Swiss Casino Association Publishes 2023 Annual Report: Expanded Membership and Growing Online Revenue Yield Favorable Outcomes
Swiss Casinos: A Tale of Two Markets
In the vibrant landscape of Swiss gambling, two distinct stories are unfolding. While traditional terrestrial casinos experience a slight decline in revenue, the digital realm is thriving, defying the presence of a significant black market.
A Decline in Terrestrial Casinos
The gross gaming revenue (GGR) in Swiss stationary casinos decreased by 1.1% to 622.9 million CHF in 2023 compared to 2022. This decline can be attributed to several factors.
Competition from online gambling is a significant factor. The convenience, variety, and accessibility offered by digital platforms have drawn many players away from physical casinos. This dynamic is common globally, where digital gaming growth often impacts traditional venues.
Strict regulations and licensing requirements in Switzerland can also constrain physical casinos, limiting their operational flexibility compared to some online operators. The younger demographic's preference for mobile and online platforms is another factor reducing foot traffic in terrestrial casinos.
Economic factors may also play a role. Broader economic pressures or shifts in disposable income can affect casino visitation and spend, reflected in revenues.
Growth in Swiss Online Casinos
Despite a significant black market share, Swiss online casinos are growing due to a regulated legal framework, technological accessibility, and increased consumer acceptance of online gambling.
Robust regulation and licensing, such as the Swiss law amendments since 2019, permit licensed online casinos, offering a legal alternative to unregulated operators. This builds player trust and ensures consumer protections, encouraging migration from illicit platforms.
Increasing internet penetration and mobile device usage in Switzerland enable easier access to legal online gambling offerings. Licensed platforms provide secure payment methods and responsible gambling features, drawing users away from riskier black market sites.
Market awareness and marketing are also key drivers. Legal operators can advertise and promote their platforms openly, raising brand awareness that counters black market activity.
Notable Developments
In the online casino sector, mycasino.ch, the online offering of the casino in Lucerne, has the highest GGR of any Swiss casino, with 95 million CHF. Despite high growth rates, Goldengrand.ch, 7melons.ch, and GAMRFIRST.ch still rank at the bottom in terms of total revenue.
Two new casinos, Locarno and St. Moritz, will enter the online business, increasing the number of online providers to 12. However, it is not yet known under which website these offers will be available.
The Swiss Casino Association, which now includes Swiss Casinos with four locations, has warned of the dangers of illegal gambling and emphasized the importance of joint action by licensed providers in this context. The Association has also expressed satisfaction with the decision of the Federal Council, stating that today's casinos guarantee a safe and responsible operation and generate a significant economic benefit in their region.
The Federal Council has granted all gambling licenses issued from 2025, ensuring 20 years of planning security for existing and new locations. From 2025, the number of stationary gambling locations will increase to 22, as the location in Schaffhausen will close, but a new casino will open in Prilly (near Lausanne) and Winterthur.
[1] [https://www.statista.com/statistics/1121499/online-gambling-market-size-switzerland/] [2] [https://www.statista.com/statistics/1121500/online-gambling-market-revenue-switzerland/] [3] [https://www.statista.com/statistics/1121503/online-gambling-market-revenue-growth-switzerland/]
- What about the future of terrestrial casinos in Switzerland? Could it be that their decline will continue with the rise of online alternatives?
- The finance and investing scene in the Swiss gambling industry appears to be shifting towards online platforms, posing challenges for traditional brick-and-mortar casinos.
- As for wealth management, might the increasing preference for online casinos influence the way Swiss banks and insurance companies approach gambling-related services?
- In the field of personal finance, is the rise of online casinos prompting consumers to reconsider their spending habits and reprioritize savings?
- The growth of the online casino industry in Switzerland is not only about finances but also about employment, with the job market expanding to accommodate new roles related to fintech, software development, and online marketing.
- The education and self-development sphere may also need to adapt to this changing landscape, with a potential rise in skills training for careers in online casino operations, customer support, and responsible gambling practices.
- Is casino culture undergoing a transformation as more people turn to online gambling, and will this affect the way casinos and their personalities are perceived within society?
- Could the growing online gambling industry drive shifts in career development paths, with job seekers exploring opportunities in this sector as alternatives to more traditional professions?
- Amidst the growth of online casinos, responsible gambling remains a crucial issue. How can Switzerland address responsible gambling trends to minimize the risks associated with online gaming?
- With the surge of online gambling, casino-related businesses must ensure they uphold high standards of ethical conduct to maintain a positive and sustainable casino culture in the digital age.
