Stanley Ho’s Portuguese gaming concession holder wants to move into Angola and Brazil

20 February 2006

Lisbon, Portugal, 20 Feb – The Portuguese gaming concession holder of businessman Stanley Ho, Estoril Sol, wants to operate in Angola, Mozambique and Brazil, when its most recent investment in Portugal “is at cruising speed,” the company’s managing director, Mário Assis Ferreira said.

According to Assis Ferreira speaking in an interview Friday with Portuguese financial weekly Semanário Económico, the group’s internationalization strategy “has been outlined and was set to be implemented. It was held up only because of the recessive macroeconomic climate in Portugal and the opportunity of running the Lisbon Casino,” the new gaming development in Lisbon which represented a 100-million euro investment.

Once the new casino, “is finished and at cruising speed”, he said, “it will be time to move ahead with our internationalization policy.”

The most immediate opportunity is in Spain, where Estoril Sol won a tender to operate a casino near the capital, Madrid, but the company also has its eye on Mozambique, Angola and Brazil, Assis Ferreira said.

The new Lisbon casino, located in the East of the city, will be launched on April 19, and Estoril Sol expects gross turnover of 75 million euros in its first year of operation. (macauhub)