Following the new gambling regulations that were approved through a popular vote last year, Switzerland may have its first online casino in July.
The Federal Gaming Board (Eidgenössische Spielbankenkommission, ESBK).has already accepted applications from at least four different operators for licenses to operate online casinos.
According to the reports confirmed by the local Swiss media, four operators Grand Casino Baden, Casino Davos, Grand Casino Luzern, and Swiss Casinos’ Casino Pfäffikon have already applied for the license with the gambling authority. The operators already have a land-based casino license and are operating gambling venues in the country.
The Federal Council will also review the applications as per the new regulations. It is expected that the authorities may decide on granting licenses by the end of June.
Once the licenses are approved the operations may begin from as early as July 1.
The new gambling regulation came into effect from January 1, 2019, after a popular voting in favor of the new regulations. The new law allows operators with a casino license to offer online casino games.
Making it difficult for the overseas casinos the new law requires them to seek partnership with a local licensed casino to operate in the country.
While operators are looking to start with online gambling from July 1, new compliance regulations are also expected. With the online gambling regulated in the country, illegal gambling websites could be blocked and even face administrative action.