Casino operators in Switzerland are having a difficult time because of the shutdown from the Coronavirus. While some casinos can stay afloat from online gambling revenues, most are not in that position. Thus, Swiss Casinos says Online Gambling Revenue is Not Enough to compensate for the loss of revenue from land casinos.
According to the latest gambling industry news, the entertainment sector in Switzerland will not reopen until June 8. Thus, the 21 land casinos in Switzerland are in financial trouble because of the lack of revenue for another month. In addition, only 5 of these Swiss casinos have an online casino available to the public.
Online Casino Revenue cannot compensate for the Losses
According to Switzerland Gambling Regulators, online gambling in Switzerland is somewhat new. This is because the online gambling law just became in affect this past January. Thus, many land casinos have not been able to take advantage of it.
The Swiss online casinos that are currently live says they are getting an increase in revenue from their online casinos. However, they also said that it is only compensating for a “certain part of the lost revenue”.
Furthermore, they have many concerns about the online competition as many new overseas internet casinos are beginning to open. This is because Casino Pay Per Head providers are making it easy for new gambling operators to start their business.
Another issue made by Swiss gambling operators is that online gambling customers are different from regular casino players. Therefore, many of their land gamblers do not play at online casinos. Thus, their Online Gambling Revenue is Not Enough and cannot replace the revenue from their land casino.
On the other hand, many online sportsbooks and casinos have seen a substantial increase in visitors since the Coronavirus pandemic. However, most of their clients are taking playing online casino games since sporting events are more or less inexistent.