Gaming revenues fall by 58.86 per cent in Liechtenstein

Summary

Liechtenstein’s gaming sector has seen a dramatic decline in gross gaming revenue (GGR) in 2025. Reported quarterly figures were €15.95m in Q1, €13.6m in Q2 and €13.17m in Q3. By 30 September, GGR had fallen by 58.86% year-to-date, according to the Liechtenstein State Administration.

The fall follows a January 2025 cross-border agreement with Switzerland that prevents players banned in Swiss casinos from playing in Liechtenstein. That, combined with higher taxes, stricter regulatory requirements (including slot-to-table ratios) and rising staff costs, has driven closures: LV Casino (Eschen) shut in January, followed by Plaza Casino (Schaan), Casino 96 (Balzers) and Admiral Casino (Ruggell) which closed on 30 September. Only five casinos now remain and the Liechtenstein Casino Association dissolved in March 2025.

Key Points

Gross gaming revenue declined 58.86% year-to-date to the end of September 2025.
Quarterly GGR: Q1 €15.95m, Q2 €13.6m, Q3 €13.17m.
Four casinos have closed in 2025, including the pioneering Admiral Casino in Ruggell.
A January 2025 agreement with Switzerland barred players banned in Swiss casinos from playing in Liechtenstein, reducing Swiss clientele.
Operators cite higher gambling taxes, new slot-to-table requirements and rising staff costs as key pressures.
The Liechtenstein Casino Association was dissolved in March 2025, weakening industry advocacy.
Despite a 2023 referendum where 73% of residents opposed closures, the sector has contracted significantly.

Context and relevance

This story matters beyond a tiny market: it illustrates how cross-border regulatory harmonisation and national policy changes can quickly undermine small, tourism- and cross-border-dependent gambling sectors. For regulators, operators and suppliers it highlights the risks of higher tax burdens and rigid operational rules in competitive regions, and the fiscal impact on a country that relied on casino tax receipts (Admiral contributed about CHF115m over eight years).

Why should I read this?

Short and plain: if you follow European gaming, border policy or small-market economics, this is worth a quick read. It explains why casinos in Liechtenstein are folding, who’s being hit (operators, staff, public finances) and what pushed a 58.86% revenue collapse in months. We’ve done the legwork so you don’t have to dig through the official data.

Author style

Punchy: this isn’t a slow decline — it’s a sector-level shock. Operators and policymakers should pay attention: the figures and closures are a clear sign that regulation and cross-border agreements can rapidly reshape a small jurisdiction’s gaming landscape.

Source

Source: https://g3newswire.com/gaming-revenues-fall-by-58-86-per-cent-in-liechtenstein/