Operator News
Portugal – Estoril Sol retains its licences in Lisbon and Estoril
By Phil - 28 October 2022
The Estoril-Sol group has retained its licence to operate the Estoril and Lisbon casinos after a rival bid from Spanish online gaming company Bidluck was kicked out of play.
Bidluck was looking to challenge Estoril-Sol’s 60 year licence and had submitted a bid outpricing that of Estoril Sol’s by €20m.
The Portuguese Securities Market Commission kicked Bidluck out of the tender process on October 26 with two of Bidluck’s managers on trial in Portugal for offering illegal gambling.
Estoril-Sol generated GGR of €80.6m in 2021, marking a nine per cent year-on-year increase.
Around 57.8 per cent of the Estoril-Sol group is owned by the Ho family through Finansol with Stanley Ho’s daughter Pansy Ho now the chairperson for the board of directors. Amorim Turismo group owns 32.7 per cent of the operator via Sociedade Figueira Praia, with the other nine per cent owned by small shareholders.
The licence for the Figueira da Foz casino, owned by the Amorim Turismo group, has also been renewed with only Amorim coming forward. Both licences will run for 15 years.
