New De Borla store in Funchal; New Art Nouveau and Art Deco exhibition opens in Funchal; FREE exhibition Madeiran culture Machico; Integrating the financial funds of Santa Casa da Misericórdia into state budget; Portugal has the oldest lottery house in the world; Santa Casa da Misericordia de Lisboa (SCML); Portuguese Gambling Laws; Portuguese lotteries;

Portugal and Madeira News from Paul Abbiati:

New De Borla store in Funchal

The business responsible for the Distribution of DeBORLA will open a second store in Madeira region in Funchal in the old premises of the DIY store IZI

New Art Nouveau and Art Deco exhibition opens in Funchal

Today Thursday 22 de Setembro in the Casa-Museu Frederico de Freitas at 6pm is the Inauguration of the Museum’s new exhibition: ‘Arte Nova e Art Déco: o silêncio das formas’.

FREE exhibition on Madeiran culture Machico

FREE exhibition Madeiran culture Machico at Fórum Machico on ocean front inauguration today at 5pm includes

-Festividades (bailes e músicas populares de Natal, Reis e Espírito Santo)
-Trabalho (cantigas da ceifa, eira, carga, mar, pisa, entre outras) e
-Espaço Doméstico (romances, histórias, orações, curas, etc).

organised by António Aragão e Artur Andrade. The exhibition is until 21 de Outubro de 2011 and then do not forget to visit the Whale Museum in September!

Integrating the financial funds of Santa Casa da Misericórdia into the state budget

From Portugal Daily View:

“The Portuguese state is also looking at an increase in revenue as it integrated the financial funds of Santa Casa da Misericórdia charity worth €425m into the state budget.”

Santa Casa da Misericordia de Lisboa (SCML) and Portuguese Gambling Laws

From onlinecasinosuite.com link: http://onlinecasinosuite.com/gambling/portugal/

Most forms of gambling are legal in Portugal, including casinos and the lottery. The state has the right to operate games of chance, which they may organize themselves or pass on the rights to a private company.

The state can also authorize games which offer non-monetary prizes. These games may not be organized by for-profit companies, except for a promotional activity like a sweepstakes.

Social games, where the profits go directly to the state, are the exclusive right of The Games Department of Santa Casa da Misericordia de Lisboa (SCML). Games which fall into this category are sports betting and the state lottery.

SCML is permitted to organize the instant lottery, lotto, sports betting and the traditional lottery. If it gets permission from the government, the SCML may also set up other lotteries. However, betting on horse racing is not in the hands of the SCML.

Games such as bingo, horse racing and casinos are allowed to operate through a contract (normally 20 to 30 years). These contracts usually restrict the game to a specific region of the country.

Wagers cannot be accepted from those deemed unable to make reasonable decisions. This includes minors and those with a reduced mental capacity.

Machine gambling outside of casinos is forbidden by law in Portugal. It is also illegal to advertise casino gambling services throughout Portugal.

Portuguese law does not consider calling a television show to gain a prize as gaming. This also extends to inexpensive prizes offered to the public on a “just for fun” basis.

The law prohibits the sale of tickets for foreign lotteries. Advertising for foreign lotteries is also banned.

The Portuguese Lottery

Queen D. Maria Pia gave approval in 1783 for Santa Casa da Misericordia de Lisboa (SCML) to conduct a lottery to benefit the royal hospital and the poor. This marked the beginning of the Portuguese National Lottery, which has also come to be known as Lotaria Nacional Santa Casa de Misericordia da Lisboa.

In 1892, the “Service of Lottery” was created, and this marked the start of the lottery operating under the name of the “Loteria Nacional.” As of this writing, it is still the only legal lottery in the country.

In 1961, SCML also gained the right to run betting games based on the outcome of football (soccer) matches. The lotto was added in 1985, and instant and break-open lotteries were added a decade later.

Initially, The National Lottery Service and The Department of Sports Betting ran the lottery (both under the umbrella of the SCML). That changed in 1991, when the operation of all games was transferred to The Games Department of Misericordia of Lisbon.

Portugal has the oldest lottery house in the world

In CAMPIAO, Portugal has the oldest lottery house in the world They have been in business for over 150 years (established in 1840). After World War II, they opened branches in every major Portuguese city. Today, they sell lotto, football lotto, classic lottery, popular lottery and instant lottery in 16 branches throughout the country.

TotoLoto – Portugal Lottery – Jogos Santa Casa The TotoLoto from Lottery Portugal is the most popular Portugal Lottery game that is particular to Portugal itself and is drawn every Saturday at 7pm. The TotoLoto is a typical jackpot lotto style game with a matrix of 6/49 + 1 and began back in 1985. The minimum jackpot to be won on the Portugal Lottery – TotoLoto – is €500,000. There is a second TotoLoto draw which takes place each week on Mondays called Lottery 2 and to take part in this is optional.

image from Diario Newspaper

Lotaria Classica – Portugal Lottery – Jogos Santa Casa The Lotaria Classica is just as its name implies – a Classic Lottery – that has origins going back to 1783 in Lottery Portugal history. The current version of the Lotaria Classica began in March 1987 and is a raffle type Portugal Lottery game with tickets that have set numbers printed on them. There is a predetermined number of Lotaria Classica tickets printed for each draw and the tickets are sold in Series at €25.00 each or fifths of Series at €5.00 each. Lotaria Classica draws take place every Monday at 7pm.

