SBC News ‘High ambitions’ for PokerStars as it joins Portuguese market

‘High ambitions’ for PokerStars as it joins Portuguese market

The Portuguese Online Betting and Gambling Association (APAJO) has announced Flutter Entertainment’s PokerStars as its newest affiliate member. 

As one of the first brands launching in the Portuguese regulated market, PokerStars joins forces with other sportsbooks within the APAJO such as Betano, Betclic, Bwin, Casino Portugal, ESC Online and Solverde.pt.

João Saraiva, Planning and Strategy Manager for Portugal at PokerStars, commented: “We are delighted to join APAJO and look forward to sharing our expertise from other licensed jurisdictions to support APAJO in promoting a responsible and safe play environment. 

“We have high ambitions for this market, and we can’t wait to start working together with APAJO.”

Representing its locally licensed members in regulator, government and legislator discussions, the APAJO also developed a Responsible Gambling Manual, with members committing to additional measures to the ones required by law. 

“APAJO is pleased to welcome into its group one of the leading international brands and an operator which has been in the market since 2016,” added Ricardo Domingues, President of the Board of APAJO.

“We look forward to working with PokerStars to promote an entertaining, safe and sustainable environment for online gambling in Portugal. APAJO has ambitious plans for 2023 and PokerStars will play an important role in driving these forwards. 

“We also would like to use this opportunity to renew our invitation to the other licensed operators to join.”

In recent months, Flutter Entertainment published its 2022 annual report, which confirmed group-wide revenue growth of 27% to £7.7bn (2021: £6bn), EBITDA up 4% to £1.04bn (£1bn), with a margin of 14% (16.6%), and a gross profit increase of 20% to £4.5m (£3.8m).

“As we look forward into 2023, the Group is at an earnings transformation point, and very well placed to deliver future growth and progress further against our strategic priorities,” Flutter CEO Peter Jackson said at the time.

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