Tax revenues from Cape Verde casino increased by 22% in the first four months of 2023

Tax revenues from the sole casino in Cape Verde for the period from January to April 2023 amounted to 19 million escudos ($187 million US dollars). This is according to a budget execution report from the Ministry of Finance of the island nation, published recently.

Compared to the same period last year, revenues increased by 21.6%.

The government of the African country included a forecast of collecting 60 million escudos in the budget for 2023. As of the end of the first four months of the current year, 31.4% of this amount has been received.

The gambling establishment named Casino Royal was opened in the year Santa Maria on the island of Sal in 2016. The investment volume for its opening amounted to around five million dollars. The casino resumed its operations in 2022 after a ten-month closure caused by the Covid-19 pandemic. It features ten gaming tables, including roulette, poker, and blackjack, as well as 85 slot machines. The casino employs over 80 staff members. On average, more than 150 players visit the establishment daily.

It should be noted that there are also plans to open a casino resort in the capital of the country, Praia, on the island of Santiago. The operator Macau Legend Development obtained the corresponding license several years ago.

In the future, the government also intends to grant a 25-year concession for the operation of a casino on the island of São Vicente.

Image source: unsplash.com, Derek Lynn