Is Liechtenstein the Las Vegas of Europe?

In the principality of Liechtenstein the population is less than 40,000. Therefore it is relatively surprising that six casinos have opened in this dwarf state in the past four years. Currently the opening of another casino is in the starting blocks. But why does the tiny landlocked country have such a significant gambling industry? Is Liechtenstein on the way to becoming the European Las Vegas?

In April of last year, the trade newspaper, among others, reported about the gambling industry with the headline “From a tax paradise to a gambling hell“. This industry has developed impressively during the past four years. New gambling temples are opening here in distances which are always becoming shorter. As the local newspaper “Vaterland” reports, a further casino will open soon. And that is not enough: Further projects are already being planned and developed. This means that there are already more gambling slots, poker and roulette tables in the principality than in Monte Carlo or Las Vegas.

Liechtenstein: financial attraction discovered

It seems to be that the principality of Liechtenstein has in the past years discovered the cultural and financial attractiveness of the land-based casino sector. There is no other explanation why, in spite of the small population, the amount of casinos is always increasing. There are nearly 39,000 inhabitants currently living in Liechtenstein. If the sixth casino starts operating, there will currently be on average a casino for more than 6,000 inhabitants in Liechtenstein. That means there are more casinos per capita than in the casino metropole of Las Vegas. In one of our articles in October, we asked, whether Las Vegas is facing the end of the gambling era.

Many inhabitants are less than happy with the omnipresent casinos. Some inhabitants even took legal action as for example in the case of the casino in the tranquil Balzers (around. 4,600 inhabitants). It is definitely not questionable, that every new casino temple brings the principality lots of money. Therefore there will also be those who are in favour of the current developments in the land-based gambling markets.

Six casinos already opened - others planned

Currently in the principality there are already six casinos in an area of solely 160 square km. These are the Casino Admiral Ruggell, the Casino Schaanwald Liechtenstein, the Grand Casino Liechtenstein, the Casino Admiral Triesen, the Casino Bad Ragaz, as well as the casino 96 in Balzers. Recently it was made known, that the casinos in Liechtenstein are now allowed to open on the 26th.April 2021 after a long lockdown. So that now they are already operating with guests. Of course, strict hygiene and social distance rules are imposed.

According to recent information of the Swiss newspaper “Tagblatt“, further casinos are planned in Liechtenstein. A further casino is planned to open soon in Eschner. The casino is planned to open in an old industrial area. A further casino opening is already planned for the second quarter of this year. This is the Maximus Casino Schaan. According to the official casino website, to date there is still no official opening date.

In the location of Liechtenstein, there is even a tax attraction for casino operators. Here, casinos must pay only between 17.5 and 40 % of the gross gaming generated , to the principality. On the contrary, in Germany this is 60%, and in Switzerland for example between 40 and 80%.

“From tax paradise to gambling hell”

The trade journal had last year already reported about the increased popularity of casinos in the principality of Liechtenstein. After Liechtenstein had successfully fought against its bad name as “tax paradise“, now it seems that apparently the gambling sector has been discovered. The basic requirements however could not be any better. The casinos create little work, require also little space and yield revenue amounting to millions. Only a few days ago, the Süddeutsche (SZ) newspaper reported about this with the heading “How a gamblers’ paradise has formed in the tax oasis of Lichtenstein“.

The population of Liechtenstein is meanwhile worried about the rapid development in the gambling market. The casinos are heftily attracting capital from the surrounding countries, however at the same time, there is worry about the increase in gambling addicts in the country. Further to this, they fear that the image of the principality could be tarnished by the many gambling services which are available.

Conclusion

It is quite impressive how fast the land-based gambling market in Liechtenstein has developed. Casinos are always on the increase and at the same time the criticism from the population is also always increasing. There is worry about the image and also about the number of gambling addicted people in the country. The development has however its advantages: The tax revenue from the gambling sector will definitely increase after the pandemic and a new record will be reached. We are excited to see how many other casinos will be opened in Liechtenstein and whether the principality will fulfil its image as the European Las Vegas.

Image Source: https://pixabay.com/de/photos/weit-anzeigen-gebirge-panorama-tops-3703467/