Online Casinos drop 50% in Portugal

News reports just claimed that 2021 is going to be a bad year for land based casinos and Online Casinos in Portugal. The European country gambling association just released a statement that during 2020, the income from gambling in general dropped around 50%.

The Portuguese Association of Casinos just told “Regarding the new year that has just begun, we cannot face it with optimism. This pandemic is far away from being over, we predict and new lock down, and most likely we will have new time restrictions on the land based casinos. The unemployment rated, the reduced operating hours, and the fear of a new crisis make the gambling scene to drop both in land based and online casinos”.

They also say that local state lotteries as “raspadinha” and “Euro-millions” are also stealing many of the gamblers from both land-based and online casinos, as most of this games can be payed by cash and be bought almost everywhere around the corner in places such as magazine stores and local cafeterias.

The numbers are horrible says the Portuguese Gambling Association. A Drop of around 50%. They claim that in 2019 the general gambling revenue in Portugal itself was around 315 million euros. In other hands, in 2020, the profit cut down to half to 157 million €-

“We had to fully changed the way that land-based casinos operate due to Covid-19. The sanitary problems made many people run away from our gambling houses, but most importantly, people are afraid of gambling their money because they are not sure whats the economy will bring them in the next months”.

In terms of numbers, “Casino de Lisboa” and “Casino Estoril” were the ones who registered the biggest drop in revenue during 2020. The first one losing around 54,6% to 38,4M in profit and the last one dropping around 52.2% making less than 30 million in revenue.

In the Algarve, a family holiday destination in the country, where most of the gamblers are British Tourists, the drops were around 50,5% at “Casino da Praia da Rocha” and 44,6% at Vilamoura’s casino.

In other news, the country that is in lock-down, is said to fully recover by March of 2020. Hopefully more people will be able to make there bets both in physical and online casinos.

Carlos Costa Silva

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