History of Casino Lisboa

On April 19, 2006, the Casino Lisboa has been opened in Lisbon, Portugal. The company has undergone several challenges before being fully operational. Despite of all those issues, the company remains strong and profitable as it stands at the Parque das Nações or Park of the Nations of the city.

The Estoril-Sol, which is a company of Stanley Ho and Amorim, owns the Casino Lisboa. These owners are known to be experts in running such business. Their expertise is proven by their other successful companies within the same field. Stanley Ho owns another Casino Lisboa located in Macau while Amorim manages two other gambling companies in Portugal. Currently, Mario Assis Ferreira serves as the CEO of Estoril-Sol.

Controversies about the company arise even before it has been built. There is an assumption wherein the Lisbon Mayor back then approves the project to serve as a source of income for the reconstruction of the theater district. The original location of the gambling arena is also questioned. It is perceived to be a bad influence for the younger generation near the place. The concession of the company has been also an issue. Supposedly, each gaming zone should only hold one casino. Estoril-Sol and the Portuguese government have debated over the issue but later on, Estoril-Sol has been allowed to operate.

The estimated total building cost of the company is 108.9 million euros. This amount includes the 30 million euros that serves as concession fee for the span of 15 years. The company has been able to get back 30.2 million euros from the total revenue within its first five months. The company has claimed that the result of its initial operation is higher than its expected plan. However, the 6,000 target customers per day are replaced by the 10,000 total visitors for its first month.

Half of the company's turnover is allotted to the State. This is in line with the concession terms. Actually, the company expects to have 70 million euros as its turnover. Meanwhile, the company has already awarded 14 million euros for prizes for the whole month of June only. This is the result of the company's 90% payout ratio.

The company has started with 700 slot machines, 22 table games, 4 bars, 3 restaurants, and a 600-seat theater. Even though the company's initial properties are quite few, it continuously emerges as a successful company today. The company operates from 4:00PM to 4:00AM during Friday, Saturday, and holidays.