairperson.
According to information published in the Official Journal of the European Union, the new licenses will be awarded for a period of 15 years with the deadline for submission of applications set for 5 September 2025.
The licenses will include the right to use the existing casino premises and equipment of the casinos in Espinho and Póvoa de Varzim throughout their term, and in two of the three gaming areas in Algarve – namely Vilamoura and Monte Gordo. The sole exception is Barlavento, where the casino premises will need to be supplied by the winner of the Algarve license.
The government explained that each license will be awarded to the highest bid based on a weighted multi-factor model, of which 35% will be weighted to the amount proposed as an annual fixed fee, 50% to the percentage of GGR proposed as a variable fee and 15% to the amount proposed as a minimum variable fee.
In comments to Inside Asian Gaming, Rui Pinto Proença – Partner at specialized gaming law firm MdME, which has offices in Macau and Lisbon – said, “This public tender may be the last opportunity to secure a new casino license in Portugal for the foreseeable future. For international operators looking ahead, the Algarve stands out – with its established tourism reputation and premium visibility – offering a strategic gateway into one of Europe’s most appealing destinations.”
Eligibility, the government explained, is limited to qualified operators with a strong track record in land-based gaming.
As previously reported by IAG, the Ho family was through Estoril Sol awarded in 2022 a new 15-year concession to operate two of Portugal’s biggest casinos – Casino de Lisboa in Lisbon and Casino do Estoril in Cascais – after the only rival bid was rejected.
Estoril Sol’s 57.8% controlling stake is held by Finansol, a subsidiary of Sociedade de Turismo e Diversões de Macau, SA (STDM) that was listed on the Euronext exchange in February 1986. STDM is also controlling shareholder in Macau concession holder SJM Resorts – operator of Grand Lisboa and Grand Lisboa Palace, among others.
Portugal is currently home to 12 casinos and one gaming machine room.
RelatedPosts
