888 granted Portugal online gaming licence
London-listed operator given approval to offer poker, slots and French roulette
888 has been granted an online gaming licence in Portugal, becoming the 10th operator to be approved by the regulator.
The gaming licence allows 888 to offer online slots and French roulette, as well as cash and tournament poker on 888.pt.
888 is the 10th company to be licensed in Portugal with 16 licences issues overall, made up of seven online betting licences and nine online gaming licences.
This licence was signed on 14 January, and published Monday by the Portuguese regulator SRIJ. It runs for three years until 13 January 2022.
The market currently taxes online casino revenue at between 15-30%, with sports betting suffering from the more punitive rate of 8-16% on turnover.
The Portuguese government was expected to switch to a unified rate of 25% of GGR across all verticals, but the plans were left out of the Portuguese budget at the last minute, likely due to pushback from local incumbents.
Portugal’s online gambling market posted a 31% rise in Q3 2018 as GGR reached €38.5m.
888 shares were up 1% this morning.