Gambling revenue decline slams Switzerland
Posted: May 10, 2010
Updated: October 4, 2017
Switzerland can be considered a bit of a rookie when it comes to the gambling industry and a few kinks are still
Switzerland can be considered a bit of a rookie when it comes to the gambling industry and a few kinks are still being worked out of the system. All gambling within the financially powerful nation was prohibited between the years 1921 and 1993, cutting back significantly on their opportunities for experience.
The casinos and gambling institutions which are in operation these days are very well regulated and according to Swiss gambling law, games of chance are not permitted outside of them. Despite its being relatively new within the country, the Swiss are very fond of gambling.
Unfortunately, the Swiss met with a few drawbacks in the gambling industry this year. They suffered a big loss when there was a casino burglary on the border just a few months ago. Outside of that, casino and gambling revenue dropped a massive 5% over the last year.
The loss of revenue can be attributed to a few different things. First of all, a smoking ban was enforced within casinos over the last year, and the Swiss believe that this may have driven away many of their regulars. On top of that, the armed casino robbery may have scared off a few guests and stirred the wrong impression about casino in the eye of the public.
The last possible reasons behind loss in revenue could be attributed to internet gambling in Switzerland and overall economic recession. Many of the nation’s residents may prefer playing at online casinos in Switzerland as opposed to going out to the actual brick-and-mortar facilities.
Whatever the cause may be, the Swiss will likely be looking towards the horizon for better betting revenue within the next year. The extra cash is used towards good causes and it would be a shame for things to fall to shambles.