Full-year Swiss casino revenue falls
A modest rise in online revenue failed to compensate for the decline in Swiss casino revenue from land-based venues.
Switzerland.- Earlier in the month, Gespa, one of the country’s two gambling regulators, reported a dip in licensed lottery and sports betting sales in Switzerland in 2025. Most product categories saw year‑on‑year declines.
A couple of weeks later, the other gambling regulator, the Eidgenössische Spielbankenkommission (ESBK), which oversees casino gambling in Switzerland, has confirmed that operations under its remit also saw revenue decline in 2025.
According to the ESBK’s annual report Swiss casinos generated combined gross gaming revenue (GGR) of CHF878.5m (€950m) in 2025. That represents a 2.1 per cent decline from CHF898m in 2024. Land‑based casinos contributed CHF564.9m, down 3.9 per cent year‑on‑year, while online operations, which are tied to land-based operators, brought in CHF313.6m, a rise of 1.2 per cent.
Casino revenue contributions to federal taxes totalled CHF263.1m, also down 2.1 per cent from the previous year. Of this, CHF219.99m went to the federal government, while cantons received CHF43.08m. ESBK’s operating budget was CHF10.7m, with CHF9.36m covered by fees and fines and CHF1.35m supplemented by federal funds.
2025 marked the start of a new concession cycle running until 2044. By year’s end, Switzerland had 20 land‑based casinos and nine online operators. Among the most significant changes seen over the 12 months, Casino St. Moritz shut down owing to financial difficulties, with its licence revoked in August 2025. No re‑tender is planned before a federal review in 2028.
Casino Schaffhausen also closed permanently in October after 23 years, with staff and assets moved to Casino Winterthur. Meanwhile, Casino Davos temporarily relocated and reopened on December 15. Le Grand Casino Prilly was granted an extension to its deadline to begin operations, pushing it back until October 31 2026 due to building remediation delays.
In the Swiss online casino sector, Mendrisio launched operations in July, while Basel and Montreux terminated their online offerings citing unsustainable business models.
The ESBK also noted the expansion of the Swiss gambling exclusion register, Spielsperre since the gambling reforms in 2019. From 7 January 2025, exclusion orders have had automatic mutual recognition between Switzerland and Liechtenstein, ensuring bans apply across both jurisdictions. However, the regulator flagged shortcomings in the register’s maintenance, citing outdated or incomplete information. It has suggested that legislative changes are needed to strengthen the system.
The report also pointed to a “strong” rise in illegal online gambling during 2025, mirroring European trends. Enforcement measures included 580 domain blocks and 105 new investigations. The ESBK said it worked closely with cantonal police and prosecutors, coordinating joint operations and training, but it also called for deeper European regulatory cooperation to tackle cross‑border activity.
