Swiss casino GGR falls as online growth fails to offset land-based decline

The Swiss Federal Gaming Board (FGB) has released its 2025 activity report, which shows that total GGR from both online and land-based casinos reached CHF 878m. This reflects a slight decline of 1.3% compared to the previous year.

GGR from land-based casinos totalled CHF 564.9m, down 3.85% from last year. Slot machine GGR amounted to CHF 468m, while table games generated around CHF  96m.

Casinò Admiral Mendrisio reported the largest GGR of CHF 74.5m and was among the few operators to report annual growth of 4.11%. It is followed by Swiss Casino Zürich, which had a GGR of CHF 59.1m, a 2.01% year-on-year decline.

The start of the new licensing period from 2025 to 2044 brought changes to the land-based casino industry. Some casinos have ceased operations, while others have introduced new offerings or expanded existing ones. Nevertheless, the number of casinos remained largely stable.

In contrast, the total online sector experienced slight growth, with a year-on-year increase of 1.2% and GGR reaching CHF 313.61m. However, this growth was not sufficient to offset the decline in the land-based market.

FGB noted that combating illegal gambling remains its top priority. In 2025, the Authority conducted 28 house searches and ordered the blocking of 580 domains, an increase of nearly 30% compared to the previous year. By the end of 2025, it was working on 209 criminal investigations and had issued 75 decisions under the Federal Gaming Act.

Meanwhile, the other Swiss regulator, Gespa, responsible for the betting and lottery market, also recently published its 2025 report.

These two verticals, operated both online and land-based, generated turnover of approximately CHF 3.87bn, down 2.4% year-on-year. GGR totalled CHF 1.2bn, down 3.7% compared to the previous year. Around 75% of the total GGR was generated by lotteries and scratch-off lottery products.

GGR from sports betting and PMU horse racing amounted to CHF 250.5m in 2025, down 5.3% from the previous year. This vertical previously experienced strong growth, rising from CHF 90.3m in 2019 to CHF 264.5m in 2024. A period of consolidation now appears to be underway.