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Estoril Sol holding risks losing Portuguese licenses

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The famous businessman Stanley Ho remains mainly known for having held the monopoly of Macau casinos for many years. Nevertheless, he was not only active there. He also operated several gambling establishments in Portugal.

As the licenses of 2 of these are about to expire, a tender has been officially launched.

The problem is that a competitor company has made a higher offer than that of the family of Stanley Ho, deceased since May 26, 2020 (see article below NDLR).

It could therefore lose control of Casino Lisboa and Casino Estoril in the near future.

A new 15-year concession

At the end of December 2022, the operating license for Casino Lisboa and Casino Estoril expires. The latter are simply the most important gaming complexes in Portugal and some of the largest on the entire European continent.

Last August, a tender was launched to determine which operator would be awarded a new 15-year concession.

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Naturally, Stanley Ho’s family did not fail to bid via the Estoril Sol holding company. However, another bidder has also made a competing offer, which is of higher value.

Unfortunately, the identity of this famous company, which could eventually take control of Casino Lisboa and Casino Estoril, is not yet known.

The family of Stanley Ho, majority shareholder of the holding Estoril Sol

Chaired by Pansy Ho (one of Stanley Ho’s daughters), the Estoril Sol holding is 57.8% owned by Finansol. It is a subsidiary of the mythical Sociedade de Turismo e Diversões de Macau (better known by its acronym STDM) which manages, among others, the emblematic Grand Lisboa and Grand Lisboa Palace in the former Portuguese colony on behalf of the Ho family.

Estoril Sol also owns the smaller Casino da Povoa in northwest Portugal. In addition, the holding company also operates online gaming in the country. However, it is mainly its Casino Lisboa and Casino Estoril establishments that generate the bulk of the revenue. For information, these amounted to approximately 133 million euros, for example, during the year 2021.

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About Casino Lisboa and Casino Estoril

Prestigious gambling establishments on the European continent, Casino Lisboa and Casino Estoril are located in the urban area of Lisbon.

Casino Lisboa opened its doors on April 19, 2006 in the Parc des Nations in the capital of Portugal. It has no less than 700 slot machines and about 20 tables dedicated to traditional games.

Inside a modernist style building, the Casino Estoril is much older, since it was inaugurated on January 16, 1916. After changing hands several times, in 1987 it was taken over by Stanley Ho. It also has over 700 slot machines and numerous gaming tables to enjoy.

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