Ho family facing Portuguese challenge

ho-family-facing-portuguese-challenge

With the licences for two of Portugal’s largest casinos, Casino de Lisboa in Lisbon and Casino do Estoril in Cascais, both due to expire at the end of this year, the family of the late Stanley Ho faces losing control of two premium locations in their portfolio.

The two casinos are currently operated by Estoril Sol SGPS SA, whose main shareholder is the Ho family, with Ho’s eldest daughter Pansy serving as Chairwoman of Estoril Sol.

The licence to operate both casinos expires at the end of December 2022, and in August, the Portuguese Government opened a tender for a new 15-year deal. Two bids were submitted: one from an Estoril Sol subsidiary, and one from a Spanish competitor, Bidluck. Estoril Sol has acknowledged that the Bidluck offer had higher value.