The government of Tenerife is again seeking to sell Casinos de Tenerife, which operates three casinos in Taoro, Santa Cruz, and Playa de las Américas, after a previous attempt to offload the business in 2018 for €25 million (US$29 million) failed.
Market analysts now estimate the potential sale price could reach roughly double that earlier figure.
The Playa de las Américas Casino, located inside the H10 Gran Tenerife Hotel, is projected to generate €7.6 million (US$8.9 million) in revenue this year. The increase is being driven by strong growth in slot machines, which are up 20%, and table games, which have risen by 5% following renovations and modernization works. Overall, this would represent a 13.4% increase compared with last year’s earnings.
Meanwhile, the Santa Cruz Casino is expected to bring in about €3.1 million (US$3.64 million), a projected 21.5% rise. Slot revenue is forecast to grow by 15% and table games by 2.5%, supported by new attractions such as the Racing Zone Canarias and the Art Tunnel.
The Taoro Casino, the oldest casino on the island and located in Puerto de la Cruz, is anticipating revenue close to €7.5 million (US$8.8 million), representing a 16.3% increase, with profits expected to reach €2.6 million (US$3.05 million).
Officials at the Cabildo, which is the name given to Tenerife’s local government, also plan to upgrade operations ahead of the potential sale by replacing older gaming machines and improving casino floors with new management and control software.
According to a report by Terenife Weekly, the Santa Cruz Casino will also open its facilities for forums and conferences on sports, economy, and culture, emphasizing its role as a multifunctional venue in Tenerife’s capital.
“The casinos of Tenerife are experiencing a significant moment from a patrimonial, operational, and social perspective,” First Vice President and Tourism Councillor Lope Afonso said. “The approved budgets for this fiscal year display a progressive consolidation of their revenues, profitability, and EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation).”
The Cabildo plans to relaunch the sale of the casinos, following the failed 2018 attempt, since they are not considered essential public services. It failed because the sole interested bidder could not meet the tender conditions.
While acknowledging that casinos are not essential public services, Afonso emphasizes that they are important assets. He pointed out that their dividends help fund the Cabildo’s public policies, which strengthen the casinos’ market value and positioning for future sale procedures.
Original article: https://www.yogonet.com/international/news/2026/02/20/117705-tenerife-government-puts-casinos-de-tenerife-back-on-sale
