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Estoril-Sol is controlled by Stanley Ho’s family, a late gaming mogul. The concession has been extended for 15 years to allow Estoril-Sol to continue operating its gaming businesses in Portugal. This includes Casino Lisboa, Casino Estoril and Casino Estoril.
According to Estoril, Estoril’s gaming concession will continue until 31 December 2037 under a contract signed last Wednesday, the company stated.
After Spain’s Bidluck was expelled, Estoril-Sol won last year’s public tender for concession. This was despite Estoril-Sol’s much better financial offer. It is believed that this was due to Spain’s financial capability and suitability.
Bidluck proposed paying more than 86 millions euros per year to Portugal, roughly 20 million more than Estoril Sol’s proposal.
The Portuguese Casino Association reports that the country’s 11 casino saw their revenue rise last year after two years of travel restrictions and strict health regulations.
Income reached EUR 162.4 millions in the first eight months last year. This is a 147% increase over the same period 2021.
The business is still below its pre-pandemic levels, despite these signs of recovery. Gaming rooms had gross revenues of EUR 209.8 millions in the same period in 2019.
