- Sociedade Figueira Praia becomes the ninth license holder allowed to offer online gambling services in Portugal
- Portugal’s young online gambling market showing its first quarterly decline, which could cause some operators to withdraw
The regulatory body in Portgual, Inspeção Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), has awarded another online gambling license to a land-based casino operator.
With this decision, Sociedade Figueira Praia has become the ninth casino operator to be issued a license to offer online casino services in Portugal, despite the fact things haven’t been going in the right direction on the revenue front lately.
Important development for the casino
According to Jorge Armindo Teixeira, this is a critical development for Sociedade Figueira Praia as they’ve been planning to expand into the online gambling market ever since they’ve received their online sports betting license back in June.
The license should help Amorim Turismo, the casino’s parent company, consolidate the growth that was achieved through betting activities. The site will offer games provided by developers such as NetEnt and iSoftBet.
SRIJ has decided to issue another license despite the fact that the Portuguese online gambling market, which has only been around since June of 2016, has already reported its first quarterly decline in revenue between for the period April-June 2017.
This is, in part, due to heavy tax burdens online gambling operators have to deal with in the country, which has caused some of them, like Betclic, to consider their withdrawal from Portugal.
At the same time, the situation is somewhat better for online poker, because there is just one site offering poker games, Amaya-owned PokerStars. The online poker giant is currently enjoying the monopoly in the country with no competitors willing to challenge their position.
Things going well for land-based operators
While the online gambling market has been going through a rough period, things are somewhat better for land-based operators in the country. During the same second quarter of 2017, brick and mortar casinos reported the revenue of €75.2 million, which is a 6.7% year on year increase.
Roulette was the leading income generator among the table games, bringing in €4.6 million of the total amount. Punto banco was the second most popular game, generating €3.1 million.
Of course, electronic gaming machines were by far the biggest revenue creators, with a total income of €61.6 million, showing 5.7% year on year growth.
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