Portugal’s Casino Tender Slows

Portugal's Casino Tender Slows

Portugal's land-based casino sector has entered a period of suspension rather than transition, as the country's gambling regulator extends existing concessions while a delayed tender process moves into its review stage. The Serviço de Regulação e Inspeção de Jogos (SRIJ) has confirmed that current licence holders in several regions will continue operating temporarily, following the regulator's inability to conclude the tender process by the end-of-year deadline.

The extensions apply to casino concessions in the Algarve, Espinho, and Póvoa de Varzim, all of which were scheduled for reassignment by 31 December. Instead of final decisions, the SRIJ has granted operators an additional 120 days, citing the need to complete all formal and procedural requirements tied to the tender. The bidding phase itself has already closed, and the regulator is now focused on assessing the submissions received.

While the delay does not alter the tender's structure, it introduces uncertainty for both operators and host municipalities. Casino concessions in Portugal are long-term arrangements that combine gambling rights with broader obligations related to tourism, employment, and regional development. As a result, regulatory caution during evaluation is expected, particularly where changes in ownership or operating strategy may follow.

One outcome of the tender process has already become public and signals a meaningful shift in the market. Estoril-Sol, the country's largest land-based casino operator, has confirmed it will step away from the casino in Póvoa de Varzim after 25 years of continuous operation. In a disclosure filed with Portugal's securities regulator, the CMVM, the group stated that its subsidiary, Varzim Sol – Turismo, Jogo e Animação, did not submit a bid to retain the concession.

The decision represents a targeted withdrawal rather than a broader retreat. Póvoa de Varzim is the smallest casino in Estoril-Sol's domestic portfolio, and its exit appears to reflect a reassessment of long-term value rather than regulatory pressure. The group remains firmly established elsewhere, continuing to operate the casinos in Estoril and Lisbon, where it secured renewed concessions in 2023. Those licences reinforced Estoril-Sol's position in Portugal's most prominent urban and tourist locations.

In Póvoa de Varzim, the tender has reportedly attracted only one bidder. Portuguese media indicate that France's Groupe Lucien Barrière submitted the sole application for the concession. Despite Estoril-Sol's departure, the existing operating rights remain in place during the review period, ensuring continuity while the SRIJ evaluates the bid and its compliance with concession requirements.

If approved, the move would mark Barrière's entry into the Portuguese market. The group currently operates dozens of casinos across France, as well as venues in Egypt and Côte d'Ivoire, and is known for a business model that integrates hospitality and leisure alongside gambling. A Portuguese licence would extend its footprint into Southern Europe, though the presence of a single bidder also heightens regulatory scrutiny during the approval process.

Elsewhere, competition appears similarly limited. In Espinho, reports suggest that Solverde is the only operator to have submitted a bid for the casino concession. Solverde is already a long-standing participant in Portugal's land-based gambling sector and is also believed to have applied to renew its concessions in the Algarve, covering Praia da Rocha, Vilamoura, and Portimão. If confirmed, this would consolidate Solverde's role in regions where casino operations are closely tied to seasonal tourism flows.

The narrow field of applicants across multiple tenders reflects broader pressures facing land-based casinos in mature European markets. Rising compliance costs, fixed investment obligations, and shifting consumer behaviour have made operators more selective when committing to long-term concessions. In Portugal, where casino licences often last for decades and entail significant non-gambling commitments, operators appear increasingly focused on scale, location, and long-term returns.