SWISS LAND CASINO OWNERS BLAME ONLINE GAMBLING FOR POOR PERFORMANCE
21st March, 2016 at 09:56:42
For the eighth consecutive year revenues declined in 2015.
Swiss land casino operators claimed this week that 2015 revenues were down 4% at Swiss francs 681 million - the eighth year in a row that performance has slipped.
According to local media reports the negative trend has persisted since 2007, with operators blaming the availability of online gambling, illegal gambling clubs and new gambling halls in adjacent countries for annual declines of up to Swiss francs 300 million.
Land operators in Switzerland report that revenues have decreased by 33% since 2007, leading to 40% fewer payments to the Swiss government's Old-Age and Survivors' Insurance.
Legislators are currently working on a new gambling law which is expected to come into effect later this year. The legislative framework was approved by the Federal Assembly late last year and is now in parliament for further consideration. The land gambling industry is reportedly pleased with the draft proposals, but anticipates further refinement of the provisions.
The Swiss land casino sector has asked for an enforceable ban on illegal online casino activity, claiming that a lack of consumer protections place Swiss internet punters at risk, and that online operators contribute nothing to OASI or the Swiss provincial governments.
Land operators also want to be empowered to offer sports betting and skill game competitions as well as lottery products.
The new law has provision for third parties (outside the land casinos) to host poker tournaments, an element which casino owners want to see regulated to the same strict standards as their operations...and they do not want to see nightly "poker bar" action in the market.
Related News Tags: Land Casinos, Lotteries