Switzerland’s casinos generated combined gross gaming revenue (GGR) of CHF878.5m (€950m) in 2025, a 2.1% decline from CHF898m in 2024, according to the Eidgenössische Spielbankenkommission (ESBK), the federal body that regulates casino gambling in Switzerland.
Land-based venues bore the brunt. Physical casinos brought in CHF564.9m, down 3.9% year on year, while online operations, which are licensed exclusively through land-based operators, produced CHF313.6m, up 1.2%. The online gain was not enough to offset the retail fall.
The ESBK results follow a separate report published earlier in June by Gespa, Switzerland’s lottery and sports betting regulator, which confirmed a dip in licensed sales across most product categories in 2025. The two reports together reflect declining regulated gambling revenue across all major verticals in Switzerland last year.
Tax contributions
Casino gaming contributed CHF263.1m to public funds in 2025, also down 2.1% year on year. Of that total, CHF219.99m went to the federal government and CHF43.08m to the cantons. The ESBK ran its operations on a budget of CHF10.7m: CHF9.36m came from fees and fines, and CHF1.35m from federal funds.
A year of consolidation
2025 marked the start of a new concession cycle running to 2044, Switzerland’s first long-term licensing window for casinos. By year-end, the market comprised 20 licensed land-based casinos and nine online operators. Activity over the 12 months included notable closures and delays.
Casino St. Moritz ceased operations due to financial difficulties, with its licence revoked in August. No re-tender is planned before a federal review in 2028. Casino Schaffhausen closed permanently in October after 23 years, with staff and assets transferred to Casino Winterthur. Casino Davos temporarily relocated and reopened on December 15. Grand Casino Prilly, which had not yet begun operations, received a deadline extension to October 31, 2026, owing to building remediation delays.
In online, Mendrisio launched in July. Basel and Montreux shut their platforms down, citing unsustainable business models. Nine online operators remained active at year-end: one launched, two exited over the course of the year.
Exclusion register
From January 7, 2025, Switzerland’s gambling exclusion register, Spielsperre, gained mutual recognition with Liechtenstein. Bans registered in either jurisdiction now automatically apply in the other, extending the reach of exclusion orders across borders for the first time.
The ESBK flagged shortcomings in how the register is maintained. Entries are described as outdated and incomplete, limiting the practical effect of the new mutual recognition arrangement. The regulator has called for legislative changes to put the system on a more reliable footing.
Illegal gambling and enforcement
The ESBK described a “strong” rise in illegal online gambling activity in 2025, consistent with patterns documented across Europe and beyond. The regulator issued 580 domain blocks and opened 105 new investigations over the year. Enforcement involved coordination with cantonal police and prosecutors on joint operations and training.
As with other European regulators, the ESBK pointed to the limits of national enforcement against activity that crosses borders. It called for deeper cooperation with European counterparts, a consistent theme in European regulatory frameworks in 2025. Whether Switzerland, as a non-EU member, can access meaningful cooperation mechanisms remains a practical constraint.
The ESBK’s annual report covers results through December 2025. The federal casino review in 2028 will be the next formal checkpoint for the concession cycle.
Source: ESBK
