ITI – Sociedade de Investimentos Turísticos da Ilha da Madeira (Pestana Casino Park) and Sociedade Figueira Praia, which operates the Figueira da Foz casino, are competing for the exclusive license to operate games of chance in the Funchal gaming zone.
The deadline for submitting proposals passed last week. The current contract, valid until December 31, 2026, may remain with the Pestana Group or transfer to the operator of the Figueira da Foz Casino.
The Regional Government initiated the tender process, as the operation of games of chance falls under the Region's responsibility. The winning bid requires an initial payment of 15 million euros and a minimum investment of six million euros, with a 25 km competition protection clause, excluding the Ponta do Pargo area.
