Swiss casinos report a decrease in revenue

Casino operators call for legislative updates.

For the eighth year in a row, Swiss casinos saw decrease in revenue year-on-year.

Switzerland.- For the eighth year in a row, Swiss casino owners reported a decrease in revenue year-on-year, while calls for legislative updates abound among Swiss casino operators. The latest drop for 2015 was 4 percent year-on-year, to a new value of CHF 681 million (US$702 million) for 2015.

Back in 2007, Swiss casino businesses reported yearly decreases of up to CHF300 million (US$309 million,) losing ground in the form of competitive business revenue to foreign internet casinos, illegal gambling clubs and new gambling halls in adjacent countries. The total hit for casino revenues since 2007 is now at a decrease of 33 percent, resulting in 40 percent fewer payments to the Swiss OASI pensions system and cantons (Swiss states.)

The Swiss casino association is convinced that a new gambling law will address the trend. The law is set to pass this year and it will supposedly improve conditions for the competitiveness of Swiss market casino owners online in a country where internet casinos such as like Royal Vegas, EUCasino and All Slots are already popular among Swiss players.

The association is still waiting for a formal legislative ban on illegal online gambling. Swiss casino owners are further pushing for a basic framework for competitive and attractive business conditions favourable to Swiss operators.

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