Revenues at Portugal’s Casino Lisboa in line with expectations

22 May 2006

Lisbon, Portugal, 22 May – The revenues at Portugal’s Casino Lisboa, owned by the Estoril-Sol group, which is controlled by Macau businessman Stanley Ho, are line with forecasts for the casino’s first month in operation and the impact on Casino Estoril, owned by the same group, was less than expected, company officials said.

According to Mário Assis Ferreira, president of Estoril-Sol, in its first month of business the Portuguese capital’s casino generated revenue of 6.5 million euros, in line with the forecast of 70 million euros by the end of 2006.

Of the total, 90 percent of revenue came from slot machines, he said..

Casino Lisboa, which is aimed at a young target market, had already welcomed 234,000 visitors, an average of 9,000 per day, Assis Ferreira told Portuguese financial daily newspaper Diário Económico.

Initial projections pointed to a 25 percent fall in revenue at Casino Estoril, on the outskirts of the Portuguese capital, but so far the fall has not gone beyond 10 percent.

Thus, Assis Ferreira said, the casino Estoril business plan was reviewed for the year, with an expected fall in revenue of 7 million euros in revenue to 120 million euros, some 17 million euros above what had been initially expected.

Prize volume at Casino Lisboa currently stands at around 700,000 to 750,000 euros per day.

Casino Lisboa, which is Estoril-Sol’s third casino, opened its doors to the public on April 19 and cost 110 million euros to build.

Revenues at Portuguese casinos increased 10.6 percent in the first quarter of the year, against last year, to 83 million euros, according to official figures. (macauhub)