BREAKING: Portugal has just announced the initiation of a new licensing process for five casino projects across the country, specifically in the regions of Algarve, Espinho, and Póvoa de Varzim. This urgent development will allow operators to secure licenses that will be valid for an unprecedented 15 years.
Under this new initiative, one license will be allocated to both Espinho and Póvoa de Varzim, while a total of three licenses will be made available in Algarve, targeting key locations including Vilamoura, Monte Gordo, and Barlavento. The license in Póvoa de Varzim is currently held by Estoril Sol, and Solverde operates the existing casinos in Espinho, Vilamoura, and Monte Gordo.
Operators have until September 2, 2025, to submit their proposals, making it imperative for interested parties to act quickly. While it is common for existing license holders to retain their rights, failure to secure a bid could result in losing operational rights for the next 15 years.
The competition is fierce, as applicants must meet stringent eligibility criteria. They must demonstrate a proven track record of operating games of chance for at least five years and show a level of success in the past two years. This evidence can be sourced from local operations in Portugal or from other licensed jurisdictions.
Each bid will be meticulously evaluated based on a comprehensive methodology. Key factors include the percentage of gross gaming revenue as a variable fee, annual fixed fees, and proposed minimum variable fees. Notably, the initial licensing fees vary significantly: the Algarve license costs €31 million, the Espinho license is set at €36 million, and the Póvoa de Varzim license demands €33.7 million.
This licensing process is anticipated to reshape the casino landscape in Portugal, potentially boosting local economies and creating new job opportunities. As the bidding period unfolds, all eyes will be on how this will affect existing operators and the new entrants vying for a slice of Portugal’s lucrative gaming market.
Stay tuned for more updates as this story develops—time is running out for potential applicants!