Switzerland – Another rough year for casino operationsBy Lewis - 22 July 2014
It’s been another tough year for casino operators in Switzerland according to the latest financial report from the industry. In total the country’s 21 casinos generated 746.2m Swiss francs in 2013 from gambling. Compared to the previous year, the gross gaming revenue fell by 11.3m Swiss francs, having already seen a fall from 2011-12 of eight per cent.
According to Switzerland’s Federal Gaming Board, much of the decrease has been attributed to competition from neighbouring countries and the growing range of online gaming options for players. The decline, however, would be greater still without the new casinos in Zurich and Neuchatel, which opened in late 2012. These would be able to almost fully compensate for the declining revenues, writes the FGB.
Typically, the largest proportion of revenue generated came from slot machines. Slots were responsible for 604.6 million francs of revenue in 2013, 17 million less than last year. However, table games bucked the trend across the casinos, generating 141.5m francs, 5.7 million more than last year.
Together the casinos paid casino tax amounting to 356.5m francs in 2013, which represents a decline of tax revenues of 17.1m Swiss francs. 305m francs were to AHV (the Swiss pension fund), 51.5m francs to the siting cantons of B-casinos.
While the two new casinos have helped to balance the figures for the government, the FGB maintains that the existing Swiss licences have suffered major losses as a result of the opening of new casinos in Zurich and Neuchâtel. The casino in Zurich generated gross gaming revenue of CHF 61m, while Neuchâtel recorded 19.3m francs.