Swiss Casino Revenue Down 2.1% in 2025 as Land Based Decline Continues
Swiss Casino Revenue Falls 2.1% in 2025 – Online Growth Fails to Offset Land Based Decline
Key Takeaways
- Total Swiss casino gross gaming revenue reached CHF878.5 million in 2025, down 2.1% year on year.
- Land based revenue fell 3.9% to CHF564.9 million, while online revenue rose 1.2% to CHF313.6 million.
- The federal casino levy generated CHF263.1 million, also down 2.1% from the previous year.
- Regulators blocked 580 illegal gambling domains and opened 105 new investigations in 2025.
- Several casinos closed or changed status during the first year of the new concession cycle running to 2044.
Total Casino Revenue Declines Despite Online Growth
Switzerland’s licensed casinos reported lower overall revenue in 2025, according to new figures from the Swiss Federal Casino Commission, known as ESBK. Total gross gaming revenue reached CHF878.5 million, compared with CHF898 million in 2024. This represents a 2.1% year on year decrease.
The revenue split highlights diverging trends between retail and digital operations. Land based casinos generated CHF564.9 million, a 3.9% decline from the previous year. Online casino operations produced CHF313.6 million, marking a 1.2% increase. The online segment therefore continued to grow, but not at a pace sufficient to compensate for the contraction in physical venues.
Separate data from Gespa, the Swiss regulator responsible for lotteries and sports betting, showed similar pressure across other regulated gambling verticals. Lottery and sports betting turnover declined by 2.4% to CHF3.87 billion in 2025. Gross player yield in that segment fell 3.7% to CHF1.203 billion.
For users comparing online and land based gambling markets, the figures show that digital expansion in Switzerland remains moderate and does not currently offset declines in traditional casino activity.
Federal Casino Levy and Regulatory Budget
The decline in gross gaming revenue translated into lower proceeds for the federal casino levy. In 2025, the levy generated CHF263.1 million, down 2.1% year on year.
Of this amount, the federal government received CHF219.99 million, while cantonal authorities received CHF43.08 million. ESBK reported that it operated with a budget of CHF10.7 million. Fees and fines covered CHF9.36 million of that total, with CHF1.35 million funded by the federal treasury.
These figures are relevant if you monitor how gambling revenues contribute to public finances. In Switzerland, casino levies represent a defined income stream for both federal and cantonal authorities, directly linked to sector performance.
First Year of New Concession Cycle Brings Market Changes
The 2025 results mark the first year of Switzerland’s new concession cycle, which runs through 2044. The Swiss Federal Council granted new agreements to all casinos in 2024, setting the regulatory framework for the coming decades.
By the end of 2025, Switzerland counted 20 land based casinos and nine licensed online operators. However, several operators changed status during the year.
Casino St. Moritz closed in April due to financial problems. ESBK revoked its concession in August. The licence will not be re tendered before a federal review scheduled for 2028.
Casino Schaffhausen ceased operations in October after 23 years in business. Casino Winterthur absorbed its staff and assets.
Casino Davos temporarily closed in order to relocate. It reopened on 15 December after passing a regulatory inspection.
Online operations also saw movement. Mendrisio launched online gambling in July 2025. In contrast, Casino Basel and Casino Montreux withdrew from the online market after concluding that the business was not financially sustainable. Their licence extensions were subsequently revoked.
Casino Prilly received an extension until 31 October 2026 to launch online operations due to unexpected building remediation work.
For users evaluating platform availability, these changes mean that the number of licensed online operators remains limited, and market entry or exit decisions continue to shape the competitive landscape.
Regulator Intensifies Action Against Illegal Online Gambling
ESBK reported a significant rise in unauthorised online gambling activity in 2025. The regulator added 580 domain blocks targeting websites that offered gambling services in Switzerland without a licence or operated from abroad while concealing their location.
In total, 105 new investigations were opened during the year. Swiss law permits access blocking when operators target Swiss players without authorisation.
ESBK worked with cantonal police and prosecutors through joint operations and training initiatives. The commission also called for stronger cooperation between European regulators, noting that illegal gambling websites often operate across borders and adapt faster than national enforcement systems.
For players and platform users, enforcement activity directly affects site accessibility. Domain blocking and investigations can limit access to offshore operators that do not hold a Swiss licence.
Player Exclusion Register Expands but Gaps Remain
Player protection measures also remained in focus. Registrations in Switzerland’s nationwide exclusion register, known as Spielsperre, have increased each year since the 2019 gambling law reforms.
From 7 January 2025, Switzerland and Liechtenstein began automatically recognising each other’s gambling exclusion orders. This means that exclusion decisions in one jurisdiction now apply in the other.
However, ESBK identified weaknesses in the system. Some information in the exclusion register was described as outdated or insufficient to reflect current player risk. The commission stated that amendments to the federal money games law or its ordinance may be required to improve the effectiveness of the register.
These developments are relevant if you rely on national safeguards and cross border exclusion systems when assessing regulated markets.
Our Assessment
The 2025 data show that Switzerland’s casino market remains stable but under pressure. A moderate increase in online revenue did not offset declining land based income, resulting in a 2.1% overall revenue drop. The first year of the new concession cycle brought closures, licence adjustments, and continued consolidation among operators. At the same time, regulators intensified action against illegal online gambling and reviewed the effectiveness of player protection tools. Together, these elements define the current operating environment for licensed casinos and online platforms in Switzerland.
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