Casino Concession in Madeira Secured for €15 Million
Madeira GuideMadeira's iconic casino has been granted a 15-year concession for €15 million, with a mandatory €6 million investment in infrastructure modernization.
In a significant development for Madeira's tourism sector, the concession for the island's prominent casino has been finalized at a cost of €15 million. This international bidding process will see the casino operated for a duration of 15 years.
The terms of the concession include a stipulation for an obligatory investment of €6 million aimed at upgrading and modernizing the casino's infrastructure. This move is expected to enhance the casino's appeal and reinforce Madeira's position as a prime tourist destination.
In addition to the casino concession, significant local developments are underway. The Câmara de Lobos has approved an urban development project for constructing a cable car system, known locally as the 'Teleférico do Curral'. This project is subject to preventive measures to ensure safety and sustainability.
Furthermore, in Santa Cruz, municipal authorities have allocated two plots of land for housing development, reflecting ongoing efforts to boost local infrastructure and support the community.
These initiatives are part of a broader strategy to sustain Madeira's growth and attractiveness to both residents and tourists alike. The casino, in particular, is a key attraction, drawing visitors with its combination of gaming, entertainment, and cultural offerings.
Sources
Madeira Guide
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