Portugal launches tender for five casinos
On July 24, Portugal’s government opened a public tender to award licenses for the operation of five casinos in three areas; Algarve, Espinho and Póvoa de Varzim, which will run for the next 15 years.
The Espinho and Póvoa de Varzim licences currently include one casino each, with the Algarve gaming area comprising three licences: Vilamoura, Monte Gordo and Barlavento.
Estoril Sol currently owns the Póvoa de Varzim casino licence. Solverde operates the casinos in Espinho, Vilamoura and Monte Gordo. The last casino tenders in Portugal saw Estoril Sol retain the right to operate in Lisbon and Estoril.
The licenses awarded will include the right to use the existing casino premises and equipment throughout their term, with the sole exception of Barlavento. In this case, the casino premises will need to be supplied by the winner of the Algarve license. The licenses will be awarded for a period of 15 years from the date on which the respective concession agreement is signed. The deadline for submission of applications ends on 5 September 2025.
Gaming law firm MdME, which has offices in Macau and Lisbon, explained that eligibility is limited to qualified operators with a strong track record in land-based gaming. To be eligible, candidates must, for example, have valid title for operating games of chance for the previous five years and give evidence of having effectively operated within certain minimum parameters for the previous two years, whether in Portugal or overseas. Candidates must also present strong financial credentials.
Each license will be awarded to the highest bid, ranked according to a multi-factor model that considers an annual fixed fee, percentage of gross gaming revenue proposed as a variable fee and amount proposed as minimum variable fee.
In addition to the annual fees, the winning bidder will be required to pay an initial license fee, in a pre-determined amount (€31m for the Algarve license, €36m for the Espinho license and €33.7m for the Póvoa de Varzim license).
Portugal has 12 casinos and one slot room.
