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Casino Suffered Heavy Loses During Pandemic Years

The Regional Secretary of Tourism and Culture, Eduardo Jesus, spoke at the Madeiran parliament defending a proposal for a regional legislative decree that authorises the extension of the current concession of the casino, in what is referred to as Funchal’s Gambling Zone, which is currently under the responsibility of the Pestana Group.

He explained that during the pandemic the country’s casinos lost revenue, and it was decided at a national level to extend their concessions for two years. Furthermore, Eduardo Jesus proposes that the casino’s directors are offered an additional year to compensate for the pandemic losses.

Eduardo Jesus said that the casino’s revenue declined by 45.5% in 2021, 47.13% in 2021, and 25% in 2022. All of which were above the national average of -21%.

Samantha Gannon

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