Lotaria Popular – Portugal Lottery – Jogos Santa Casa The Lotaria Popular – similar to the Lotaria Classica – has its origins going back to as far as 1783 in Lottery Portugal history. The current version of the Lotaria Popular began alongside the Lotaria Classica in March 1987 and is a raffle type Portugal Lottery game with tickets that have set numbers printed on them. There is a predetermined number of Lotaria Popular tickets printed for each draw and the tickets are sold in Series at either €2.00 or €3.00 each. Lotaria Popular draws take place every Thursday at 11.30.

TotoBola – Portugal Lottery – Jogos Santa Casa The Jogos Santa Casa – TotoBola – is a popular sports betting game from Lottery Portugal. It began in September 1961 and involves the prediction of football results from Portuguese, UK and other European football games. You will find a selection of 13 different football games for which you aim to predict a win, a draw or a defeat. There is a 14th game called Super 14 that you can also make a prediction on for no extra cost.

7 thoughts on “New De Borla store in Funchal; New Art Nouveau and Art Deco exhibition opens in Funchal; FREE exhibition Madeiran culture Machico; Integrating the financial funds of Santa Casa da Misericórdia into state budget; Portugal has the oldest lottery house in the world; Santa Casa da Misericordia de Lisboa (SCML); Portuguese Gambling Laws; Portuguese lotteries;”

  1. It’s possible that the problems in sovereign debt in Europe continue to get worse rather than better, because we are treating the wrong “disease”. Everyone has been talking about the risk of “contagion”. That makes me think of scientists working in pristine high tech labs searching for a cure, of technicians working on computer models, estimating spread patterns, and citizens walking around with face masks to stop the spread of the “disease”.

    What we have is gangrene. Doctors with leather aprons covered in blood and saws are the images that come to mind. Whether it was a genteel Confederate soldier or a grizzled Roman legionnaire, there was only one treatment. It was disfiguring and ugly, but effective. We have waited so long that the choice is no longer above or below the elbow. We have let it spread too long, things like EFSF have done nothing but let the disease spread. It is now time to amputate (let defaults occur) and begin the real process of recovery. It won’t be easy, but it is better than continuing to ignore the real problem and avoiding taking the hard, painful, but necessary steps.

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  2. Full Statement: Moody’s downgrades the Autonomous Region of Madeira to B3 from B1 (Portugal)

    Madrid, September 23, 2011 — Moody’s Investors Service has today downgraded the long-term issuer rating of the region of Madeira to B3 from B1 following concerns over the region’s poor governance and management as well as its weak budget execution. The rating action concludes a review for possible downgrade commenced on 7 July. The rating remains on review for further possible downgrade.

    RATINGS RATIONALE

    Today’s downgrade reflects Moody’s concerns over the region’s poor governance and management as well as its weak budget execution, which were heightened by the Ministry of Finance’s publication of a press release revealing “grave irregularities” in the region’s budget reporting. Madeira has failed to report around EUR1.2 billion (approximately 130% of the region’s annual revenue) in commercial liabilities over the last few years. This adds to the EUR568 million (around 65% of the region’s revenue) to be recorded in the regional deficit and debt for H1 2011, which was already announced in early September by the Portuguese Finance Minister.

    Given the magnitude of the amounts disclosed, we believe that Madeira will continue experiencing budget pressure for some time, as absorbing those liabilities into its budgets is likely to take several years. When including these unfunded liabilities in the region’s debt metrics — as these obligations will most likely have to be funded through the recourse to financial debt — Madeira’s net direct and indirect debt stock would soar to more than five times its revenue by the end of 2011. This represents a substantial increase from the already high debt ratio of roughly 380% of revenue recorded at the end of 2009 driven mainly by the significant debt of regional companies. Moreover, Moody’s notes that the region’s high funding requirements will prove difficult to fund via bonds or even long-term loans at an affordable cost, should the current market sentiment towards Portuguese issuers be further protracted, therefore rendering essential the central government’s support in resolving this matter.

    FACTORS TO BE CONSIDERED IN THE REVIEW

    Moody’s understands that Madeira has solicited the collaboration of the central government to develop a restructuring plan. The central government is currently scrutinising the region’s finances and over the next few weeks, a clearer picture of the regional accounts and that of its related companies will emerge. Thereafter, the central government is expected to propose concrete measures to redress the financial position of the region, including a timetable for it to repay its newly disclosed commercial obligations.

    Moody’s review will focus on the content of this package. We will examine the measures to be applied in order to rein in costs and bolster revenue (such as the suspension of investment programmes, scope and scale of potential tax hikes) in order to assess the implementation risks in the context of the region’s track record of poor fiscal discipline. The timeframe of this rebalancing plan and the involvement of the central government in its realisation will also be critical to our analysis

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  3. G-20 notin’ new

    GERMAN FINANCE MINISTER: MAY NEED TO REVISE 2ND GREEK BAILOUT – Dow Jones
    GERMAN FINANCE MINISTER: DOES NOT MAKE SENSE TO SPECULATE ABOUT NECESSITY FOR ADDITIONAL DECISIONS ON GREECE: RTRS
    GERMAN FINANCE MINISTER: THE RECAPITALIZATION OF EUROPEAN BANKS IS NOT A MATTER FOR THE ECB BUT FOR MEMBER STATES

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  4. Madeira Tourism website has the programme for World Tourism Day on Tuesday 27th September.

    Yesterday, I visited the Palácio de São Lourenço. Visits last 30 minutes and they provide information leaflets in various languages. Free visits around the museum area of the building and gardens can be made every Saturday at 11am, Wednesday at 10am and Friday at 3pm. You do not need to make an appointment and the entrance is on Av. Zarco (past the guard with the sword). Information (Portuguese only) and photos are on the official website of the Representante da República.

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