Located in the Alps region, between Switzerland and Austria, with a total area of just 160 km2 (smaller than the principality of Monaco) it has a population of less than 40,000 inhabitants. A relic of medieval European history, Liechtenstein is full of castles, countryside and mountains.
However, something started to change in 2017, when the region began to allow the operation of physical casinos. Today, there are five of them and the project to build another five. The phenomenon seems to be there to stay and some see it as a great investment, while others - mainly residents and small traders - are wondering whether this sudden change in tourist attractions could affect Liechtenstein's identity.
The last opening was the Grand Casino, in 2019, located immediately beside the Swiss border, and considered the largest in the principality. Unlike developments like Las Vegas, Macau and Monaco, the building is all gray, with no lush water fountains or flashy signs.
From the outside, it could even be considered a factory. Inside, however, there are four floors spread over 7,000 square meters offering all the atmosphere of a good casino: low light contrasting with the neon of the 292 slot machines and 29 gaming tables. It also has bars, restaurants and even the hotel itself. Anyone who wants to just play games, doesn't even need to leave their place.
The flow of cars through the region is constant and the Swiss, according to data from the casino itself, are the vast majority. Local government statistics show that in 2020, the year of the pandemic, 400,000 people passed through Liechtenstein's casinos. Success is undeniable. But after all, what attracts so many visitors? In addition to the short distances and the discretion of the locals, there is less control over players, who feel comfortable away from their acquaintances.
In 2020, even with pandemic restrictions, local casinos received 400k players
In Switzerland, for example, there is still inspection of people who can be considered addicts or who gamble beyond their financial capacity. In Lichtenstein there is none of this. The “free market” and even the “tax haven” mentality makes the rules minimal. So far, there is no law that restricts how many casinos can be opened. But what limit can the territory absorb?
The Liechtenstein Institute, a kind of NGO that coordinates local tourist attractions and cultural activities, is concerned about this escalation of gaming, not least because the principality has already been the target of major financial scandals involving money laundering.
The principality's deputy prime minister, Sabine Monauni, is clear in her position against the rise of so many casinos. In a local newspaper, she said that the market needs to be regulated through laws created in Parliament “so that we don't become the next Las Vegas”, something that goes against the wishes of the residents. Although they have the power to circulate money and create jobs, caution is needed — if players don't stay or spend money in the region — it makes little sense to see the natural and feudal landscape invaded by gigantic buildings.
For now, all of Liechtenstein's casinos are owned by foreign investors, but that, of course, is a government problem. For those who like to play the place is the new paradise on Earth and is located in the heart of Europe.
Source: IstoÉ
