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Swiss Casinos affected by the economic downturn

There has been a general lowering of income from gaming in France and neighbouring countries are also having similar difficulties. Switzerland, which up to now has benefited from flourishing business in this area has had to face several factors which have led to a falling off in business. The economic downturn hasn’t spared Switzerland which has seen the number of clients especially foreign players decrease in its 19 casinos. This is due to the increase in the number of casinos in Germany and Italy and to the fact that the Swiss franc is a strong currency. The amount of online gaming sites has also harmed Switzerland which has seen its players desert its casinos to visit these sites.

Since the casino law was passed an independent authority was put in place on the 1st of April 2000 : the Federal Casino Commission (CFMJ). This authority’s role is to make sure that the rules for games of chance are obeyed to the letter , to fight money laundering and to ensure players are protected. Every year the CFMJ submits a report to the Federal Council. In its report for 2011, 56 inspections were carried out. Thanks to taxes the CFMJ can pay the AVS 360 million francs.

Benno Schneider, the president of the CFMJ believes that there needs to be complete vigilance in the area of player protection and that this surveillance cannot be lowered in order to increase the revenue in casinos. The battle against the problems of addiction needs to remain a main priority.

The CFMJ is pleased with the casinos in the country which obey the rules it has put in place. The attraction of making money doesn’t however make them forget the regulations that they have imposed on themselves.

By | 2014-05-27T12:24:45+00:00 December 6th, 2013|News, Swiss casinos|0 Comments