Swiss Casino Revenue Declines in 2025 as Online Growth Remains Limited
Swiss Casino Revenue Falls 2.1 Percent 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 percent year on year.
- Land based casino revenue fell 3.9 percent to CHF564.9 million, while online revenue rose 1.2 percent to CHF313.6 million.
- The federal casino levy declined to CHF263.1 million, with CHF219.99 million allocated to the federal government.
- Regulators added 580 domain blocks against unauthorised gambling sites and opened 105 new investigations.
- Switzerland ended 2025 with 20 land based casinos and nine licensed online operators under a new concession cycle running to 2044.
Total Revenue Declines Despite Modest Online Increase
Switzerland’s regulated casino market closed 2025 with lower overall revenue, according to figures published by the Swiss Federal Casino Commission, known as ESBK. Total gross gaming revenue amounted to CHF878.5 million, compared with CHF898 million in 2024. The 2.1 percent decline reflects continued pressure on land based operations.
The breakdown highlights the shift within the market. Land based casinos generated CHF564.9 million, representing a 3.9 percent decrease year on year. Online casino operations reached CHF313.6 million, up 1.2 percent compared with the previous year. While digital gambling expanded, the increase was not sufficient to compensate for weaker performance in physical venues.
For users comparing regulated markets, the figures show that online gambling in Switzerland continues to grow, but at a slower pace than in earlier expansion phases following the 2019 gambling law reforms.
Lottery and Sports Betting Turnover Also Down
Separate data from Gespa, the supervisory authority for lotteries and sports betting, indicates that the broader gambling sector also recorded lower activity. Lottery and sports betting turnover declined 2.4 percent year on year to CHF3.87 billion in 2025. Gross player yield fell 3.7 percent to CHF1.203 billion.
These parallel declines across casinos, lotteries, and sports betting suggest a general contraction in regulated gambling revenue during the reporting period. For operators and users, this reflects a stable but not expanding market environment.
Federal Casino Levy and Regulatory Budget
The federal casino levy, which is derived from casino revenue, also moved lower in line with overall performance. In 2025, the levy generated CHF263.1 million, a 2.1 percent decrease compared with the previous year.
Of this amount, CHF219.99 million went to the federal government and CHF43.08 million to cantonal authorities. ESBK operated with a budget of CHF10.7 million. Fees and fines contributed CHF9.36 million, while CHF1.35 million was provided by the federal treasury.
These figures underline the fiscal role of licensed casinos within Switzerland’s public finance structure, where gambling revenue supports both federal and cantonal budgets.
New Concession Cycle and Changes in Casino Operations
The 2025 results mark the first year of Switzerland’s new concession cycle, which runs through 2044. The Federal Council had granted new agreements to all casinos in 2024, making 2025 the first year in which operators functioned under the updated long term framework.
By the end of the year, Switzerland had 20 land based casinos and nine online operators.
Several structural changes occurred during the year. Casino St. Moritz closed in April due to financial difficulties. ESBK revoked its concession in August, and the licence will not be re tendered before a federal review scheduled for 2028. Casino Schaffhausen ceased operations in October after 23 years, with Casino Winterthur absorbing its staff and assets.
Casino Davos temporarily closed to relocate and reopened on 15 December after passing a regulatory inspection.
Online licensing also saw adjustments. Mendrisio launched online gambling in July 2025. Casino Basel and Casino Montreux exited the online segment after determining that operations were not financially sustainable, leading to the revocation of their licence extensions. Prilly received an extension until 31 October 2026 to begin online operations due to unexpected building remediation work.
For users assessing market availability, these changes clarify which operators remain active both offline and online under the new concession period.
Regulatory Action Against Illegal Online Gambling
ESBK reported a strong rise in unauthorised online gambling activity during 2025. In response, the regulator added 580 domain blocks targeting illegal gambling websites and opened 105 new investigations.
Swiss law permits access blocking when gambling sites target Swiss users without holding a domestic licence or when operators conceal their location while operating from abroad. ESBK cooperated with cantonal police and public prosecutors through joint operations and training initiatives.
The commission also called for closer cooperation between European regulators, noting that unauthorised gambling websites often operate across borders more quickly than national enforcement systems can respond.
For international users, this enforcement activity is relevant because it affects which platforms remain accessible within Switzerland and underlines the distinction between licensed domestic operators and offshore sites.
Player Exclusion Register and Cross Border Recognition
Player protection remained a focus area. Registrations in Switzerland’s nationwide exclusion register, known as Spielsperre, have increased each year since the 2019 reforms.
From 7 January 2025, Switzerland and Liechtenstein began automatic mutual recognition of gambling exclusion orders. This means that exclusion decisions in one jurisdiction are recognised in the other.
However, ESBK identified weaknesses in the current 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.
Our Assessment
The 2025 data show a regulated Swiss casino market experiencing a moderate revenue decline, driven primarily by weaker land based performance. Online gambling continued to grow, but at a limited rate. At the same time, authorities managed structural changes under a new concession cycle, intensified enforcement against unauthorised online operators, and reviewed player protection mechanisms. Together, these developments define the current operating environment for licensed casinos and online gambling providers in Switzerland.
