St Moritz - Le casino est fermé!

The closure of the casino in St. Moritz has unfortunately become a reality. Despite initial hopes of a potential transfer to keep the casino open following the announcement of possible closure a month ago, this option did not come to fruition. Today marks the final day of operation, as per the deadline set by the owner, Casinos Austria.

Official Statement

A statement on the website has attributed the closure to the rise of online casinos, a common reason cited by clueless companies facing challenges in operating traditional casinos in the present day.

Management Decisions

Furthermore, the decision to add an extra zero to the roulette wheel has raised eyebrows, indicating a lack of experience in the casino industry among the top decision-makers. It appears that these choices have been made by individuals with academic qualifications but limited practical knowledge of the casino business.

Employee Impact

The Office for Industry and Labour had already been informed of the collective dismissal of the thirty-one employees who were actively working at the casino. The closure comes as a shock, especially considering the plans for a major revitalization of the casino after years of financial losses. Significant investments had been approved for relocating the casino headquarters to the centre of Sankt Moritz in 2021, as well as other expansion and renovation projects, including the launch of their own online casino. The recent approval of a twenty-year extension to the casino license had just been secured, making the closure even more unexpected.

Final Assessment

When your executive feels that the way to make money is to add an extra zero to the wheel then your days are practically numbered.