The Tenerife Island Council Prepares the Sale of Its Three Casinos Amid Growth and Modernization

The island authority is reactivating its roadmap for the divestment of these assets following the failed attempt in 2018. According to budget forecasts, the venues are expected to maintain revenue levels similar to those of 2025, consolidating both operational and asset profitability at what is considered a strategic moment to launch a new tender process.

Modernization and rising results

First Vice President and Island Councillor for Tourism, Lope Afonso, highlighted that the Casinos of Tenerife are experiencing "a great moment from a patrimonial, operational, and social standpoint," underlining the steady consolidation of revenues, profitability, and EBITDA.

As part of the 2026 plan, the annual report includes investments aimed at renewing the portfolio of Type C slot machines and implementing new management and control software at Santa Cruz Casino and Taoro Casino. The network is completed by Playa de las Américas Casino, which is set to lead overall revenue generation.

Playa de Las Américas Casino, located at the H10 Gran Tenerife hotel, expects to reach nearly €7.6 million in revenue, representing a 13.4% increase over the current year, driven by the comprehensive refurbishment of its gaming floor and improved operational efficiency. Profit is estimated at €1.6 million, supported by strong growth in slot machines (+20%) and table games (+5%).

Meanwhile, Taoro Casino projects revenue of approximately €7.5 million (+16.3%) and a profit of €2.6 million. Santa Cruz Casino expects revenue of €3.1 million (+21.5%) and a positive result, supported by new areas such as Zona Racing Canarias and the Art Tunnel.

Diversification and strategic positioning

Beyond gaming operations, the Island Council is promoting a diversification strategy aimed at strengthening the casinos' integration into the island's social and economic fabric. Santa Cruz Casino will open its facilities to forums and conferences linked to sports, economics, and culture, consolidating its profile as a multifunctional venue.

The plan also includes replacing outdated machines and implementing comprehensive technological upgrades to enhance the customer experience and improve competitiveness.

A new divestment attempt

The Island Council maintains its intention to relaunch the sale process, considering that casinos do not constitute an essential public service. The 2018 precedent — when the tender was declared void due to unmet bidding conditions — does not deter the current strategy. In the present context, asset valuation could significantly exceed the approximately €25 million estimated at that time.

The Council also highlights the labor stability achieved following collective negotiations and the contribution of dividends generated by the casinos to supporting island public policies.

With modernized assets, solid financial results, and a diversification strategy underway, Tenerife is preparing to relaunch to the market three operators that combine profitability, tourism potential, and institutional relevance within Spain's gaming ecosystem.