Caravel lands Portuguese online betting and gaming licences

6 December 2019

Gambling operator Caravel Entertainment has secured a two new licences to offer sports betting and games of chances in the Portuguese market.

Approved by the country’s Comissão de Jogos do Turismo de Portugal, the licences will enable Malta-headquartered Caravel to operate its Moosh brand in Portugal.

One licence will cover sports betting, where the consumer plays against the operator, while the other will permit games of chance such blackjack, roulette and slots.

Players in Portugal will soon be able to access both sports betting and games of chance via the domain.

Caravel Entertainment becomes the twelfth operator to secure gambling licences in Portugal, joining the likes of 888, The Stars Group, Betclic Everest Group and Betano. Little information is available about the business, though it appears to have been established in 2017, and headquartered in Silema, Malta.

Portugal’s national gambling regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal is yet to publish third quarter financial results for the country’s online gaming market.

The most recent set of results, for the second quarter, showed Portugal was able to break its revenue record for the second consecutive quarter, with licenced operators generating a collective total of €48.3m (£40.8m/$53.5m) in the three months to June 30.

The figure surpassed the previous quarterly record of €47.3m, which was set in the first three months of the current year, while revenue was up 29.5% on a year-on-year basis.