(AsiaGameHub) – Portugal has finalized an agreement for a new casino project, ending months of delays.
The Serviço de Regulação e Inspeção de Jogos (SRIJ), the regulatory body, has given its approval for Portugal to increase its land-based casino count from 11 to 14.
Following extensive negotiations, the SRIJ, alongside the Portuguese Tourism Authority, the Ministry of Economy, and the State Agency for Territorial Cohesion, has reached a consensus on licensing fees, taxation procedures, and adherence to European Union (EU) procurement regulations.
Beyond the renewal of existing casino licenses, this decision is fundamentally about Portugal determining the ownership of approximately 15% of its most lucrative gaming assets for the next 15 years.
The concession framework will evaluate operators based on three factors related to tax revenues:
- 50% weighted on the highest percentage of their gross gaming revenue (GGR),
- 35% based on an annual fixed concession payment,
- 15% derived from a guaranteed minimum of variable contributions.
The Portuguese government has structured this evaluation model to maximize long-term public revenue while ensuring operators have sufficient earnings to maintain and enhance their gaming facilities, guarantee business continuity, and boost tourism to Portugal.
Currently, Solverde is the primary operator in Portugal’s gaming sector, holding concessions for both the Algarve and Espinho. This recent reassessment has further solidified their position as the leading land-based casino operator in the country.
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