Cabo Verde government approves CVE551m Monte Cara Casino project to boost tourism sector
The 25-year concession for the São Vicente casino development is expected to create local jobs, attract investment and integrate gaming into Cabo Verde’s tourism offering.
Cabo Verde.- The Government of Cabo Verde, through the Ministry of Tourism and Transport, has granted a 25-year concession to Monte Cara Casino, S.A. to operate a casino in the São Vicente Gaming Zone, marking a major step in integrating gaming into the country’s tourism offering and attracting new investment.
The project represents an investment of more than CVE551m (€5m), covering the construction of facilities, the acquisition of gaming equipment and the installation of advanced security and surveillance systems. The development is expected to create 102 direct jobs, with 94 per cent of positions reserved for Cape Verdeans, as well as up to 300 indirect jobs, supporting local economic growth.
Speaking at the signing ceremony, José Luís Sá Nogueira, Minister of Tourism and Transport, described tourism as “an essential strategic asset” for Cabo Verde, anchored in the country’s climate, culture and national identity. He said that as the sector continues to grow and diversify, the country is “integrating gaming into its tourism offering”, adding value to the destination and stimulating new investment, according to Governo de Cabo Verde.
Under the terms of the agreement, Monte Cara Casino will pay the State a CVE70m (€635,000) concession fee, with CVE50m (€454,000) already paid and the remainder to be delivered in phases. In addition, 6 per cent of the casino’s annual gross revenue will be directed towards public-interest projects benefiting the São Vicente Municipal Council and local community associations.
The concession agreement was signed in late 2025, while the start date for construction and development of the casino project will soon be announced.
Casino investment drives tourism
The casino will be located on Avenida Marginal in Mindelo and will include gaming rooms, dining and leisure spaces, administrative offices and parking facilities. It will operate year-round and comply with national standards for security, video surveillance and anti-money laundering controls.
Maria da Conceição Fortes, representative of Monte Cara Casino, described the project as “more than a gaming resort and a milestone in Cabo Verde’s tourism and economic development”, aligning it with the country’s broader strategy to diversify its tourism offering. She also highlighted the promoters’ experience in managing casinos in Cabo Verde and their commitment to responsible gaming and sustainable tourism development.
Minister Sá Nogueira added that the concession reflects the government’s commitment to promoting and diversifying the country’s tourism offering while encouraging investment and strengthening Cabo Verde’s position as a competitive tourism destination.
