Yet another casino is set to close in Lichtenstein with the shareholders of Casino Admiral in Ruggell planning to close the location as of September 30, 2025.
Due to the regulatory framework and the introduction of the blackout data exchange with Switzerland, it has become clear that the business cannot be run profitably and that a closure for economic reasons is therefore unavoidable, despite extensive measures and tireless efforts by the employees.
Casino Admiral AG was founded in March 2011 and, after an initial renovation phase and the granting of the casino licence, was able to open the Admiral location in Ruggell on 9 August 2017 as the first casino in Liechtenstein. The shareholders are Gryphon Management (FL) AG (a subsidiary of Gryphon Invest AG and part of the Zurich-based NOVUM SWISS Group) with 66 per cent and Grand Resort Bad Ragaz AG with 34 per cent.
The casino has made long-term investments of over 14m Swiss francs in Liechtenstein and has always focused on a modern and innovative offering with the latest technology, extensive customer service and well-trained and friendly staff. Many of these employees have been working for the casino since the beginning and have made a significant contribution to a stable revenue development, as a result of which gaming taxes totalling around 115m Swiss francs have been paid since its opening. The casino has also always been actively involved in social, cultural and sporting projects and events with great pleasure; among other things, through sponsorship of the Vaduz Classic, FC Vaduz and other local initiatives.
The Chairman of the Board of Directors, Ms. Birgit Wimmer, said: “In recent years, the regulatory framework for all casino operators in Liechtenstein has changed several times, which has called into question legal certainty and created a significant regulatory gap with the surrounding countries. These include, among other things, increases in the gambling tax, a tightening of the relationship between live games and slot machines (such a regulation has been completely abolished in Switzerland), requirements for additional personnel requirements for ongoing operations and, most recently, the exchange of blocking data with Switzerland, which is not planned in the neighbouring countries of Austria and Germany and thus leads to distortions of competition.”
The framework conditions have no longer been economically viable for investors and their operating casino operations since January 7, 2025. On the initiative of the Casino ADMIRAL in Ruggell, appointments were made as early as February 2025 and the urgency of the situation was explained to the Office of Economic Affairs (gambling authority) and possible measures were presented. After six months, there are still no signs of support or proposals from the authorities, government and other stakeholders that would enable a sustainable and healthy business performance.
Ms Wimmer added: “Our thanks and appreciation go in particular to the long-standing and loyal employees. The shareholders deeply regret being forced to take this difficult step and will work beyond the legal framework for a fair and equitable social plan and are also striving to offer as many employees as possible continued employment in the Group.”
The post Another Lichtenstein casino set to fold with Casino Admiral calling time on its venue in Ruggell appeared first on G3 Newswire.
Yet another casino is set to close in Lichtenstein with the shareholders of Casino Admiral in Ruggell planning to close the location as of September 30, 2025. Due to the regulatory framework and the introduction of the blackout data exchange with Switzerland, it has become clear that the business cannot be run profitably and that…
The post Another Lichtenstein casino set to fold with Casino Admiral calling time on its venue in Ruggell appeared first on G3 Newswire.