While it remains a relatively young market, Cape Verde’s regulated industry is beginning to pick up pace 12 years after casino gambling was established in the country, with the official opening of the country’s first venue at the beginning of 2017.
The legislation establishing land-based gambling has been in force since 2005, following negotiations to allow casinos in five gambling zones on the islands of Santiago, Sal, São Vicente, Boa Vista and Maio, with concessions still available on the latter three.
"With a number of international routes connected to the rest of the world, [Cape Verde] is able to attract tourists from North Africa, West Africa, Europe, South America, Central America and the Caribbean, thereby creating a new market, especially with the trend that more and more Chinese are emigrating and investing in these places and this saves them from a long flight to Asia,” stated Chow in February 2016.
This new complex is set to receive 15 years of tax relief and concessions, and a deal struck gives Macau Legend exclusive nationwide rights to online gaming, online sports betting, and physical sports betting for seven years.
"While gambling is a relatively recent industry in Cape Verde, it is well-positioned to grow rapidly, with the start of online gambling operations and the opening of new casinos in the next five years, running parallel to the growth in hotel supply,” said António Alegria, a consultant in law and economics for Cape Verde’s Ministry of Tourism. "Gambling is part of the government’s wider strategy of enlarging the existing tourist offering and casinos are seen as significant components of this expansion.”
"The construction of casinos and their integration in the hotel space primarily targets visitors to Cape Verde on vacation, rather than the local population, who have low purchasing power,” added Alegria.
Allegria explained that the government aims to sustainably develop gambling activity in the archipelago by integrating it with the country’s wider tourist industry.
Hotels in Cape Verde registered around four million overnight stays in 2016, with visitors mainly from Europe – the UK, Portugal, France, Germany, the Netherlands, Italy and Switzerland – this number grew by 13 % over the previous year.
The country’s regulator Cabo Verde General Gaming Inspectorate (IGJ) was created in August 2010, and has been overseeing the licensing process. However, there is talk that the government intends to merge the IGJ with the Cape Verde Tourism Institute, on the grounds that gambling is a component of the national tourism industry.
Source: GMB / Casino-review.co
