The world has become a digital playground where everything we do can be done, found, and now exists online. Even those who haven’t yet completely embraced the online way of life are making moves to shift their focus to a digital way of thinking.
Unfortunately, that does mean that there will be consequences for those not in the digital space.
Eighth year of decline
The steady decline of land-based casino revenue is not a new revelation. When land-based casino operators in Switzerland announced recently that their 2015 revenues were down by 4% (a staggering loss of €681 million), it was no surprise.
The first slip down the revenue scale started in 2007 and doesn’t seem to be slowing down any time soon. What could be the cause of this loss of revenue? Land casino operators have theories of their own and they all point to the world of online gambling.
Online gambling to blame
The prevalence of online gambling, illegal online gambling clubs and new gambling halls are all being blamed for the decline of business in land-based casinos.
Since 2007 land casinos have reported a total revenue loss of 33% which has led to 40% fewer payments being made to the Swiss government’s Old-Age and Survivors’ Insurance. Land casino operators are insisting that laws throughout Switzerland be more controlled and that illegal online gambling operations be banned entirely.
In order to compete with the offerings that online casinos have to give, land-based casinos are also pushing for the rights to offer sports betting, skill game promotions, and lotteries.
New laws in the making
Lawmakers are working on a new gambling law, of which the framework has already been approved by the Federal Assembly and is now being considered by the parliament.
The new law is said to make provision for poker tournaments that are held outside of land casinos. Operators are calling for these third party activities to be strictly regulated.
Pleased with the draft, land casino operators are pushing for a further refinement of certain laws with the hopes of protecting their businesses. The new gambling laws are expected to be implemented later this year.