Delayed Disclosure of Gaming Concession Bids
Two weeks after the government's deadline ended on September 5th, the number of candidates vying for the new gaming concessions in Espinho, Póvoa de Varzim, and Algarve remains undisclosed. This waiting period is longer than in 2022, when bids for the Estoril and Figueira da Foz concessions were promptly announced the following Monday.
Government Silence and Corporate Non-Responses
The Ministry of Economy, overseeing this area via Turismo de Portugal, has not responded to inquiries about the number of applications submitted. Official sources stated that the process involves qualifying candidates first, with disclosure to follow on the public procurement platform as per the Public Contracts Code. No statements have been made by current operators Solverde (managing Algarve and Espinho casinos) or Estoril-Sol (managing Póvoa de Varzim), and no mandatory announcements have been filed with the CMVM market regulator.
Financial Stakes and Concession Details
Espinho: The Most Valuable Zone
Espinho's concession, previously held by Solverde, requires an initial payment of €35.99 million to the state, plus a minimum annual fixed fee of €1.9 million and a variable fee of 45-50% of gross revenues (after prize payouts), with a floor of €15 million. The term is 15 years, extendable by five years.
Algarve Concession
This involves an initial payment of €31 million (the lowest among the three), a minimum annual fixed fee of €1.5 million, and a variable fee of 30-35% of gross revenues, with a minimum of €9 million.
Póvoa de Varzim Concession
Managed by Estoril-Sol, this requires an initial payment of €33.65 million, a minimum annual fixed fee of €1.8 million, and a variable fee of 45-50% of gross revenues, with a minimum of €14.5 million.
In total, these three concessions are set to generate an immediate revenue of over €100.6 million for the state from initial payments alone, highlighting the significant economic impact.
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