The Liechtenstein government has decided to put an end to online gambling in the country until the year 2028.
Liechtenstein enacted legislation legalizing gambling in 2010. One limitation was that online operators encountered difficulties in acquiring the necessary certifications. The current issue of prolonging the prohibition period for online gaming poses a significant obstacle for operators seeking to penetrate the domestic markets.
Furthermore, the Liechtenstein government issued an official statement announcing the formulation of an agreement with Switzerland concerning the exchange of information pertaining to banned players. Each nation was cognizant of the importance of cross-border security. Beginning in 2024, this will be implemented effectively.
Despite the regulatory prohibitions pertaining to online gambling, traditional casino establishments continue to enjoy remarkable prosperity in Liechtenstein.
The prohibition on issuing certifications to newly established casinos was implemented in 2022. A measure was implemented to deter the proliferation of gambling activities within the nation.
In the meantime, towards the beginning of 2023, a referendum was forwarded to the country’s electorate to conclude banning casinos from operating until 2028. It was a 70% and 73% voting count, with the latter agreeing with the ban until 2028.
This was despite the fact that there were divergent opinions about the harm caused by gambling in terms of damaging the country’s image, as well as an increase in irresponsible gambling.
Casinos are widely acknowledged to be a significant contributor to the overall economy of the country. The revenue generated by the two casinos that were open in 2018 was $53.6 million. The total taxable amount was $23 million.
