Stanley Ho and Sociedade de Jogos de Macau (SJM) opened the famous Casino Lisboa in Macau and now Ho, as major shareholder in Sociedad Estoril Sol, will see the new Casino de Lisboa open in Portugal. The property is at the old Expo ’98 site, Pavilion of the Future, in the Parque de las Naciones, and the casino is a first for the city of Lisbon. 30 kilometres down the road is the Casino Estoril, a possible rival for the new operation but owned by the same company.

The cost of investment in the new casino is €138.9 million (US$171.4 million), of which €30 million (US$37 million) was licensing fees. 50% of gross gaming revenue will go to the Portuguese public purse, and the casino expects to make around €70 million (US$86.4 million) by the end of 2006. By 2010 Sociedad Estoril Sol anticipates annual revenue of €127 million (US$156.7 million). These figures are based on the assumption of 6,000 daily visitors, rising to 10,000 at weekends. Casino law in Portugal allows casinos to open for 12 hours daily.

The Casino de Lisboa has 1500 slot machines and 22 gaming tables. There are also 3 restaurants, theatre, auditorium and a circular bar. The operation will employ a staff of 500. With so-called penny slots becoming increasingly popular, the new casino will have machines taking minimum bets of 1 cent compared to the minimum 5 cents at Casino Estoril. Casino de Lisboa will be marketed to younger players whilst Casino Estoril will maintain its more glamorous ambience. In this manner the operators hope to keep both properties operating successfully. (E-04.19.06)

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