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Portugal – Portugal’s casinos bounce back with eight per cent increase

By - 21 January 2016

Portugal’s casino sector has shown remarkable recovery throughout 2015 with the country’s 11 gaming floors posting Gross Gaming Revenues of €288.6m, representing an increase if eight per cent on last year’s figures.

The Portuguese Association of Casino (ACP) said however: “It is only a slight recovery when you consider the 37 per cent fall in revenues between 2008 and 2014.”

The Association believes that 2016 will show further year-on-year growth but not at the same rate as 2015.

Table games led the way with an improvement of 12.3 per cent. Slot machines grew by 7.2 per cent although the ACP said that competition from online casino hampered that growth.

The Lisboa Casino was once again the top earning casino with GGR of €78.9m, an increase of 7.8 per cent from 2014. Its owners, Estoril-Sol also saw increases of 6.5 per cent at the nearby Estoril casino which posted GGR of €61.5 m. With revenues of €41.9m at its other casinos; Povoa de Varzim, the Estoril group’s overall revenues were up 8.3 per cent on 2014.

The Solverde group, owner of casinos in Espinho, Chaves, Vilamoura, Hotel Casino Algarve and Monte Gordo, recorded revenues of €78m, an increase of 8.4 per cent compared to 2014. The largest growth took place in the Algarve casinos, where GGR reached € 29.6m, amounting to growth of 9.3 per cent.

The casino in Figueira da Foz earned a steady €14.9m for its owner Amorim Turism, representing an increase of 0.67 per cent whilst Troi, owned 75 per cent by Aquaris Fund and 25 per cent by Amorim Turismo, saw the biggest turnaround in the sector with GGR up by 37.5 per cent €4.4m.

The final venue; Casino da Madeira, owned by Pestana group, earned GGR of € 8.6m, up just 0.21 per cent.

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