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Legal Online Gambling In Switzerland in 2014
Sunday July 21,2013 : LEGAL ONLINE GAMBLING IN SWITZERLAND NEXT YEAR?
The Swiss have been quietly working on a fresh approach to internet gambling
Online gambling, hitherto illegal in Switzerland but in a ban rarely enforced, could be legalised as early as next year according to reports in Swiss media.
Although the Swiss economy has weathered the economic recession in Europe better than most, land casinos in the independent country are feeling the pinch as internet gambling flourishes and cross-border Italian punters stay at home due to the critical financial situation in Italy, reports The Business Standard.
Swiss land casinos suffered an 8 percent drop in revenue in 2012 to 757 million Swiss francs ($800 million), according to the Federation of Swiss Casinos, with not a single one able to maintain revenue at the previous year's level.
The situation, and a 2009 review of the Swiss gambling industry by the Federal Gaming Board, may be the motivation for government's decision to revisit the online gambling ban and instead adopt a regulatory and licensing approach.
The Gaming Board recommendations were that online gambling should be strictly regulated, supported by real and active enforcement.
Following a constitutional amendment passed in March 2011, Swiss Department of Justice officials are reportedly working with the various Swiss cantons (provinces) on a draft which is scheduled for consultation and review later this year, hopefully leading to the introduction of a liberalised online gambling market in Switzerland
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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