Turnover in Liechtenstein casinos in free fall

Turnover in Liechtenstein casinos has plummeted since the start of the new year. According to industry information, revenue has fallen by up to 85% since January 7, 2025. But what is the reason for the sudden slump in revenue and what does this mean for the future of casinos in Liechtenstein?

We at GambleJoe have already reported several times on the development of the gambling industry in Liechtenstein. Back in spring 2021, we asked ourselves whether Liechtenstein is the Las Vegas of Europe. In the meantime, there were even six casinos available for the approximately 40,000 inhabitants of the Principality. The situation has since changed, and we reported on the first casino closures in Liechtenstein last summer. Since the beginning of 2025, however, the situation for casinos in the Principality has become even more threatening.

Cross-border player bans for Swiss visitors cause turnover to plummet

On January 7, 2025, an agreement between Liechtenstein and Switzerland came into force, according to which a blocking data exchange now takes place between the two countries. This means that a player banned in Switzerland can no longer play in neighboring Liechtenstein. The new agreement obviously has catastrophic consequences for turnover in Liechtenstein casinos. This is because visitors from Switzerland were an extremely important target group for Liechtenstein casinos.

According to industry figures, gross gaming revenues have already plummeted by up to 85% since the agreement came into force on January 7. Beforehand, it had been assumed that turnover would "only" fall by around 30 %. According to Liechtenstein association president Markus Kaufmann, the casinos in Liechtenstein have been completely deprived of their business basis by the new agreement. Accordingly, the agreement is tantamount to a de facto casino ban in Liechtenstein and the casinos in the Principality are no longer viable. Back in summer 2023, we asked ourselves how player protection works in Liechtenstein.

Banned players from Switzerland can play in Germany without any problems

In Liechtenstein, there is particular criticism of the fact that the new agreement on the exchange of banned data only applies to Switzerland and Liechtenstein. Accordingly, a player blocked in Switzerland (and Liechtenstein) can play in neighboring Germany without any restrictions. The casinos in Bregenz, Lindau and Constance in particular are located in the border area, meaning that they can be reached by players from Liechtenstein or Switzerland within a short space of time.

The Liechtenstein Gaming Association believes that political action is now urgently required. Most recently, state revenue from the gambling levy in the Principality amounted to over 50 million francs. If the basic conditions are not changed, there is unlikely to be much of this amount left in the future, which would lead to considerable economic damage for the small Principality of Liechtenstein. In addition, the jobs of around 400 employees currently working directly in Liechtenstein casinos are in acute danger. At the beginning of last year, Liechtenstein decided not to issue any licenses for online casinos until 2028.

Source of the image: https://pixabay.com/de/photos/liechtenstein-stadt-architektur-176116/