Portugal grants new iGaming license
The local regulator has granted the seventh online license to sports betting company Figueira Company Praia.
Portugal.- Serviço de Regulação e Inspeção de Jogos, the Portugal gaming regulator, has announced that the country issued a new online gaming license to Figueira Company Praia that is set to offer its sports betting served on its CasinoPortugal.pt website.
Figueira now hold the third sports betting license in the country, as bet.pt and Betclic are the other two holders that also are licensed to offer online casino services. Among the other companies that were granted iGaming licenses in Portugal are PokerStars and EstorilSolcasinos.pt. Whilst the sports betting market has shrunk from the US$20 million reported in the last quarter of last year to US$19.5 million in the first of 2017, companies like Bet Entertainment Technologies and Betclic have collected 70 percent of the revenue total with US$64.8 million.
The regulatory body said earlier this month that the companies that thad licenses in the country during the first three months of the year that ended on March 31 generated revenue of approximately US$35 million. The number represents a 13.7 percent increase when compared to the US$30 million that five licensees registered during the last three months of 2016.
