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Home/Liechtenstein residents vote to keep casinos
Liechtenstein residents vote to keep casinos
A small Alpine country in central Europe bordered by Switzerland to the west and south and Austria to the east and north, Liechtenstein has a population of just over 38,000 within its area of only 160 km².
It was during 2017 that a brand new law came into effect there that allowed the creation of 6 land-based casinos attracting many foreign tourists every year.
Called to express themselves through a referendum held last Sunday, January 29, the voters were 73% to want to keep them.
To prevent the country from becoming a gambling Mecca in Europe
Sometimes called the Las Vegas of the Alps, Liechtenstein will keep its land-based casinos. In any case, that’s what the country’s inhabitants decided in a referendum on January 29, 2023. Indeed, no less than 73% of the voters who turned out rejected the proposed ban. By the way, we can note that the participation rate reached 70%.
It was the group IG VolksMeinung that sought the necessary signatures in order to launch the famous vote. They wanted to fight against the bad image that casinos could have on the country, while refusing to let it become a gambling Mecca in the middle of the European continent.
It must be recognized that since a change in the law allowed from the year 2017 the opening of land-based casinos, this kind of gambling establishments have welcomed crowds of German, Swiss and Austrian tourists.
No vote supported by professionals and the government
On the contrary, all the professionals of the profession had called to vote no during the referendum. This was also the position supported by the Liechtenstein government. The Deputy Prime Minister (Sabine Monauni), for example, considered the proposed ban on land-based casinos to be too radical and excessive, and that it would not at all solve certain problems such as gambling addiction.
As a result, they were keen to get public support for the continuation of land-based casinos by proposing a balance between measures to reduce activity without completely destroying this market which brings in a lot of money for the state.
In the year 2022 alone, for example, taxes generated by trips made by mainly foreign visitors to Liechtenstein casinos generated 50 million Swiss francs, which is about 49.84 million euros. If such a sum were to disappear within 5 years, as the referendum predicted, it would represent a significant hole in the country’s budget.
We can recall in passing that some important operators at the international level are present in Liechtenstein. This is particularly true of the Novomatic AG group, whose subsidiary Gryphon Invest AG indirectly owns majority stakes in half of the country’s casinos.
Casinos Austria International also has a gaming complex in Liechtenstein.
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