Online learning for Casino Lucerne
The Swiss Grand Casino Lucerne has revealed its annual report for 2019, recounting a remarkable and successful year. A significant moment was the launch of the in-house online casino. However, some uncertainty lingers due to the potential impact of COVID-19. What can we anticipate next?
The Grand Casino Lucerne's key statistics for 2019 are out, and the results are impressive. Combining land-based casino operations and online trading, the group achieved over 53.2 million euros in total revenue, marking a notable increase of 18.3 percent. Operating results also rose, from 3.9 million to 4.4 million euros.
These outcomes align with Kursaal Casino AG Luzern's forecasts, the consolidated holding company housing both Grand Casino Luzern AG and Casino Online AG Luzern. However, Kursaal Casino AG Luzern's net profit rose in 2019, while the group's result decreased due to substantial digital investments.
In 2019, the group transferred a massive 19.5 million euros to the Swiss Federal Gaming Board, an increase of 23.9 percent year-on-year. This sum is earmarked for the mandatory AHV (Old Age and Survivors' Insurance) pension scheme, according to the casino's statement. Since its inception, the Lucerne-based group has contributed over 320 million euros to the scheme.
A Boost from Online Operations
Grand Casino Luzern was among the pioneers in Switzerland to receive an online casino license in 2019. Under the domain mycasino.ch, the range of games was developed alongside Paf, a Finnish game developer. With land-based casinos the sole entities allowed to offer online gaming in Switzerland, this move also bolstered the financials.
Gross gaming revenue from mycasino reached 8.4 million euros within the first four months. The casino emphasized there was no cannibalization of the land-based business. The land-based casino's gross gaming revenue sat at 36.3 million euros in 2019, with over 200,000 visitors.
The introduction of online gambling is hailed as the "highlight of the 2019 financial year" by the management. It preceded months of meticulous preparation and secured the first Swiss online casino license from the Swiss Federal Council.
The Uncertainty of COVID-19
The initial months of 2020 brought success aplenty, mirroring the lucrativeness of 2019. However, the rapid spread of COVID-19 disrupted the economic situation. The Swiss government mandated lockdowns and prohibited gatherings. Consequently, stores faced closures, including land-based casinos.
Consequently, temporary layoffs were introduced for staff. Mycasino.ch was an exception, as it was permitted to operate, offsetting potential losses.
The long-term effects of the pandemic's impacts are presently unclear. The Board of Directors plans to conserve the company's financial resources in the upcoming months.
Double Honors for Lucerne
Despite the economic turmoil, Lucerne basked in double recognition in the social realm. In Switzerland's annual casino votings for 2019, Grand Casino Luzern was honored as the "Most Popular Casino in Switzerland" for the fourth year in a row. Audiences gauged the range of games, employee friendliness and competence, supplementary offers, and overall impression.
Furthermore, Lucerne was nominated at the Global Gaming Awards in London's ICE Totally Gaming, the world's biggest gaming trade fair, in the casino category. The prizes recognized quality, innovation, and trust. This was the first time a Swiss casino was nominated for the industry's highest honor.
Commitment to Responsible Gaming
Although Lucerne didn't prevail in the end, their Finnish partners did. Paf won the "Responsible Gaming" category, which was applauded by Grand Casino Luzern's CEO Wolfgang Bliem. "We're especially proud of the award for our platform partner Paf," Bliem commented on the accomplishment.
This aligns with the Swiss Federal Council's mandated practices, given the stringent gambling regulations. In 2018, Switzerland passed one of Europe's strictest gambling acts via referendum. Since then, the country maintains a blacklist with hundreds of domains from international providers. Violators risk losing access to Swiss markets.
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Source: www.onlinecasinosdeutschland.com
