Swiss casinos post profit after years of losses

The Swiss Federation of Casinos has announced that land-based gaming venues in the country recorded a profit in 2016 for the first time in almost a decade.

Overall gross profit from 21 brick-and-mortar casinos in the country amounted to CHF689m (€634.7m/$710.1m) in 2016, up 1.2% on the previous year.

The result represents the first yearly increase in casino profit since 2007, with a total of 12 casinos reporting year-on-year gains and suffering losses.

However, despite the rise in profit, the amount is some way short of the record CHF769m that was generated in 2004 – the first year of legalised gambling in Switzerland.

Online gaming is yet to be legalised in the country, although politicians this year passed legalisation that would allow local casino operators in Switzerland to launch and run internet gambling websites.

In preparation for the expected legalisation, Swiss parliament recently voted in favour of a measure that requires internet service providers in the country to block access to illegal gambling websites.

Related article: Switzerland approves blocking of illegal gambling websites