CASINO GGR AND GAMBLING TAXATION CASINO
GGR 2019
GGR 2018
Casino Admiral Ruggell CHF55.07m CHF34.8m Casinos Austria
Club Admiral Triesen Grand Casino TOTAL
GGR 2017
GAMBLING GAMBLING
CHF22.3m CHF18.77m CHF2.68m CHF7.85m CHF1.14m - CHF1.55m -
-
“But Liechtenstein is a very modern and strong business location with a high purchasing power and thus also a correspondingly high market potential. Te excellent conditions and efficient collaboration with the authorities provide solid prospects here for new businesses. And last but not least, the casino industry with its attractive gaming and entertainment options also brings something ‘new’ to the region.”
Despite no cap on the number of casinos there is a general sense of saturation as the market contains five casinos. Te question is can it sustain eight or nine casinos in total or will revenues simply be reduced at the various locations.
Mr Zurucker-Burda said: “With five casinos now in operation in Liechtenstein the market in the region is saturated. Given the increasing and intense competition, quality now plays an even stronger role. We don’t think that many more than four to five casinos will ultimately pay off in the medium term. It is important to say that
the casinos in Liechtenstein are fairly small operations by international standards with nine gaming tables and 160 slot machines on average. In 2019 the four casinos employed 350 members of staff and generated GGR of around CHF81m.”
At the end of the October the casinos of Ruggell, Schaanwald, Triesen and Balzers, merged as a section of the Liechtenstein Chamber of Commerce to form a Liechtenstein Casino Association headed by Birgit Wimmer who is Chairperson of the Board of Directors at Casinos Ruggell and Triesen whilst Tomas Pirron is Vice-President of the association.
CYPTOCURRENCY When Liechtenstein launched its Blockchain
Act in January 2020 it became a digital frontrunner and a European Blockchain pioneer.
Te nation was already ‘crypto friendly’ but in October 2019 the Token and Trustworthy Technology Service Providers Act (TVTG) otherwise known as the Blockchain Act was
CHF11.6m CHF20.9m CHF12.8m -
CHF340,681 - CHF562,600 -
CHF80.02m CHF53.6m CHF14.3m CHF29.7m
GAMBLING
TAX 2019 TAX 2018 TAX 2017 CHF4.2m
CHF6.47m CHF848,751 - -
CHF19.3m CHF5.08m approved and came into force on January 1 2020.
Tis meant Liechtenstein became the first country to have a comprehensive regulation of the token economy. A focal point of the document was to regulate civil law issues for client protection and asset protection and also provide supervision of the various service providers in the token economy plus measures to combat money laundering. Service providers will be subject to AML/CFT rules.
Te Blockchain Act covers Blockchain technologies under the term TT system (transaction systems based on trustworthy technologies) and as such made a significant step in clarifying the regulatory environment for the currency. Te aim is to attract more crypto- currency businesses into this micro country.
Tere are measures to combat money laundering and terrorist financing with a series of due diligence rules and regulations in place in Liechtenstein.
NEWSWIRE / INTERACTIVE / MARKET DATA P89
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