Portugal restores Gambling Market

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According to the country’s governing regulating body, the market indeed recorded a year-on-year increase for 2015. According to the Associação Portuguesa de Casino (ACP), the 11 operating casinos posted revenues of €288.6 million, improving 8% from the 2014.

A full market for gaming will be launched later this year in Portugal. According to Portugal Secretary of State for Tourism Adolfo Mesquita Nunes, the target date has been set for June 28, after the Council of Ministers in March 2015 approval of a bill to establish a legal framework for online gaming, later signed off on by President Aníbal Cavaco Silva.

The licensing and regulation will be overseen by Portuguese national regulator Santa Casa de Misericordia de Lisboa, with the body to be responsible for a number of additional tasks that the new structure will require. Applicants required to submit financial guarantees and undergo a three year trial period.

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