The Shutdown of the Casino St. Moritz: A Suddenly Shuttered Gambling Haven
St Moritz Casino Shuts Down: Austrian Investor Withdraws, Causing Revocation of Gambling License
In an unexpected turn of events, the Casino St. Moritz, nestled in the glitzy ski resort of St. Moritz, dramatically closed its doors on April 29, 2025. The casino's 31 employees were left jobless, as the establishment ceased operations without warning, reported SRF. Operating since 2003, this Swiss casino, perched at lofty 1,833 meters, sadly succumbed to economic pressures.
Pulling the Plug: Casinos Austria Calls it Quits
The mastermind behind the casino's demise is the investor themselves - Casinos Austria AG. Unexpectedly terminating all financial support, the business operations ceased immediately. Interestingly, this decision came just a few months after the Casino St. Moritz managed to secure a license extension and the option to delve into online gambling. Sadly, it appears the ambitious endeavor to hold onto the license post-investor's exit is now all but lost, with the Swiss Federal Gaming Commission (SFGC) already in the process of revoking the concession.
Casino Austria Facing a Tumultuous Tide
The troubles of Casinos Austria AG seem to be piling up. Faced with a difficult market landscape, the company has seen losses in Germany, where it was defeated in a lawsuit to prevent the takeover of all ten locations by the Merkur Group. In Austria, they are grappling with a new political climate characterized by stricter gambling monopolies and hefty tax increases.
In a letter to government parties, Casino Austria hinted at the potential closure of up to 40% of locations if the current policies remain unchanged. Although major changes to the market do not seem imminent at present, the future still holds concerns for the company.
The Road Ahead for the SFGC
With 22 stationary casino licenses lasting from 2025 to 2044 and 12 new online casino licenses in Switzerland, revenues from gambling are earmarked for the Swiss pension system. As such, it's likely that the St. Moritz location will be taken over by another operator when the dust settles.
The SFGC has already initiated explorations for a possible future casino in the South Switzerland region. Potential suitors for the lucrative St. Moritz location may include companies that were unsuccessful in securing a license in the past, given the presumably affluent clientele of this premium destination.
However, competition for such prized locations was scarce in the last licensing round. Regardless, it's an exciting time as we wait to see whether a new operator will breathe life back into the closed Casino St. Moritz or if a fresh location will emerge on the Swiss casino map.
Bracing for Repurposing and Reinvention
As the swanky St. Moritz setting boasts popular attractions such as Lake St. Moritz and top-tier hotels like the Kempinski Grand Hotel des Bains, the Casino St. Moritz site could serve as an attractive opportunity for redevelopment. Options such as a boutique hotel, high-end retail center, or event space could all be possibilities, although no official decisions have been made yet.
As the Casino St. Moritz prepares for its post-gambling future, the Swiss Federal Gaming Commission and interested parties are left to speculate on the establishment's next move. Whether it's reopening with fresh leadership or opening its doors to a different kind of enterprise, only time will tell.
- "What could be the next move for the Casino St. Moritz after its sudden closure? Could it be reopening with new leadership, or perhaps transitioning into a boutique hotel, high-end retail center, or event space?"
- "Angela, a potential investor, might be interested in the lucrative St. Moritz location, given the affluent clientele of this premium destination, but she was unsuccessful in securing a license in the past."
- "Moritz, a former casino employee, is now jobless due to the shutdown of Casino St. Moritz, and he's questioning the offer made by Casinos Austria AG for the employee severance packages."
- "In a letter to government parties, Casinos Austria hinted at the potential closure of up to 40% of locations if the current policies remain unchanged, a situation that raises concerns for casino personalities like Moritz."
- "The Casino-and-gambling culture of St. Moritz, which attracts a number of casino-games enthusiasts, will now be stationary until a new operator is found to breathe life back into the establishment."
