Portugal Launches Urgent Process for Five Casino Licenses
UPDATE: Portugal has just announced an urgent new licensing process for five casino projects, set to reshape the gambling landscape over the next 15 years. Officials confirmed that licenses will be available in three key locations: Algarve, Espinho, and Póvoa de Varzim.
This initiative allows for three licenses in Algarve, and one license each in Espinho and Póvoa de Varzim. The Algarve licenses will be allocated to the cities of Vilamoura, Monte Gordo, and Barlavento. The license in Póvoa de Varzim is currently held by Estoril Sol, while Solverde operates the casinos in Espinho, Vilamoura, and Monte Gordo.
Candidates have until September 2, 2025, to submit their applications, and the stakes are high. Winning applicants must meet stringent eligibility criteria, including a proven record of operating gaming establishments for the past five years and demonstrating success in the last two years. This evidence can be sourced from within Portugal or any other licensed jurisdiction.
The licensing fees are substantial: the Algarve license costs €31 million, the Espinho license is priced at €36 million, and the Póvoa de Varzim license demands €33.7 million. These fees reflect the immense value and potential of these gaming operations.
It remains unclear if current license holders will retain their rights, as they risk losing their licenses for the next decade and a half if they fail to secure a bid. However, successful applicants will have rights to existing equipment at the casinos, with the exception of Barlavento, which will retain its equipment.
The selection process will evaluate bids using a comprehensive methodology that considers factors such as gross gaming revenue and fixed fees. With a limited number of licenses available, competition is expected to be fierce, making this a critical moment for potential operators in Portugal’s gaming sector.
As the deadline approaches, all eyes will be on the evolving landscape of Portugal’s casino industry. This is a developing story, and further updates will be provided as more information becomes available. Stay tuned for the latest developments as the competition heats up.
