Portuguese State Charity Wants In On Online Gaming

Applies for Sportsbetting, horserace betting and games of chance licensing

Portuguese state-run charity Santa Casa da Misericórdia de Lisboa (SCML) has announced the creation of a consortium which will "affirm itself as a major player in the Portuguese online gaming market" should it receive relevant licensing.
SCML holds a 54 percent stake in the newly formed Sociedade de Apostas Sociais, S.A. (SAS) consortium, União das Misericórdias Portuguesas (UMP) 16 percent, Fundação Montepio Geral 15 percent, Cáritas Portuguesa 7.5 percent and ACAPO 7.5 percent.
A statement from SCML indicates operations will begin as soon as the relevant licenses have been issued by the regulator to which SAS has applied for sports betting, horserace betting and games of chance.
Eduardo Martinho, vice-president of SCML, will lead the consortium which he says is "totally committed to mobilize the necessary resources for a project of great ambition."

Online Casino News Courtesy of Infopowa