[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

Operator News

Switzerland – Grand Casino Luzern the top earning casino in Switzerland

By - 25 May 2022

The Grand Casino Luzern Group has landed the accolade of being the top earning casino in Switzerland, with a gross gaming income of CHF 92.89m in 2021.

Thanks to a strong increase in earnings, mycasino, which belongs to the group, consolidated its leading position among Swiss online casinos with significantly increased operating income and corporate profit in 2021.

All Swiss casinos must apply for new licences. In this context, the Grand Casino Luzern wants to renew the combined concession for the casino in Lucerne and the online casino mycasino by 2044 and also open up new markets with Valais a region that has already been earmarked.

Swiss casinos paid casino levies of over CHF 272m in 2021. The largest contribution came from the Grand Casino Luzern: it has transferred CHF 43.35m to the AHV. Over the past 20 years, a total of more than CHF430m has flowed from the Grand Casino Luzern into the AHV fund. In addition to these levies, casinos at their locations pay decent profit taxes for businesses.

The pandemic and government-mandated measures have hit all land-based casinos hard economically over the past two years. In 2021, the casino in Lucerne had to remain closed for 108 days. The restaurant Olivo even had 150 closing days. Throughout the year, there were numerous other restrictions.

The gradual lifting of the measures ordered by the authorities led to a slow recovery of land-based businesses. The personal atmosphere, the good service and the real social contacts are becoming more important again. The Grand Casino in Lucerne with its attractive restaurants, events and events will regain its economic strength in the medium term.

At the same time, there are further development opportunities in the online casino. mycasino is already the largest and most innovative online casino in Switzerland: Almost a third of all online sales in Switzerland last year went through mycasino.

The online casino mycasino was able to almost compensate for the lower numbers in the land-based Grand Casino Lucerne in 2021. Mycasino’s gross gaming revenue rose by 7.7 per cent to CHF 74.34m. On the other hand, due to the many closing days in the traditional casino, the income fell by 25 per cent to 18.55m Swiss francs. Overall, the combined gross gaming revenue amounted to CHF 92.89m, one per cent lower than in the previous year.

The Grand Casino Luzern Group’s operating profit before interest and taxes (EBIT) improved to 312,108 francs (2020: minus 153,510 francs) and consolidated net income to 80,163 francs (2020: minus 343,886 francs). Kursaal-Casino AG Luzern increased its operating income by 9.8 per cent to CHF 4.25m and its net profit to CHF 397,475 (previous year: CHF 8,497m).

The Board of Directors intends to involve the shareholders in the overall development of the company in an appropriate manner. It will propose to the Annual General Meeting on 14 June in Lucerne the distribution of a dividend of six francs per registered share and profit participation certificate.

All concessions of the existing casinos will expire at the end of 2024. The Federal Council will re-award the permits for the next 20 years in one year. On the one hand, the Grand Casino Luzern wants to renew the existing concession for the land-based casino in Lucerne and the associated online casino mycasino. On the other hand, it is seeking an additional concession for a casino in the Valais cantonal capital of Sion, which is being developed with a regional partner.

Share via
Copy link