Portugal launches public tender for five casino licenses

Portugal has launched a public tender to award five casino licenses across three regions —Algarve, Espinho, and Póvoa de Varzim— offering 15-year concessions in one of Southern Europe’s most tightly regulated gambling markets.

The government announced that applications will be accepted until 5 September 2025, with licenses set to be awarded based on a multi-factor evaluation model that includes annual fixed fees, a share of gross gaming revenue (GGR), and minimum variable fee commitments.

The licenses available in the public tender include three in Algarve —Vilamoura, Monte Gordo, and Barlavento— as well as one each in Espinho and Póvoa de Varzim.

Existing operators include Estoril Sol, which currently holds the Póvoa de Varzim license, and Solverde, which operates in Espinho, Vilamoura, and Monte Gordo.

The new licenses will allow winning bidders to use existing casino premises and equipment, with the exception of Barlavento, where the operator must provide the venue. Each concession includes an upfront license fee: €31 million ($35.80 million) for Algarve, €36 million for Espinho, and €33.7 million for Póvoa de Varzim.

The evaluation model assigns:
• 50% weight to the GGR share offered as a variable fee,
• 35% to the proposed annual fixed fee, and
• 15% to the minimum variable fee.

To qualify, bidders must demonstrate a minimum five-year license history for games of chance, evidence of having effectively operated within certain minimum parameters for the previous two years, and strong financial credentials. 

Portugal currently has 12 casinos and one gaming machine room. The last major tender, in 2022, saw Estoril Sol —controlled by Finansol, a subsidiary of Macau’s STDM, chaired by Pansy Ho— retain licenses for the Casino de Lisboa and Casino do Estoril after its only competitor was disqualified.

Rui Pinto Proença, a partner at gaming law firm MdME with offices in Macau and Lisbon, told Inside Asian Gaming: “This public tender may be the last opportunity to secure a new casino license in Portugal for the foreseeable future.

"For international operators looking ahead, the Algarve stands out – with its established tourism reputation and premium visibility – offering a strategic gateway into one of Europe’s most appealing destinations.”