PORTUGAL ISSUES FIRST ONLINE CASINO LICENSE
But fears linger that high taxation rate will discourage operators.
At least one online casino operator is undeterred by Portugal's relatively high 15 percent of GGR tax rate – national regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal announced Monday that it has issued its first online casino gambling license to Estoril Sol Digital Online Gaming and Products Services SA, which will operate the website Estroilsolcasinos.pt, powered by Belgian provider Gaming1.
The owner of Estoril Sol Digital Online Gaming is a major Portuguese land operator with three local brick and mortar operations and revenue of over Euro 180 million last year…the chairman has a well-known name in gambling circles, albeit in a different geographical region – Stanley Ho of Macau fame.
The new license is a first for online casino action, but joins two others that have been issued to Betclic and BET for online sports betting activity