Cape Verde’s only casino sees 122 pct revenue jump in 2021

February 3, 2022 Europe Earnings & Filings Industry Updates

Gross gaming revenue generated by the only Cape Verdean casino increased by more than 122% in 2021, compared to the previous year, strongly impacted by the covid-19 pandemic, exceeding one million euros, according to data from the African country’s Ministry of Tourism.

The gaming inspection authority (IGJ) had recorded in 2020 a gross revenue from gambling at a casino – the only one in the country operating on the island of Sal – equivalent to 477,758 euros (4.3 million patacas).

This was a 67% drop compared to the record of 1,468,198 euros in 2019, explained by the eight-month stoppage of activity in 2020, due to national and international restrictions to contain the covid-19 pandemic.

In 2021, with the resumption of tourism, the IGJ saw gross revenue increase by 122.6%, compared to the previous year, to 1,063.39 euros, corresponding in turn to a game volume of more than 6.2 million euros.

Of the gross revenue, 10% corresponds to the payment of the special tax on gambling by the concessionaires.