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Home/Referendum on the ban on casinos in Liechtenstein
Referendum on the ban on casinos in Liechtenstein
Small alpine country of Central Europe located between Switzerland and Austria, Liechtenstein is famous for its mountainous landscapes and its castles for example. It also has another tourist attraction: its casinos.
Indeed, even if it only covers an area of 160 km² and has a little more than 38,000 inhabitants, it still has no less than 6 gaming establishments.
Thus, some call it the Las Vegas of the Alps since it attracts quite a few players from Germany, Switzerland, Austria and Italy among others every year.
However, Liechtenstein may soon say goodbye to its casinos. This is the subject of a referendum scheduled for January 29.
Casinos harm Liechtenstein’s reputation for some
The 6 casinos in Liechtenstein have opened their doors, after the implementation of a new law dating from 2017. Nevertheless, they could well and truly all close, if the population so desires through the next referendum scheduled in a few days.
In this case, they will have to stop their activities purely and simply within 5 years.
For some, these gaming establishments are damaging the reputation of the country, which was already on an international blacklist of tax havens before a relaxation of banking secrecy laws was voted in more than 10 years ago.
They don’t want Liechtenstein to be seen as an iconic place for casinos or even poker in the middle of Europe.
Many advocates of casinos in Liechtenstein
At present, there are several prestigious international operators active in Liechtenstein. Among them is the Austrian Novomatic AG, whose subsidiary Gryphon Invest AG indirectly owns majority stakes in half of the country’s casinos. There is also Casinos Austria International, which owns one gaming establishment.
Of course, all professionals in the industry hope that the people of the principality will follow the advice of the 2 main parties and the economic chamber, voting against the closure. They point out that all these people believe that a well-regulated market is better than a straight ban.
In passing, the president of the Liechtenstein Casino Association and director of the Grand Casino (Reinhard Fischer) points out that all the various gaming establishments in the country scrupulously comply with the law and sometimes even do more than the regulations require. Therefore, he does not see how these complexes could damage the country’s reputation.
In addition, he also recalls that the casino sector generated in the 50 million Swiss francs of taxes during the year 2022, which is about 50.4 million euros. Moreover, the deputy head of the Liechtenstein government (Sabine Monauni) has acknowledged that this revenue is important for the principality’s budget.
This is one of the reasons why the government also calls on the population to vote against the ban on casinos.
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