Tenerife analyses casinos sale

The government from Tenerife will reconsider the possibility of selling the three casinos in the Spanish city operated by the state.

Spain.- The Tenerife government has tried to sell the three state casinos, but its attempts failed. Now, it will analyse the possibility of selling them, along with other administrative plans from the state.

According to PP counsellor Manuel Fernández, “it is a legal and moral obligation” to sell all three casinos. As he explains, the objective of the Cabildo de Tenerife is to stop investing in the public sector. In this context, he asked for “political bravery” so that the government reopens the process of selling casinos.

Lack of bidders for Tenerife casinos

The local government sought to sell the Casinos de Tenerife at all costs but failed to materialise the operation. Thus, the Sí Podemos Canarias group celebrated the lack of bidders, as it doesn’t want to sell them. Spokesman María José Belda described it as “a victory and great news for the more than 150 working people of Casinos de Tenerife and their families.”

Online gaming revenue up in Spain

Gross gaming revenue (GGR) in Spain totalled €191 million in the third quarter of the year. These results represent a 5% increase when compared to the same period in 2018 and a 7% rise from the second quarter of 2019.

All segments increased their revenues from the previous quarter, with the exception of casinos, which registered a 4% decline from Q2 but 9% up from a year before. Of the total GGR in the third quarter, betting accounted for 53%, casino 35%, poker 11% and bingo 2%.