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Casino revenue grows for first time in eight years

2015 saw more people taking a flutter at Portuguese casinos for the first time in eight years.

Growth in revenue is reported at 8%.

Portugal’s casino association (APC) is still wary about the future, explaining that it is nonetheless “a small recovery compared to the 37% drop between 2008 and 2014.”

“It is not enough to make up what has been lost over the years,” said Manuel Violas, president of Portugal’s leading casino group Solverde – though he said he was optimistic that improving numbers are a “sign of a recovering economy”.

Data from APC shows that while “traditional games” like poker and the Russian roulette registered a 12.3% growth, slot-machines ‘only’ grew 7.2% as they face “tougher competition from online gambling”.

Póvoa do Varzim’s casino was where revenue grew the most (+12.7%), reaching €41.9 million, followed closely by the Algarve’s casinos (+9.3%) in Praia da Rocha, Albufeira and Monte Gordo, which made €29.6 million.

Overall, revenue was highest in Lisbon’s casino (€78.9 million).

The positive news comes at the same time that Portuguese movie theatres are also celebrating a revival.

michael.bruxo@algarveresident.com