“Some politicians wanted a large and prestigious
CHF200,000 daily whilst the casinos employ almost 350 full time staff (2019). Te casinos closed during the initial Coronavirus lockdown in mid March and reopened on June 6 with a cap on the maximum number of clients and various other protocols in place including no events or marketing activities.
“Before Coronavirus our revenues at Schaanwald had increased by 20 per cent in 2019 compared to 2018 whilst the results for 2020, up to the Corona shutdown in mid March, showed a further 10 per cent increase compared to the same period last year.” Christoph Zurucker-Burda said.
Te casino’s revenues for July and August this year had only dropped by three per cent compared to the same period in 2019 despite the conditions it is operating under.
Casino Director, Tomas Pirron, commented: “Our business philosophy is based on three key elements – friendliness, creativity and excellence. We work hard to achieve these and this pays off, as can be seen by the shutdown. Since we can’t hold big events at present, every small step counts.”
P50 NEWSWIRE / INTERACTIVE / MARKET DATA
casino with international appeal. Tey also wanted to open up the market cautiously, not least to protect the country’s
reputation. But this route did not prove practical, hence the government’s decision in 2016 to
introduce a licence-based system.”
Martin Meyer, CAI
As the second wave of the pandemic hit, bars and restaurants faced a second round of closure in Liechtenstein which will inevitably have a detrimental affect on 2020 revenues for the casinos.
Te sudden rapid growth of the casino market in Liechtenstein lies partly with the limit on the number of casinos in neighbouring Austria and
Switzerland. With a cap on the 21 Swiss casinos and 12 in Austria, the feeling is if this had been lifted then Liechtenstein may have only facilitated two casinos at most.
CAI’s Martin Meyer, who was Minister of Economic Affairs at the time, has been partly responsible for the liberalisation of the gaming market. He said: “Te topic was new for everyone here. Given the experiences in Switzerland with so-called B casinos, some of which were unsuccessful, the experts were of the opinion that we should introduce a concession system in Liechtenstein, with one or at most two casinos.
“Tere were also political arguments for concentrating on one casino, some politicians wanted a large and prestigious casino with international appeal. Tey also wanted to open up the market cautiously, not least to protect the country’s reputation. But this route did not prove practical, hence the government’s decision in 2016 to introduce a licence-based system. However this decision was based on the assumption that the market in Liechtenstein was too small to accommodate two or more casinos.
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