Liechtenstein’s two casinos combined to bring in CHF53.5m (£43.5m/€48.9m/$53.6m) in 2018, its first full year with casinos, according to the Department of Economic Affairs’ annual report.
Casino Admiral, which operates a casino based in Ruggell close to the Swiss border and opened in August 2017, took in the majority of revenue at CHF 34.8m, up 200% from 2017. With a 37.03% effective tax rate and a CHF300,000 license fee, the casino paid CHF13.2m into the principality’s treasury for the year.
Casinos Austria, which operates Casino Schaanwald Liechtenstein, a casino located about 400 metres from the Austrian border that opened in October 2017, took in CHF 18.7m in revenue after taking in CHF 2.7m in 2017. Paying a 34.5% effective tax rate and the same CHF 300,000 license fee, the casino paid CHF 6.7m into Liechtenstein’s treasury, meaning the two casinos combined to pay CHF 19.9m in gambling taxes and fees.
The department’s report said that there were many reasons for the high revenue figures, including the ability to attract players from a large area.
“The reasons for the rapid growth are manifold,” the report said. “Both casinos have attracted players from Bad Ragaz, St. Gallen and Bregenz; the lack of smoking and the entrepreneur-friendly legislation that allows the most technically advanced GSA to be offered also contributed to its success. Market surveys conducted by the casinos also revealed that the catchment area for the casinos in Liechtenstein is significantly larger than expected.”
Lottery revenue, from Swiss lottery company Swisslos, however, declined 2% to CHF 2m.
Department of Economic Affairs said it inspected both casinos during the year and that the results of the inspections were generally positive, though recommendations were made in order to improve employee documentation.