Casino revenues in Portugal increase by 3.52 percent in 2005

25 January 2006

Lisbon, Portugal, 25 Jan – Casino revenues in Portugal increased by 3.52 percent year on year to 310 million euros, according to official figures published in Lisbon Tuesday.

The figures from the gaming inspectorate-general reported by Portuguese financial daily Diário Económico, show that revenue from traditional games showed a significant increase, 8.34 percent, to 41.4 million euros, while those for automatic machines totaled 266.3 million euros, 2.86 percent more than in the previous year.

According to the paper, Bingo halls lost around 1 percent in revenues last year, at a total of 2.4 million euros.

Portugal’s largest gaming group, Estoril-Sol, owned by Macau gaming magnate Stanley Ho, posted a revenue growth of 2 percent to a total 177.8 million euros.

The Solverde group, which ahs four casinos (Espinho, Vilamoura, Praia da Rocha and Monte Gordo) saw revenues of 94.8 million euros, a 6.5 percent year on year increase.

Speaking to Diário Económico, the directors of both gaming groups said that the stagnation of revenues was due to weak economic growth in Portugal and competition from online betting and casino sites.

In mid-April this year, the Estoril-Sol group will start operating a third casino in Portugal, which is expected to have annual revenues of between 85 million and 90 million euros. (macauhub)