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Casino Operators in Portugal Report Revenue Rise in 2018

- January 15, 2019 By Riley Wilson -

Casinos operating in this country recorded more than €318 million in revenue last year.

Casinos operating in this country recorded more than €318 million in revenue last year.

Portugal’s gambling regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) has recently published a report revealing that casinos operating in this country recorded more than €318 million in revenue during the last year.

This figure represents an increase of 3.1% when compared to 2017.

An Excellent Year

The country’s market is still being dominated by Estoril-Sol, a casino operator working as the Portuguese branch of the Stanley Ho’s Group. The operator with the concessions in Estoril, Lisbon and Póvoa de Varzim reported a turnover of approximately €196.8 million in 2018, with a residual rise of 2.4% from 2017.

The best performing operator was the Solverde Group, with its facilities in Espinho, Chaves, and Algarve, which ended 2018 with a rise of 4.8% in global revenues to €93.6 million.

Almost all licensees recorded increases in their income. The only exception was the Pestana Group, which operates The Pestana Casino Park in Funchal Madeira., whose revenues dropped by 3.1% to €8.4 million.

Slot machines were the most popular among players, accounting for €263.9 million in revenues, 3.4% more than in 2017.

Online Gambling More and More Popular

Commenting on the results, Manuel Violas, president of Solverde, said 2018 had been a reasonable year for the country’s gambling industry, although he pointed out there was more competition due to online game, instant, and lotteries such as the EuroMillions.

The largest market was reported by the Estoril room, which earned €64 million last year, 0.5% more than in 2017. Gaming operations in Lisbon recorded €86.7 million in revenue (a year-on-year rise of 3.4%), while the Póvoa de Varzim casino grabbed €45.9 million in 2018.

The casino in Figueira da Foz reported a 5.9% increase in revenue, amounting to €15.8 million last year, while the Troia casino’s revenue reached €4 million.

The available data published by the regulatory body revealed online gambling was on the rise as well. Portugal’s gross revenues for the online gambling market reached €37.3 million in the second quarter of 2018, representing an increase of €12 million when compared to the corresponding period of 2017.

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