On January 24, World Radio Switzerland has announced that Zurich is to become the host of the largest casino in Switzerland. Its backer, who plans to name it Casino Royal, is Detlef Brose, a tradition and internet gambling mogul as well as the owner of the Grand Casino in Baden, Canton Aargau. Reporters were told that the casino is due to open in 2015 and in set to bring around 146 million francs ($153 million US) yearly in revenues.
Detlef Brose stated that the anticipated return from the Royal Casino in Zurch is expected to be around 50 percent more than his Grand Casino property in Baden.
The development of the new casino comes during the period when casino revenues in Switzerland are falling. The Grand Casino in Baden has been earning around 10 million francs less in 2010 than in the previous year. Such a trend makes analysts wonder what information Detlef Brose posses that makes him continue to be Bullish on the Swiss casino industry.
Brose holds responsible the draconian Swiss gambling laws which forbid smoking within casinos and the weakened Euro for the drop in casino revenues. He also blames a large jackpot won last year at Grand Casino in Baden, which had to be paid out. He called the jackpot – ‘one of the risks of the gaming industry’.
Online casino in Switzerland are currently illegal, so gamblers are forced to use foreign online and mobile casinos. According to a recent survey, up to 20 percent of the population consider themselves frequent gamblers.