Estoril-Sol, owned by the family of gambling tycoon Stanley Ho, has been recognized as the licensee for two casinos in Portugal – Casino de Lisboa in Lisbon and Casino de Estoril in Cascais. Another license applicant, online operator Bidluck, offered 20 million euros more for the license than Estoril-Sol, but was rejected by the regulator.
The reason for the refusal was that two directors of the company were prosecuted for illegal gambling in Portugal.
The licenses of the two casino operators expire at the end of this year. New contracts are concluded for 15 years. The total revenue of 11 casinos in Portugal in the 1st quarter of 2022 amounted to 53.3 million euros.
Solverde Gaming Group operates five casinos. In addition to Casino Espinho, it also includes Casino de Chaves, Casino de Vilamoura, Casino de Monte Gordo and Hotel Algarve Casino. Operator Oxy Capital operates the Casino de Troia, while the Madeira Island casino concession is owned by the Pestana Group.
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