Paulo Sousa, in an interview, detailed the findings of the current board regarding the international operations of the social games, revealing a significant number of companies across various territories without commercial activity.
Sousa noted existing “litigious relations with selected partners,” leading to legal issues spanning labor, fiscal, and commercial domains.
“In practice, there was no standard commercial activity being carried out. Therefore, the objective we proposed to the overseer was a controlled withdrawal process, which we are attempting to execute,” said Sousa.
The provider highlighted that this objective was clear when the restructuring plan of Santa Casa was presented to the Ministry of Labor, Solidarity, and Social Security, further noting the recent approval of a “detailed plan for divestment in the international gaming sector.”
While refusing to “anticipate values,” Sousa justified that it would be “premature,” indicating a preference for negotiation in certain partnerships.
“The final outcome depends on the success of those negotiations and the values that may be agreed upon. There are numerous significant variables that cannot be clearly identified at this moment,” Sousa stated.
Sousa assured that whenever an “expected and materially relevant loss” is identified, Santa Casa da Misericórdia de Lisboa (SCML) will adopt a policy of establishing impairments and provisions to fully cover that loss.
“I cannot specify a [loss value]. I can say we are progressing with the process to dissolve and eventually liquidate the companies in which we held stakes,” Sousa remarked.
Sousa added that the liquidation process is underway in some subsidiaries, citing Santa Casa Global Mozambique as an example. This entity was established even though Santa Casa holds stakes in Só Jogo Moçambique, managing social games in the country.
“This company is being dissolved and will be liquidated. It’s a phased process, as for us, it didn’t align with the project in that territory,” Sousa explained.
Sousa indicated this approach would extend to Brazil, Peru, and “all other locations” where Santa Casa Global had a presence.
He mentioned that three companies are “already in the very final phase,” but “many more are yet to follow.”
“Ultimately, only the companies involved in European gaming, such as Euromillions and EuroDream, under SLE, a partnership with Française des Jouex in France, and Só Jogo in Mozambique will remain,” assured Sousa.
Regarding the choice to internationalize social games as a diversification strategy, Sousa admitted there were many unsuccessful experiences, particularly in Brazil, but suggested future focus on markets with regulated gaming activities.
Sousa stressed that any future internationalization projects must align with competencies, including management methodologies, expansion projects, or corporate governance models. However, the current priority is “minimizing the loss in this project” and concentrating expertise on social games.
Sousa also mentioned the goal to disinvest in areas like real estate or stakes, exemplifying with an investment in the CUF Belém Hospital partnership, which had not yielded financial returns.
