Portuguese casinos follow France in posting first rise since recession

Portuguese casinos follow France in posting first rise since recession

Tuesday, January 26, 2016 Totally Gaming
The casino industry declined by 37 per cent between 2008-14

Portugal’s casino industry grew by eight per cent in 2015, following a 37 per-cent decline in the previous six years.

Figures released by the Associação Portuguesa de Casino (ACP) show that the country’s 11 land-based casinos posted revenue of €288.6m ($311.9m), following the dramatic fall since the global economic downturn in 2008.

The ACP analysis reported that total table game revenue grew by 12.4 per cent while slot machine revenue rose 7.2 per cent. The ACP said that the less impressive slot figures were due to increased competition from international online casino sites.

Portugal’s largest casino operator Estoril-Sol, which runs three casinos and whose chairman is Macau tycoon Stanley Ho, attracted revenue of €182.3m.

Manuel Violas, president of Solverde, which runs five casinos, told the Economico newspaper that 2015 “was a year of recovery, although insufficient to cover the downturn”.

The news comes just a week after France announced its first revenue rise in seven years, with growth of 2.2 per cent in 2015 to €2.2bn.

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